Thursday, December 11, 2008

This Ponzi Scheme Won´t Get A Bailout.......

Unlike others...... I still hope that at least the $ 50 billion number won´t be confirmed but it really looks like this story has the potential to rival the failed auto bailout. Even if the real number is only a fraction this will send shockwaves trough the hedge fund industry and could lead to much more forced selling..... At least the players now burned with billions call themselves "smart money" so we really shoulnd´t feel any mercy ( especially after you have read the "Cassandra Does Tokyo" or "Ft Alphaville" link. Naked Shorts back in 2001 questioned this how "Bernie" Madoff "created" his performance Madoff tops charts;skeptics ask how ).... On the auto topic it wouldn´t surprise me if we will see a TARP solution for the automakers during the next few days..... Wouldn´t be the first u turn from Paulson... :-)

Das wird ein Schneelballsystem sein das im Gegensatz zu anderen an Wall Street nicht rausgehauen wird..... Ich hoffe insgeheim immer noch das die Summe von 50 Mrd $ nicht bestätigt wird aber nichtsdestotrotz hat diese Geschichte das Zeug selbst den gescheiterten Rettungsversuch der US Autoindustrie zu toppen. Selbst wenn die Summe um einiges geringer ausfällt wird dieser Vorfall zu einem weiteren massiven Vertrauensverlust und einem Run auf die Hedge Fonds und damit zu weiteren massivsten Zwangsverkäufen führen...... Dab zu den Geschädigten wohl in erster Linie andere Hedge Fonds gehören hält sich mein Mitgefühl aber sehr in Grenzen ( besonders nachdem man den Insiderbericht von "Cassandra Does Tokyo" & "FT Alphaville" Link gelesen hat die klar belegen das die ausgewiesenen Gewinne seit Jahren nicht stimmig sein können. Siehe auch diese Schlagzeile aus dem Jahr 2001 von Naked Shorts Madoff tops charts;skeptics ask how)........In Sachen Autoindustrie würde es mich nicht wundern wenn plötzlich ( binnen der nächsten Tage ) doch noch eine Lösung im Rahmen der TARP Gelder gefunden wird..... Wäre ja nicht die erste 180 Grad Wendung von Paulson & Co......

Bernie Madoff: The Indictment Original Filing / Original Anklagegeschrift via Henry Blodget / Clusterstock A MUST READ!

He Madoff with how much??? FT Alphaville

“This guy has managed to produce 1-1.2% PER MONTH, year after year after year…” Quote from a ( now money losing ...) client on May 2 2008 ...... via FT Alphaville

Madoff ‘Big Lie’ Hits Fairfield Sentry, Kingate Funds Bloomberg

A $50 Billion Fraud? So Where is the Money? Naked Capitalism

Ex-Nasdaq-Chef wegen Milliarden-Betrugsverdacht festgenommen Der Spiegel

The Madoff Complaint Calculated Risk

Bernie Comes Out of the Closet Cassandra Does Tokyo

> Hard to believe that this "likable" person has probably committed the "mother Of All Ponzi Schemes"....

> Fällt einem schwer zu glauben das dieser "sympatische" ältere Herr die "Mutter aller Schneeballsysteme durchgezogen hat.....


> Too bad that Madoff couldn´t hide his losses under some kind of level 3 accounting......

> Zu dumm das im Gegensatz zu den Banken Madoff seine Verluste nicht hinter der Level 3 Bilanzkosmetik verschleiern konnte......

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3 Comments:

Blogger donald said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Betty


http://www.my-foreclosures.info

9:15 PM  
Anonymous Pancho said...

Tja, wie heisst es so schön... nomen est omen...aus "Madoff" scheint letztendlich "mad off" geworden zu sein...

Hasta
Pancho

12:19 PM  
Anonymous Joe Blow said...

Congratulations Mr Madoff. Here's your medal for:

Wonderful Dishonor

Citation:
1) Scam the most elite, the salf-proclaimed 'smartest', out of their billions. You have made many ordinary people feel proud.

2)A Ponzi scheme so big, so international, so long. You made the regulators look totally stupid, utter fools, complete idiot. There are many smiling faces in the world in this holiday season as a result. Making people smile is good.

3) You have deeply betrayed the trusts of Jews, very rich Jews at that. The Jews are impenetrable people, especially when it comes to money. It takes a Jew of high stature like you to screw them hard. You have done the impossible, the unthinkable. You are indeed a rarity.

4) You have accelerated the destruction of the hated hedge fund industry. Boy everybody knows this industry of unfettered greed, scams, bailouts run by blood suckers need to be destroyed. But how - these assholes running them are so powerful? You show how. Excellent work.

Thank you thank you Mr Madoff. Millions will remember you. Many will bring gifts and words of comfort to your jail until the end of time.

10:43 PM  

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