West Coast Connection Forum
Lifestyle => Train of Thought => Topic started by: Rick McCrank on February 20, 2009, 01:23:35 PM
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life's not fair, makes you feel bad knowing people like this got shafted, can bring a tear to your eye :-X
http://cosmos.bcst.yahoo.com/up/player/popup/?cl=12131768
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THIS IS OUTRAGES!!! Everyone's hard earning to retire will no longer happen to corruptions like this. I mean..what's the point working anymore?
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Pyramid schemes are one of the few forms of crime that I truly hate. We had a big one here in Finland a short while ago (the WinCapita-scam). Not as big as this one of course, but big nonetheless.
Two videos about to the Madoff fraud:
Independent financial fraud investigator and analyst Harry Markopolos was heard before a committee, and explains that with the evidence him and his team submitted to SEC (US Securities and Exchange Commission) as early as May 2000, the agency could have shut down the scheme when it was only a 3-7 billion USD fraud (only is the word of choice, the final amount today is estimated to be around 50 billion USD). They continued to submit evidence for the next 8 years, during which the SEC could have stopped the fraud when it was an estimated 20 to 30 billion USD. Video: http://www.youtube.com/watch?v=uw_Tgu0txS0&NR=1
From the same hearing, SEC getting some feedback about the investigation of this particular incident: http://www.youtube.com/watch?v=FOKSkaQoF_I
Fuck SEC and fuck Bernard Madoff.