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Madoff as a scapegoat

  1. Petra Vlah profile image60
    Petra Vlahposted 5 years ago

    We all know Madoff is guilty as hell and his Ponzi scheme defrauded plenty of individual investors and charitable organizations (not less greedy than Madoff himself).
    At this time of public unrest, when people are finally asking for accountability and justice, the media is throwing us a bone; CHEW on Madoff and forget about the ones that allowed for such crimes to take place.
    The only head that ever rolled was Madoff’s; all other financial gurus got rewarded with more millions in bonuses and retirement parachutes while millions around the world lost their life savings.
    To appease the outrage of millions, in the last few days the media is revamping Madoff story in an attempt to show that there is some kind of “justice” after all and crimes do get punished.
    Are they kidding us?

  2. Cagsil profile image60
    Cagsilposted 5 years ago

    No they are not kidding. The media is the master at distraction, just like politicians and their political correctness are the masters at misinformation and distortion. wink

  3. MikeNV profile image76
    MikeNVposted 5 years ago

    Just like the Indians who are taking the fall for the Wall Street Insider Trading.

    Pick one guy, demonize them, then it's forgotten.

    How many people are talking about the BP Spill?  It's only been a year.

    Out of sight, out of mind.

  4. knolyourself profile image60
    knolyourselfposted 5 years ago

    Usually it is called the 'fall guy', made famous in forties and fifties Film noir.

  5. Stacie L profile image87
    Stacie Lposted 5 years ago

    his wife and former daughter in law have been on tv interviews the past few weeks claiming to be victims...

    1. Hollie Thomas profile image61
      Hollie Thomasposted 5 years ago in reply to this

      I'm not familiar with the name Madoff, however, I can bring to mind a trader originally from Sri-Lanka who seems to be taking the fall, I can't remember his name (I'm hopeless)Is this the one?

    2. Petra Vlah profile image60
      Petra Vlahposted 5 years ago in reply to this

      Stacie,
      Sure they are the "victimes"... their life of indicent luxury come to an end and now they are crying poverty and heart break.

      I am taking issue with the MEDIA (20/20, Good Morning America, 60 minutes) who are ONCE AGAIN trying to divert our attention from what is really important; the OWS movement as a vehement protest against the corruption and greed of the financial sector.
      Madoff's crime amounts to $20 billions (which is a lot), but we are talking at least 10 times that much for bailing out an industry that is still rewarding its managers with millions for having bankrupt the country (and the world for that matter)
      That's what I am talking about!

      1. Hollie Thomas profile image61
        Hollie Thomasposted 5 years ago in reply to this

        ok, know who he is now, confused him with someone else.

      2. Stacie L profile image87
        Stacie Lposted 5 years ago in reply to this

        i certainly wasn't sympathizing with THEM when i said they are claiming to be victims..

  6. Shawn Scarborough profile image82
    Shawn Scarboroughposted 5 years ago

    In the private sector, if you spend your clients money instead of investing it for them and then payoff old investors with new investors money, it is called a ponzi scheme.   Doing the same thing in the public sector is called Social Security.  In either case, anyone who runs these scams should be in jail.

 
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