I really find it interesting when the talking heads credit Bernie Madoff as the criminal who pulled off the biggest ponzi scheme in US history. I am taken back for a minute because I guess I don’t know how they are measuring the size of this dudes Ponzi.
Ok, Bernie has a big ponzi but it cannot even be seen in the shadow of the mountain range sized ponzi that Tim Geitner and Ben Bernake have.
Bernie Madoff managed a portfolio with about 20 Billion on deposit. Timmy and Bernie up here are managing the multi-Trillion dollar economy of The United States. They have been caught on some inside sneaky business as well but not prosecuted like Bernie. You see BERNIE and the FED allowed 1.2 TRILLION to be secretly given to friends of his, no you are not one of his friends.
The only problem is the money he provided in secret to his friends was not deposited in his accounts by investors like Bernie Madoff no, he just creates the money and then lends it out to whoever he wants. We also found out that he even provides money to friends in foreign countries too. Yeah not 20 Billion not even the $65 Billion that they claim Madoff stole. Try $600 Billion in cash in secret all at one time to foreign banking buddies.
How much is a trillion anyway? Think about it like this the Milky Way Galaxy only has about 400 Billion stars. So if you had a dollar for every star in the sky you would not have the amount of money Timmy and Bernie gave foreigners. You’d need another galaxy or two to account for the TRILLIONS handed out in the bailout.
What do you think?