In asking Is the Madoff Scandal Paradigmatic? Kevin MacDonald and I put forward reasons for thinking so:
- Ample evidence pointing to the Madoff operation being fraudulent was brought to the attention of the SEC: the failure of that entity to take effective action can most plausibly be explained by fear of the lethal rage the Jewish Establishment was likely to show if an important member was attacked.
- Madoff’s success in raising so much money from so many places was largely a function of the efficiency of networking within the Jewish Community
- Raising and keeping the money was greatly facilitated by extraordinary — even irrational — reverence Madoff came to be accorded: conforming Rabbi/Guru cult pattern seen amongst Jews from the Rabbis of Eastern Europe to the Boas/Anthropology and Freud/Psychology academic circles amongst others.
- Economically the fraud was a huge net transfer of resources from non-Jews to Jews and within the group from less wealthy Jews to an elite.
- That Madoff was not turned in by the numerous Jewish financial sophisticates who had apparently figured out the fraud reflected the shadow cast by the “Mesirah” tradition prohibiting reporting wrong-doing Jews to the Civil Authority: a matter of great significance to non-Jews.
In his thoughtful response Mr. Jansen seems to concede our first point (“I will not argue against…”). From a public policy point of view, this is the most important matter. He ignores the “Guru” and “Mesirah” issues to focus on the distribution of benefits from the fraud.
He suggests that the main beneficiary was “the small Jewish retail investor who put his money to work with Madoff many decades ago.”
We certainly agree that the early small investors in Madoff actually did very well. We said
It is simply a fact that many people lived very well for many years from the proceeds of Madoff’s depredations.
This is not to suggest that they had the faintest idea their life styles were in any sense illegitimate and were rooted in fraud. Nor does it mitigate the appalling shock they went through in late 2008, discovering that their Guardian Angel had devoured them.
And of course we did not suggest all the Jewish elite benefited. But a few did, and enormously: the great bulk of the recoveries — some $10 billion — actually has come from just three families, the Picowers, the Carl Shapiros and the heirs of Norman F. Levy. The former two paid massive civil forfeitures to the Feds, incontrovertible proof of wrongdoing. The facts seem to be that enormous sums, far beyond any contributions, were extracted from the Madoff operation by certain parties.
Several other cases — the Wilpons, the Chais heirs, and Ezra Merkin — may eventually provide more examples.
In contrast, the situation of David Becker, lately General Counsel of the SEC, was probably typical of the smaller accounts: he and his brothers split up a $2 million Madoff account inherited from their mother, of which the Trustee claims $1.5Mm was fictitious and should be returned.
Mr. Jansen takes the view that
The biggest moral losers were the elite Jewish individuals and organizations, who had recommended Madoff. These people lost much of their trust among both Jews and non-Jews.
and particularly
Madoff had a devastating impact on many Sephardic Jewish asset managers, especially in Switzerland…
Being in the business, he may be in a good position to judge this. But we were concerned with the effect of the Madoff scheme as an operating entity. While it was proceeding, all these people were doing extremely well from it.
Mr. Jansen also says, “non-Jewish investors are not likely to have suffered as large losses as initially thought.”
This seems to be true — but mainly because the proceeds of the fraud turned out to be so heavily concentrated in liquid form in the hands of a few. It may be that the Trustee’s shakedown suits aimed at the deep pockets of the Banks unfortunate enough to be involved will be productive. But the scale of the recoveries has no relevance to our analysis.
Jansen points out that others commit financial crimes, and implied that Jews do not commit them disproportionately to their very heavy involvement in financial matters.
The former is obviously true and the latter deserves some research. But we made no assertion about the propensity of Jews to commit these crimes (as, it is true, many others did).
Our point was mainly about ethnic networking — that the Madoff phenomenon, in the way it grew and in the way it was not stopped
illuminate(s) the economic and political prerogatives usurped in late 20th-century America by what can only be described as the new ruling class.
Subsequent events are confirming this — SEC Inspector General Kotz’s suppression of Senator Schumer’s role not least.
Facing the Future as a Minority
“The failure of that entity (SEC) to take effective action can most plausibly be explained by fear of the lethal rage the Jewish Establishment was likely to show if an important member was attacked.”
I see John, Jews have arrived at a situation where your financial regulators are afraid of them?
Get rid of these pussies and put men with guts in there. It’s that simple, guys need to be able to walk in with shotguns and baseball bats.
Of course, in addition to the corruption of Wall Street that has taken place over the last few generations, we also have the massive wealth transfer from Whites to populations which are almost 50% illiterate. The OPEC countries will take White people for one trillion dollars this year. And almost half their populations can’t spell oil. And almost none of the natives have the engineering or scientific skills needed to produce oil.
http://www.telegraph.co.uk/finance/newsbysector/energy/8578318/Opec-to-haul-in-1-trillion-as-oil-prices-increase-risk-of-double-dip-recession.html
Getting back to this Jewish code of silence. After Lehman Brothers collapsed, someone reportedly “knocked out” Richard Fuld while he was on the treadmill at the Lehman Brother’s company gym.
You can be sure it wasn’t a gentile, or it would have been screaming headline news 24/7. It must have been someone very connected. Maybe one of the Lehman family? As far as I know there never was any prosecution, or any mention of who punched Fuld out.
It may have been a hard & costly lesson that the Lehman’s learned that Blacks, Mexicans, non-Whites in general kill property values that the mortages Lehman Brothers underwrote depended on.
“But we made no assertion about the propensity of Jews to commit these crimes…”
Really, professor? Then what does “paradigmatic” mean?
How odd that when confronted with actual facts and data you should try to deny the vicious antisemitism which everywhere else you proudly parade.
On August 31, 2009 the SEC’s Office of Investigations issued its own report on how the Madoff con was able to continue so long and damage so many.
@ Caleb, june 16,2011,7:58 pm.
["...Prof.MacDonald everywhere proudly parades vicious antisemitism..."]
Well my dear Jewish friend Caleb (Caleb means “dog” in Hebrew) ,I thought I had outed you some time ago as a Jewish activist with your typical anti-WN and typical pro-Israel comments and after some fights with you I thought I had finally defeated you as we heard no more from you.Then recently you came back with some innocent comments and I thought – naive goy that I am – that you had mend your ways.With this comment however you clearly show that this is not the case.Now let me “proudly parade MY vicious anti-Semitism” here: You are a Jew and as a Jew you cannot change ,just as all of you cannot change and have not changed in the nearly 4000 years you infested our planet.You are a tribe of criminal psychopaths,specialized in destructive parasitism by means of deception.Yes that is “paradigmatic” of you.Equally paradigmatic of you is the ABSOLUTE incapacity to understand that the socalled “anti-Semitism” you so whiningly complain about, is nothing but the understandable reaction of the people to your incorrigible misbehaviour. This moral equivalent of the physical law of action=reaction (an idea as simple to understand as 2+2=4) is totally beyond your comprehension.”Anti-semitism” follows you always and everywhere because you always and everywhere misbehave.Simple as that.The Madoff Scandal is indeed paradigmatic because you Jews have always swindled us.You come here only to defend the indefensible.You Jews are an ETHNIC MAFIA and nothing of your existence is defensible.
Go away and leave our planet for good.
Proud (virtuous) “anti-Semite”:
Franklin Ryckaert.
@ Caleb …
“Anti-Semitic” is an empty canard that no longer has any currency or legitimacy.
We no longer recognize the term. It is as puerile as that other great canard, “anti-American”.
If you cannot stand your ground and make your case without constant reference to bogus legal categorizations, then don’t argue and don’t fight. Realize your game, which proved so successful throughout the 20th century, is up and that it is no longer being tolerated.
Punishment is fast heading in the direction of those common criminals who self-identify themselves by wearing a Yalmuke, and whose psychological victims are also obliged to wear before they are taken to Jerusalem to kiss that silly Rothschild-sponsored wall of yours.
Check this out, do Jews have a monopoly on nerve, and greed?
“In advance of his testimony, Simpson Thacher & Bartlett racked up 889.3 hours of work prepping Fuld and producing documents for Congress. The bill, paid by the bankruptcy estate, came to $491,197….”
[ftom an expose written by a journalist named STERNGOLD]
@ Caleb (means “dog” in Hebrew) june 17,2011,2:28 am (Tel Aviv time).
{“…do Jews have a monopoly on nerve,and greed?…”}
Jews have a monopoly on EXCESSIVE nerve (“chutzpah”) and greed.The mere fact that you have the nerve to ask this (insincere) rhetorical question once again proves that you are a Jew yourself with a self appointed “mission” to wreck this website.
Leave our planet and take your MAFIA TRIBE with you.
Frankie–
Please answer this simple survey question:
Based on ___admissions over the last two years (fill in number), I would rate the food at the psychiatric hospital in my State as
a) unacceptable
b) unappetizing
c) fair
d) yummy
[Even **der Fuehrer** did not claim to represent the WHOLE PLANET.]
@Caleb
Fuld is a Jew, and you can be sure the law firm he chose, has a Jewish connection regardless of the name on the door. Take a peek at the list of Simpson Thacher & Bartlett lawyers—it reads like a Jewish wedding invitation list.
Caleb => jew => ignore
@ Caleb ,june 17,2011,4;34 am.
You just showed a typical (“paradigmatic”) reaction Jews always show when rightly confronted with accusations of misconduct.This is the sequence they react:
1) They deny any wrongdoing.
2) They accuse others of the wrongdoing.
3) They point out that others do wrong too.(your last comment but one)
4) They accuse you of anti-Semitism.(your last comment but two)
5) They call you insane.(your last comment)
6) They resort to vulgar name calling,usually connected with sexuality and excretion (which has a special fascination for Jews) (perhaps your next comment)
All typical Jewish and predictable.
As for me “claiming to represent the WHOLE PLANET”,that is not from megalomania but from conscience and global solidarity,qualities that you Jews don’t possess and therefore cannot understand.
Question: When will you Jews at last go on “aliyah” to another planet?
One classic symptom of mental illness is delusions of grandeur such as going around with hat turned sideways and hand thrust in shirt OR a belief that the entire planet is in “solidarity” with you.
btw: Didn’t Peter Jansen’s article in large part point out the wrongs done by others? He must be another Hebrew.
Tom, there are Jewish attorneys at the venerable Wall Street firm of Simpson, Thacher and a few “orientals”, too. [Hey, who let **them** in?] Some even have the title of Partner — though in a firm where the “Partners” number over a hundred, one must question whether the term has any meaning. Not a whole lot of Jewish-sounding names in the securities area, though and none running the show.
@ Caleb
Right, only about a third of the Simpson Thacher & Bartlett lawyers can easily be identified as Jews. LOL. I’m sure they have more than their share of other non-White minorities besides Jews on the payroll.
Madoff, and other vultures at The Wall Street, as Talmudic Jews – follow their holy book Talmud.
Last December, Newsweek has boasted that Chinese business community use Talmud as ‘Business Guide’.
http://rehmat1.wordpress.com/2010/12/31/newsweek-talmud-is-a-business-guide-in-china/
Caleb can try the old tack of humor to deflect the truth, along with the other standard jewish defense tactics listed above. But it doesn’t help. Engaging in pil pul isn’t doing any good anymore when more and more people take a look at what’s going on left and right, and see the jews gorging themselves financially, materialistically, endlessly, while trying to deny it at the same time. At the same time as the country sinks lower and lower into the mud.
The main goal of the jews was to destroy the US. If they could install themselves as rulers over a land filled with brown skinned simpleton slaves and some Asians to handle technical infrastructure, great. If they they end up having to run for it (and that’s what’s going to happen) once things settle into complete chaos, great. All they want in the end is to destroy anything beautiful that comes from whites. Innate malevolence and innate self-deception allows them to not see it or to at least rationalize it. Look at the Talmud. Most of it is nothing but a canon that justifies greedy, criminal behavior rooted in ethnocentrism. All humans are animals, and jews are a peculiar, sneaky, aggressive, hate-filled, spiteful parasite. It’s the parasite part that bothers them most. They know they can’t survive without attaching themselves to a real society, a real civilization, something the jews cannot create on their own.
If you look around, you should know that America has already been bankrupted by Jews and Christian Zionists. Jews don’t need ‘brown skinned’ people to achieve their domination of the West. They have more White dogs working for them than they can find among the non-White people. Can you name a non-White country whose more than 50% of lawmakers have attended a foreign lobby group’s annual meeting to greet a foreign prime minister as their hero?
http://rehmat1.wordpress.com/2008/12/07/who-rules-the-west/
I think you missed CD’s point Rehmat. Missed it completely. Domination is fine, but they don’t necessarily require it. Flip side is they thoroughly dominate the Middle East in much easier fashion and with less effort than the West.
Flip side is they thoroughly dominate the Middle East in much easier fashion and with less effort than the West.
M. Jollie,
There are currently more Iranian Jews in America than there are in Iran (70,000 to 25,000).
There are currently more Iraqi Jews in America than there are in Iraq (15,000 to 50).
There are currently more Afghani Jews in America than in Afghanistan (200 to 1).
This makes it hard for me to believe that the Middle East is more Jew-friendly than the West, or that Jews have anything approaching thorough dominance over that region.
Almost all Jewish influence over the Middle East comes indirectly through the West, especially America, and this may well be reflected in the fact that the Jew approved and promoted pathologies destroying the West are significantly less advanced in the Middle East than they are in America or Europe.
Even the House of Saud, for all their flaws and sycophantry towards America, is still much less anti-Arab than the governments of Europe are anti-European.
This is reflected in the fact that even though the House of Saud has let in non-Arab guest workers, they haven’t compounded the error by granting them citizenship.
In contrast, the governments of Europe both let in non-European workers and grant them citizenship, a regime far more likely to eventually lead to defeat and/or extinction than the Saudi way of doing things.
Another important thing the Saudis have going for them is the fact that their leaders and media haven’t done nearly as much to promote Feminism as the leaders and media of Western countries have.
How much this has to do with there being almost no Jews in Saudi Arabia, and how much it has to do with the Saudis starting out the modern era with a more traditional mindset/culture, is difficult to say.
Reginald – your Jewish history in Muslim lands is as much crooked as Zionists’ narrative of holocaust.
The Jews left Muslim-majority countries as result of Zionists’ 9/11 false flag operations and were not expelled by Muslim governments as was done in the good-old Europe. The Jewish communities still thrive in Turkey (120,000), Uzbekistan (30,000), Islamic Republic (25,000), Morocco (50,000), Tunisia (1500), Azerbaijan (3000), Iraqi Kurdistan (2500), Syria (1000) and Lebanon (300).
Afghanistan had no Jewish population for the last 300 years unless you believe Israeli propaganda that my tribe of Yousefzai (sounds like prophet Joseph) was Jewish in the past.
Saudi ‘royals’ are in fact the children of an Iraqi Jewish tribe. That’s one of the reasons the British Foreign Office installed them as ruler of two sacred cities of Islam (Makkah and Madina). It later awarded the third Muslim sacred city, Al-Quds, to Europe’s atheist Jews to solve Europe’s old ‘Jewish Problem’.
Yes, while Saudis don’t allow their women folks to drive – do you know that Orthodox Jewish women are not allowed to drive or walk on the same side of street as men – Right in New York??
http://rehmat1.wordpress.com/2011/06/20/jewish-women-cannot-drive-in-new-york/
Thank you Mr. Graham for the reply to my comment.
You are right that I will not comment on the ethnic networking or the guru/messiah components of the Madoff affair. Although no one in the financial industry will admit this, everyone in the game knows that ethnic networking is a reality, not only among Jews, simply because trust is scarce among people you don’t feel a kinship with. I personally believe that ethnic networking is a part of human nature.
Therefore, I am not in a position to have a comprehensive view on public policy or on the psychology of Judaism. I am only in a position to judge who gained and who lost from Madoff’s scam.
I guess I must disappoint by stating that I remain unconvinced that Judaism is constructed to benefit the wealthy Jews at the expense of poor Jews after reading your reply. First of all, I never said that you stated that ALL the Jewish elite benefited from Madoff. I know that your position is that Jews as a group benefited from Madoff and non-Jews were hit with losses. And that’s the conclusion I disagree with.
In reading your reply, it seems you are adopting a slightly new position regarding the transfer of wealth. The new position seems to be that SOME of the early Jewish retail investors benefited from the scheme whereas SOME wealthy Jews also benefited. The magnitude of the profits and losses of each group remains unclear from your response. What’s also missing in your reply is the fact that some very wealthy Jewish investors LOST tremendous amounts of money in the Madoff fraud – including highly committed Zionists like Steven Spielberg. You are also not mentioning Jewish groups like the offshore based fund manager Aurelia Finance who reportedly lost $800m – presumably majority Jewish-owned money – in Madoff. Genevalor, an asset manager owned by the Sephardic Benbassat family who has been wealthy for many generations, saw $1,1 billion evaporate from one of their funds, which also presumably was very Jewish in terms of its investor base. If you want to make the case that “Samuel Goldenberg” benefited at the expense of “Schmuyle” (to use the Mussorgsky analogy of one of the readers) you need to quantify the effect and not use the evidence selectively.
Finally, I’d like to challenge your view that banks like UBS, HSBC etc were simply “unfortunate enough to be involved”. Why are you letting these banks off the hook and why is your criticism only directed at Picower, Levy, and Shapiro? As you rightly point out, there were many “red flags” in Madoff’s operation that should have been noted by the banks. The banks’ job was to do the due diligence for their clients, many of whom had hired these banks to give the financial expertise and risk management that they lacked. The benevolent interpretation is that the banks failed miserably at protecting their clients from fraud. The malevolent interpretation is that the big banks were and are utterly corrupt. I will leave that for the readers to decide.
“Jansen points out that others commit financial crimes, and implied that Jews do not commit them disproportionately to their very heavy involvement in financial matters.”
If Jansen truly believes that, he clearly hasn’t ever investigated the overwhelming evidence to the contrary. I partially quote from my prior comments on “Year-End Fundraising Appeal” to the poster “Zog” who maintains his own website:
“Zog:
I have been compiling my own list of Jewish fraudsters (both indicted/convicted and unindicted) for the past two years, but because I don’t have the time to maintain a blog, I have yet to do anything meaningful with it. I also need to take several weekends to update it by adding all my latest additions that I come across almost daily. I have another list too called “Jewish morals… Not!!” that is absolutely staggering in its scope of criminality and Jewish debasement of our culture.
Maybe once I’ve completed the former, I could email it to you, and you could do something with the information by adding it to your blog.
The blogger “Zsidozas” had an excellent series of Jewish Fraudsters called “Hebreweconomics,” but he has since taken them down. I asked him on his blog to please restore them, but to no avail. That excellent show which I suspect has an activist-minded producer behind it, “American Greed” has been instrumental in uncovering many that I’d heretofore been aware of. I would venture an educated guess that 90% or better of the fraudsters exposed on that invaluable show have been Jewish. Moreover, many receive what most consider very light sentences relative to the severity of their financial crimes. I am planning to submit my collection on Christian’s “White Genocide Evidence Project” as time permits (so far 58 pages long on my Microsoft documents and nowhere near complete) just as I’ve done with my “Jewish Morals… Not!” compilation.
The mind-numbing scale of Jewish fraud noted above is really just the tip of the iceberg since it doesn’t begin to address the much larger colossal fleecing by THEIR central bank, The Federal Reserve, and it’s member banks, as well as THEIR too-big-to-jail banking brethren.
This reprehensible theft from the despised “Gentiles” emanates straight out of their disgusting, racist, holiest book, the “Talmud” which not only sanctions such criminal behavior… it advocates it.
THE TRUTH ABOUT THE TALMUD
A Documented Exposé of Supremacist Rabbinic Hate Literature
Copyright ©2000-2006 by Michael A. Hoffman II All Rights Reserved
http://www.revisionisthistory.org/talmudtruth.html
I’m convinced too that the reason Madoff was sent to the country-club like environment that is Butner prison is because Bernie never squealed on or divulged the complicity of the Ponzi schemers/partners-in-crime at the top who benefitted deliciously from the whole arrangement, but in “The Madoff Tapes” (2nd link), he comes perilously close and has apparently been stewing about it behind bars.
Behind Bars with a Criminal Mastermind
http://www.cnbc.com/id/38543493
Moreover, in this interview, Bernie provides some very telling revelations/gems and confirmed what most thinking Americans’ have figured out with regards to our federal Leviathan and their “watchdog” agencies having been hijacked by the banksters:
“From the beginning, Madoff, who’d moved to Queens at age 7, had a chip on his shoulder, along with a certain contempt for the industry he’d chosen. “‘It was always a business where you had to have an edge, and the little guy never got a break. The institutions controlled everything,’ he said in a voice surprisingly thick with emotion. ‘I realized from a very early stage that the market is a whole rigged job. There’s no chance that investors have in this market.’”
And:
“’Everyone was greedy,’ he continues. ‘I just went along. It’s not an excuse.’ In his mind, the hedge funds and the banks were little more than marketers, skimming their 1 to 2 percent off the top, a fee for their supposed ‘due diligence,’ though they exercised little oversight. ‘Look, there was complicity, in my view,’ Madoff told me.”
And:
“Madoff didn’t exclude his individual investors in his list of those who, at least tacitly, played along with the game. “Their friends had told them, ‘How can you be making 15 or 18 percent when everyone is making less money?’ ” he told me. ‘Believe me, if you don’t think they had doubts, they had doubts … I would say, certainly, by the mid-to-late nineties,’ it should have been obvious to everyone that his investment business was a fraud.’”
Last but hardly least:
“He sees himself at this stage as a kind of truth-teller. He has disdain not only for the industry but for the regulators. ‘The SEC,’ he says, “looks terrible in this thing.’ And he doesn’t see himself as the only guilty party on Wall Street. ‘It’s unbelievable, Goldman … no one has any criminal convictions. The whole new regulatory reform is a joke. The whole government is a Ponzi scheme.’”
The Madoff Tapes
http://nymag.com/news/features/berniemadoff-2011-3/