Every time I think we are done with the Madoff Affairs, more news just comes pouring out. So I am putting off, talking about the Clinton ‘Charity’ scam but the Madoff mess is very much tied into the Clinton corruption system. So I will write about that tomorrow. The naked mess created by one of the biggest gnomes on Wall Street has caused a lot of fear and even got Forbes to suggest we need revolutionary changes…HAHAHA. But NOT the Wall Street Journal! No, they want to pretend, nothing is wrong, really, honestly.

We Need A Strong SEC –

Part of the blame for this failure fairly can be attributed to the SEC–both for providing too small a staff and for that staff’s decision, apparently on its own, to permit internal audits to substitute for the Commission’s requirement of external audits.

But more of this tragedy can be attributed to a general belief that the world’s leading investment banks did not need regulatory rules to assess the risk of novel forms of trading such as credit default swaps, and that those same institutions could tolerate net capital requirements that were much lower than otherwise required.

What we have learned, quite simply, from the last few months is that we now need an SEC once again able to wholly fulfill its historic mandate.

First, this means that the current system of financial regulation–with loopholes for financial holding companies, credit default swaps and hedge funds–must be transformed into one in which all relevant types of financial instruments and actors are subject to similar systems of full and complete disclosure.

Second, we need to make a fundamental distinction between the need for the Department of Treasury or the Federal Reserve, which address issues of systemic liquidity, and the need for a specialized agency, such as the SEC, which addresses the now-urgent needs of millions of American investors.

But it turns out, the Madoff crimes predated the undoing of all the post-1929 collapse regulations.


Um, the SEC must be investigated.  Mary Schapiro should be thoroughly investigated and then hopefully, sent to jail like all the others in this little drama.  Cox gets put in the Big Box, too.  Now, how on earth can the SEC staff make decisions on their own about not auditing someone?  Eh?  Who was bribed?  Who slept with whom?  Who made under the table deals?  Who went to the same Synagogues? 


Since 99% of this mess was confined strictly to the Jewish sectors of the financial/government/regulatory realm, we have to have snoopy outsiders investigate this interlocking community and how it interfaces with regulators!  True, the con artists, gnomes and pirates all share a philosophical ideology that no one should have any rules, regulations or laws.  They want Dodge City Wild, Wild Invest.  


The many ‘modern’ financial instruments that a host of irresponsible geniuses created were all pitched towards doing one thing: creating money out of thin air coupled with protecting the fees and follies of the creators so they could get very, very rich while doing absolutely nothing good.  So, using all of these ‘tools’, the merry gnome community ended up dumping amazing amounts of unsustainable debts on top of everything in sight.  


The last paragraph of this Forbes story is particularly amusing to me:  so, Forbes thinks we should distinguish between the Fed and the Treasury?  HAHAHA.  The Treasury has been hijacked by criminals and we see how great they have been: the Treasury is nothing but trillions of dollars in debts.  And a small pile of gold at Fort Knox.  I suspect, much of which is now ‘swapped’ so the US people don’t own it at all.  


This ‘liquidity’ is all about debts.  And the guys who created the complete collapse of not only our entire banking system but our entire government, our entire economy and perhaps, our very nation, itself—they used the Federal Reserve to do this to us.  Ergo: the Fed, which is a PRIVATE corporation, should be NATIONALIZED.  And then Congress should go back to what they were supposed to do: regulate the currency and make banking rules and laws.  Not the Federal Reserve.


They epitomize  the utter foolishness of letting bankers regulate themselves.  Ever since the Fed took over our banking system, inflation took off.  And it was supposed to prevent bubbles and crashes.  Yet, we have these like clockwork.  And deep in the center of these bubbles is always the Federal Reserve handing out excessive loans.  Right off the bat, they lent epic amounts to Europe so the empires there could ravage each other.


Madoff Misconduct Said to Date Back to 1970s as Client List Reached 4,000

(Bloomberg) — U.S. regulators, trying to unravel the breadth of Bernard Madoff’s alleged $50 billion fraud, have found evidence of misconduct stretching back to at least the 1970s, two people familiar with the inquiry said.

Madoff’s investment advisory business, where he allegedly operated the biggest Ponzi scheme in history, is now estimated to have had more than 4,000 customers, the people said, declining to be identified because the inquiry isn’t public. An advisory unit Madoff registered with the Securities and Exchange Commission claimed in a January filing to have no more than 25 clients. People familiar with the probe said Dec. 14 he also ran a secret unregistered business….

Madoff’s attorney, Ira “Ike” Sorkin of Dickstein Shapiro in New York, wasn’t available to comment. In an interview yesterday, Sorkin said Madoff’s company is “cooperating fully with the government.”

Do we seriously think that someone named ‘Wilson’ or ‘Martinez’ could have walked into the Exchange and open SECRET accounts and then run a Ponzi scheme?  Of course not easily!  This requires a social stage where such secret, unregistered and unregulated stuff is protected by others.  It is hard to make deals with people if you are not part of the social scene.  And once a group gets a grip on things, they shun outsiders and protect each other.  


This must be investigated.  Someone has to look into the social relationships as well as sexual relations of the people at the heart of our financial systems.  The Madoff affair certainly has torn aside the veil of secrecy that has cloaked Wall Street.  But it must go much further: the Jewish community must take responsibility for what has happened there.  Just like, they must face the serious charges that they have diverted much of our foreign aid to Israeli Jews even while our budget is collapsing.  Just like the tax evasions that are eating up our government finances have to be examined in light of this group effort to short-change the US while enriching Jews in Israel.


The importance of this business is obvious: our own government is cutting finances at home or running up trillions of dollars in future obligations we Americans must pay, eventually.  The inability of Congress to even discuss fixing our budget problems or taxing the wealthy Wall Street community is very directly tied into the interlocked families which control our national economic systems.  Eventually, enraged Americans who are not Jewish will attack the entire Jewish community.


So the time to clean house is here and now.  Instead of wondering why the SEC mysteriously lets a top Jewish financier run amok, we should relentlessly discover the actual process whereby this happened.  This means, the people who enabled this to happen have to be hunted down and examined.  Why did they punt for Madoff in the first place? Worldwide

In its 1992 lawsuit, the SEC claimed accountants Frank Avellino and Michael Bienes began raising money in 1962 and placing it with Madoff while promising investors returns of 13.5 percent to 20 percent, according to court documents obtained by Bloomberg. As of October 1992, their firm, Avellino & Bienes, had issued $441 million in unregistered notes to 3,200 people and entities, court papers say. They invested solely with Madoff, who opened his business in 1960.

Avellino and Bienes, who were represented by Sorkin, agreed in November 1992 to shut down their business and reimburse clients. Lee Richards, the court-appointed trustee over Avellino & Bienes, hired auditors Price Waterhouse to scrutinize the books of the firm, which operated as an unregistered investment company, according to the SEC.

Price Waterhouse said Avellino & Bienes kept few records and asked Madoff to provide copies of account statements issued to the firm, which he did, court records show. Richards, who was named receiver for Madoff’s foreign units on Dec. 12, didn’t investigate Madoff while overseeing Avellino & Bienes, the records show.

So, a previous ‘funnel’ who existed only to take money from people and move it into Madoff’s criminal operation were investigated and forced to return these funds!  Yet, in the news, we hear of many such similar organizations, all of whom, it appears, were run by Jewish con men, all of these are now collapsing, going bankrupt or being shut down by the authorities.  They existed only to fleece people via fees while simply funneling money to Madoff.


Yet, 16 years ago, this didn’t trigger an intense investigation of Madoff.  He was certainly very protected.


WSJ: Wall Street Mystery Features a Big Board Rival (Madoff: 12/16/92)

This article was published in the Dec. 16, 1992, edition of The Wall
Street Journal.

Here’s a tantalizing Wall Street mystery:

The Securities and Exchange Commission recently cracked down on one of
the largest-ever sales of unregistered securities. Investors had
poured $440 million into investment pools raised by two Florida
accountants, who for more than a decade took in money without telling
the SEC or making required financial disclosures to investors.

Who was the broker with the Midas touch? The SEC, which last month
went to court to shut down the operation, won’t say. Neither will the
lawyer for the two accountants, Frank J. Avellino and Michael S.
Bienes of Fort Lauderdale.

But the mystery broker turns out to be none other than Bernard L.
Madoff — a highly successful and controversial figure on Wall Street,
but until now not known as an ace money manager.

Mr. Madoff is one of the masters of the off-exchange “third market”
and the bane of the New York Stock Exchange. He has built a highly
profitable securities firm, Bernard L. Madoff Investment Securities,
which siphons a huge volume of stock trades away from the Big Board.
The $740 million average daily volume of trades executed
electronically by the Madoff firm off the exchange equals 9% of the
New York exchange’s.

Mr. Madoff’s firm can execute trades so quickly and cheaply that it
actually pays other brokerage firms a penny a share to execute their
customers’ orders, profiting from the spread between bid and asked
prices that most stocks trade for.

In an interview, the 54-year-old Mr. Madoff says he didn’t know the
money he was managing had been raised illegally. And he insists the
returns were really nothing special, given that the Standard & Poor’s
500-stock index generated an average annual return of 16.3% between
November 1982 and November 1992. “I would be surprised if anybody
thought that matching the S&P over 10 years was anything outstanding,”
he says.

In fact, most investors would have been delighted to be promised such
returns in advance, as the accountants’ investors were. That’s
especially true since the majority of money managers actually trailed
the S&P 500 during the 1980s.

The exact same lawyer, Ira Sorkin, represented the two criminals in the above story back in 1992.  He is representing the crew who are criminals today in the Madoff business.

Mr. Madoff said his investment strategy changed around 1982, when his
firm began using a greater variety of strategies tied to the stock
market, including the use of stock-index futures and “market-neutral”
arbitrage, which can involve buying and selling different stocks in an
industry group.

In yesterday’s story, I explained how Mr. Madoff pretended he had this miraculous bank of computers that magically beat human market experts.  But in 1992, he had other explanations for his miraculous profits.  He always had some sort of incredible system at work.  Which is always very vague.

Perhaps the biggest question is how the investment pools could promise
to pay high interest rates on a steady annual basis, even though
annual returns on stocks fluctuate drastically. In 1984 and 1991, for
example, the stock market delivered a negative return, even after
counting dividends. Yet Avellino & Bienes — and Mr. Madoff —
maintained their double-digit returns.

The answer could be that Mr. Madoff’s use of futures and options
helped cushion the returns against the market’s ups and downs. Mr.
Madoff says he made up for the cost of the hedges — which could have
caused him to trail the stock market’s returns — with stock-picking
and market timing.

This story from 1992 makes it crystal clear that investigators should have gone after Madoff with greatest severity.  But they did not.  This is because he had protection, Mafia-style protection: buying politicians and corrupting the system so it would look the other way.

As the investment pools swelled, two other accountants, Steven
Mendelow of New York City and Edward Glantz of Lake Worth, Fla.,
started their own pool, Telfran Ltd., to invest in Avellino & Bienes
notes. Telfran by itself sold $89.6 million in unregistered notes, a
separate SEC civil lawsuit charges. The two men, also represented by
Mr. Sorkin, declined to comment. The SEC said Telfran made money by
investing in Avellino & Bienes notes paying 15% to 19% annually, while
paying Telfran investors lower rates.

Here is yet another warning sign that this was an elaborate pyramid scheme!  More and more guys who were ‘in the know’ and who socialized with Madoff would buy each other’s shares!  So each group would launch a new ‘business’ which had only one function: to buy an earlier level of the pyramid.  So the third parties to join bought the shares of the previous parties who then fed the money to Madoff after taking their own cut.  This can go on forever as we see with the long, long list of hedge funds and organizations that had only one function: to buy something that was a Madoff fund. 


SEC News Digest, 11-23-1993


The Commission announced that the Honorable John E. Sprizzo, District Judge for theSouthern District of New York, permanently enjoined Telfran Associates Ltd. (TelfranLtd.). Telfran Associates Corp. (Telfran Corp.), Steven Mendelow (Mendelow) and EdwardGlantz (Glantz), by consent, from further violations of Sections 5(a) and 5(c) of theSecurities Act of 1933 and Section 7 of the Investment Company Act of 1940.

TelfranLtd. agreed to pay a civil penalty of $250,000, and Mendelow and Glantz each agreedto pay civil penalties of $50,000.The Commission’Scomplaint alleged that from 1989 through November 1992, thedefendants sold unregistered securities to the public and operated as an unregistered investment company. The complaint further alleged that the defendants sold investorsnotes which paid an interest rate of approximately 15\.

The complaint alleged thatthe defendants used investors’ monies to purchase notes from Avellino & Bienes, who invested the money with a broker-dealer.The complaint alleged that as of November16, 1992. Telfran Ltd. had more than 800 investors and had raised in excess of $88million through the sale of its unregistered securities.[SEC v. Telfran AssociatesLtd., Telfran Associates Corp., Steven Mendelov and Edward Glantz, 92 Civ. 8564, JES,SDNY] (La-1388l)

Madoff is the ‘broker-dealer’ mentioned in the last paragraph here.    Note how the third level of this pyramid scheme raised over $88 million dollars while doing virtually nothing.  800 people were drawn into this scam.  Madoff certainly was one slippery fish swimming in endless pools of money, wasn’t he?


Here is an example of today’s school of fellow fishes now going belly up:  Ezra Merkin’s Gabriel Capital to Close After Losses on Madoff Investments

J. Ezra Merkin relationship map –

J. Ezra Merkin relationship map

Like he fellow Jewish buddy, Madoff, Merkin is in the middle of a spiderweb of power.  Note how he is also part of the GMAC mess.  General Motors had to sell off that business and obviously, it fell into the hands of con men.


OCTOBER 2005:  What’s Bigger Than Cisco, Coke, Or McDonald’s?

Feinberg majored in politics, producing a senior thesis arguing that drugs and prostitution should be legalized. For the paper, he not only delved into theories about the appropriate role of government but also spent a summer interviewing cops, hookers, and pimps in New York City. Feinberg took the position to impress a professor who he perceived as liberal after receiving a bad grade arguing the opposite view in a paper the previous year, says a person close to him. Today Feinberg contributes to Republican causes. He and his wife Gisela sent $114,000 in the 2003-2004 election cycle to committees working to elect Republicans to Congress.

His first finance job was as a novice trader at Drexel Burnham. But he soon moved on to Gruntal & Co., where he worked on the same floor as Steven A. Cohen, now a hedge-fund star who runs SAC Capital Advisors LLC. By 1992, when he was 32, Feinberg wanted to strike out on his own and teamed with co-founder Richter, who ran his own brokerage firm.

They named their firm Cerberus, for the ferocious three-headed dog that guards the gates of Hades in Greek mythology. Feinberg liked the idea that one of the dog’s heads was always on watch, just as his firm would guard its clients’ investments around the clock, says J. Ezra Merkin, managing partner of hedge-fund firm Gabriel Capital Group. Merkin — whose clients included university endowments and wealthy New York families — became Feinberg’s partner in a number of funds and deals. “I thought he would be able to move from passively investing in securities to building a business and actively managing companies,” says Merkin.

Cerberus was launched by Jewish Mafia guys who, according to this old article that basically admires and praises these con men, Feinberg of Cerberus was actively involved in ‘deals’ with Gabriel Capital Group’s owner and con artist, Mr. Merkin!  So is Cerberus going to be thoroughly investigated?  The talk in Congress for bailing out Chrysler Motors is all about Cerberus getting some profits out of that deal.  I say, they should get nothing.


Spotlight turns on Merkin in Madoff scheme | International | Jerusalem Post

Merkin, the scion of a philanthropic family known for its support of Modern Orthodox causes, resigned as a YU trustee and as chairman of its investment committee on Friday following Madoff’s arrest a day earlier.

According to sources close to the case, Merkin was apparently duped by Madoff. Still, many believe that Merkin might have misled his investors, and YU officials were discussing whether to press charges against Merkin, who had placed the money with Madoff without the university board’s knowledge…..

Some veteran members said that at the time Merkin was not only respected and trusted, but also seen as “the Golden Boy controlling the Golden Goose.”…

According to a board member cited by the Yeshiva University newspaper, several trustees and the university’s President Richard Joel had “long been upset with Merkin’s management of the endowment, citing factors such as disappointing returns as well as a secretive, overbearing leadership style.”

In particular, YU officials were “troubled by Merkin’s tactic of directing substantial amounts of YU’s endowment – in the range of $400 m. to $700 m. – to a fund that he himself managed.”

This article from Israel is ridiculous.  Merkin was NOT conned by Madoff.  He knew he was scamming people because the sole reason his hedge fund existed was to funnel money into Madoff’s pyramid scheme.  Note that Merkin, like all criminals, didn’t want anyone seeing his books, poking around in his deals or knowing anything.  He was secretive.  They all are!  Ergo: he was operating a criminal con job.


Unlikely Player Pulled Into Madoff Swirl –

Moreover, in the years leading up to his involvement with Ms. Madoff, Mr. Swanson aggressively pursued an enforcement action against a company whose board included his future father-in-law, Peter Madoff, and whose chief executive was one of Mr. Madoff’s closest friends.

Former colleagues in the regulatory world and professional adversaries described Mr. Swanson as a straight arrow, earnest by-the-book Midwesterner who worked long hours and received excellent job evaluations. Several said they always saw him act aggressively but fairly in his years at the commission and that they never saw any evidence of him favoring any company, including Madoff Securities.

“I remember him as a very hard-working, dedicated and smart guy,” said Joseph Lombard, a former market regulation counsel to Arthur Levitt Jr. when he was the S.E.C. chairman in the 1990s. “You have people at the agency, like anyplace, who are more or less committed to the enterprise. Eric was all in. He believed in the ability of regulation to make markets better. He was an advocate of aggressive action against people who had fallen short.”

This article seeks to protect someone who should have had a faint idea, what was going on.  This ‘investigator’ didn’t know what his wife was doing?  Boy, is he in for a world of hurt when she really decides to go off and screw around!  She, of course, even when supposedly in a position of authority in her father’s scam business, claims to be stupid an innocent.


Ah, all these highly educated, sharp people who pride themselves on being on top of things, when caught, suddenly are the dumbest people on earth!  Didn’t know a thing!  Straight arrows who marry into Mafia families!  HAHAHA.  The Godfather is a good movie.  A must-see.  


Another clue as to why we must thoroughly investigate the gangsters and the regulators is the top paragraph:  the guy Mr. Swanson investigated right before joining this branch of the Jewish Mafia was one of Madoff’s closest friends!  Did the guy go to jail?  Since I don’t know the name, I can’t look it up!  


Madoff Exploited the Jews –

The Madoff tale is striking in part because it is like stealing from family. Yet frauds that prey on people who share bonds of religion or ethnicity, who travel in the same circles, are quite common. Two years ago the Securities and Exchange Commission issued a warning about “affinity fraud.” The SEC ticked off a series of examples of schemes that were directed at members of a community: Armenian-Americans, Baptist Church members, Jehovah’s Witnesses, African-American church groups, Korean-Americans. In each case, the perpetrator relied on the fact that being from the same community provided a reason to trust the sales pitch, to believe it was plausible that someone from the same background would give you a deal that, if offered by someone without such ties, would sound too good to be true….

The SEC’s failure to pursue complaints about Mr. Madoff over the past decade wasn’t the result of inadequate regulations but of disbelief that someone so well entrenched in the industry — a former Nasdaq chairman and SEC adviser — was capable of committing such a callous crime.

Although regulatory initiatives routinely are taken off the shelf and offered up as the solution to a newsworthy problem, the conduct Mr. Madoff is accused of was illegal long before Charles Ponzi made pyramid schemes synonymous with his name. With so many aspects of our financial system under scrutiny today, and so many people in the government who regulate and write the rules for that system set to change, it hardly makes sense to go looking for ways to prevent new Madoff-like schemes….
In retrospect, the current Madoff story is about someone who was as perfectly suited to swindling as Horowitz was to playing piano. The violation of trust at the heart of that story — of trust by those with the greatest reason to trust — cries out for sympathy. It illustrates the limits of law, not the need for more of it.

Mr. Cass is dean emeritus of Boston University School of Law, president of Cass & Associates, and chairman of the Center for the Rule of Law.

Ah, protecting the tribe!  Good job, Mr. Cass!  Why have any rules?  After all, there will always be con men!  And this IDIOT is a professor of LAW????  I looked up some stuff about this criminal lawyer.  He worked on NAFTA.  Gads.  Ack.


For a lawyer to say, ‘Well, you know, people MURDER so why punish them?  We can’t stop MURDERS by passing laws so why bother?  You go and trust someone and then they shoot you dead!  So what’s the big deal, buddy?’  Gads.  I suppose, he hunts quail with Cheney.  Blames victims for being shot in the face?  How DARE this idiot claim, we shouldn’t prevent obvious frauds?  Eh?


This is exactly what is wrong with many powerful Jews.  Mr. Cass is in a position of responsibility, yet he counsels that we do nothing in the teeth of criminal frauds just because it was a Jew doing it!  This story illustrates the limits of the present laws that allowed Jewish con men to operate with near-total impunity.  And it can be fixed.  But not by Mary Schapiro who, I bet, thinks exactly like this Jewish lawyer: ‘WHO GIVES A FUCK?  WE WON’T FIX THIS…NAYAYAYAY.’   I think that Boston University should fire this creep.


Rude awakening for Spielberg as DreamWorks runs short of cash – News, Films – The Independent

He is impossibly rich, uniquely powerful and boasts a copper-bottomed CV that includes dozens of the most influential blockbusters of modern times. But even Steven Spielberg’s career is stalling in the apocalyptic face of the global credit crunch.

The legendary movie mogul, who recently “divorced” Paramount Pictures to turn his production firm, DreamWorks, into an independent company, finds himself in the unfamiliar position of struggling to raise enough money to get the ambitious new project off the ground.

Ironically, given his unrivalled reputation for producing some of the most lucrative films ever made, such as Jaws, ET, and the Indiana Jones series, Spielberg seems unable to raise $750m of the $1.2bn needed to underwrite DreamWorks’ slate of forthcoming movies. Without the cash, the firm will be unable to begin work on its proposed selection of films, which include a selection of the most eagerly awaited projects in Hollywood….

Although it seems unlikely that DreamWorks will collapse, Spielberg is expected to dramatically scale back his plans for the studio. Only one major project is currently under way, a $130m 3D version of Tintin. Unless the market improves, pundits say he will be forced to produce fewer, smaller movies. The problems come after a turbulent year for Spielberg, whose long-standing business partner David Geffen parted company from DreamWorks at the end of October. Mr Geffen, one of the film industry’s best deal-makers, had engineered the company’s separation from Paramount Pictures.

So, Spielberg is ‘impossibly rich’ but has to beg for money to make movies?  What the hell is wrong with our world?  Why do movies cost so much?  Most of them are infantile with huge loads of special effects while the dialogue is barely above first grade level?  Tintin is a lightly-drawn comix from Belgium which was cute in the 1950’s, I read these stories back then.  But to make a monster-expensive movie about this is plain crazy.  I hope it is never made.


Way too many rich people are not rich.  They are all overextended and utterly reckless and making stupid things that are useless or just plain stupid.  Then, when things fail, they say, ‘We were too stupid to know what we were doing.’  Stupid is as stupid does.  Gads. Have they no pride?


The Dreyfuss affair: actor sues father for $4m – Americas, World – The Independent

Richard Dreyfuss, who played Vice-President Dick Cheney in the recent George Bush biopic W, is at the centre of a real-life drama after deciding to sue his father and uncle over a personal loan he claims was never repaid.

The Oscar-winning actor has filed a lawsuit seeking $4m (£2.6m) in repayments, interest fees and damages related to an $870,000 advance he gave his relatives in 1984 to help with a 13-storey office building they own in downtown Los Angeles. Mr Dreyfuss accuses his uncle, Gilbert, and father, Norman, of acting with “fraud” and “malice” in refusing to turn over accounting records for the building that would show whether he should have had income from the investment….

Though Mr Dreyfuss, 60, has in recent years stepped back from the limelight, appearing in only a handful of films and claiming to be in semi-retirement, he retains a status akin to royalty in Hollywood, and his decision to sue two close relatives, with all the publicity it will entail, will be devoured by the showbusiness media. Originally from a tight-knit Jewish family in Brooklyn, Mr Dreyfuss is thought to have become estranged from his father, a former restaurateur and attorney, after the death of his mother Geraldine from a stroke in 2000. His lawsuit was originally filed last August.

So, papa ripped off his famous son?  HAHAHA.  All in the family!  And papa was a lawyer?  Good grief.  And the lawyer landlord can’t figure out the finances of a building?  Good grief, again!  Where do these dummies get their law degrees?  HAHAHA.  Good grief. 


Now, here is a little story of a non-Jewish rip off artist just to show us that ANYONE can be a rip off artist, OK?

Billionaires’ Ski Club Stiffs Montana Florists, Blacksmiths After Collapse

(Bloomberg) — Builders, florists and blacksmiths are counting their losses along with financiers and hedge-fund managers in the bankruptcy of theYellowstone Club, a private ski-and-golf enclave in the Montana Rockies.

The club, where Persian rugs line the ski lodge and a trail is named “Learjet Glades,” sought protection from creditors on Nov. 10, brought down by the founders’ divorce, profligate spending, and a real estate slump. Members like investment banker Robert Greenhill, founder of Greenhill & Co., want to know where their $250,000 deposits went. A local wastewater company wants its $5,472….

It remains open after getting court approval on Dec. 12 for an emergency $19.8 million loan from club member Sam Byrne, founder of CrossHarbor Capital Partners LLC, a private equity firm in Boston….

The trouble started well before the U.S. recession. Cyclist Greg LeMond, an early investor and homeowner, sued the club in 2006, saying the Blixseths borrowed $375 million from Zurich- based Credit Suisse Group and took $209 million for themselves as a dividend, jilting him and other investors.

Credit Suisse spokesman Duncan King said the bank arranged the loan to the club and is acting as an agent in the bankruptcy for holders of the debt.

The Blixseths used the money to buy boats, cars, and a 16- bedroom chateau in France for $28 million, LeMond alleged. The parties settled the suit earlier this year for $39.5 million, though Edra Blixseth missed a Nov. 15 deadline to pay the $13.5 million balance still owed, according to a filing by LeMond in Montana state court.

A lot of ‘rich’ people are really dead beats juggling loans.  When the wonderful Aladdin’s lamp, the Japanese Carry Trade abruptly began to unwind last July, 2007, a lot of people with a lot of short-term debts ended up underwater.  This is one such organization.  Mr. Blixseth sold shares and then dumped debt on his enterprise.  Sounds like a classic Cerberus tactic!  HAHAHA.  Well, he got caught when the liquidity that was hosing the planet, stopped.


2003—Executive Golfer- Tim Blixseth

His First Transaction: A Donkey Sale

Blixseth took Eichler’s counsel to heart. He decided to use his wits to make money. He felt he could become a successful entrepreneur, at 18, and nobody could stop him. Hollywood would have to wait.

He was amused saying: “I’ll never forget my first real transaction. I scoured the want ads for items on sale and saw one advertising three donkeys for $25 each.

“I thought three donkeys for $75 was cheap. So, I borrowed a pickup from my brother-in-law and drove out to see the guy. We closed a deal for $75. But, I agreed to buy the donkeys only if they could be loaded into my pickup. We pushed them as hard as we could. They would not budge…. I was determined…. They were stubborn…. We had a battle. Finally, we had to get a motor-driven winch to lift them off the ground, one at a time, and place them onto the truck. They were three very unhappy donkeys.

“I took them to my brother-in-law’s pasture to stay until I could resell them. I tripled the price to $75 each, ran an ad in the paper, and got a call the very next day. The buyer came over to see the donkeys. He loved them, and agreed to pay $225 under the condition they would load into his truck.

“I thought, ‘Oh, my God!’

“The buyer swung his truck near the donkeys. I gloomily walked behind the truck, steeled myself for a battle, lowered the truck’s tailgate, and got the surprise of my life—all three donkeys, easily and quickly, jumped right up and into the guy’s truck unassisted!”

My, my, Mr. Blixseth is so folky!  HAHAHA.  I have had many large mammals: horse, oxen, sheep.  When I put sheep in my truck, I had to have a roof over their heads or they would jump out.  On top of that, the maximum number of sheep in a large truck that was 8’x5′ was six.  Donkeys are the same size as ponies.  Ponies are not that small.  They are much bigger than sheep.


Putting ONE donkey in the back of a truck is ridiculous since the sides of the truck are not very much higher than the donkey’s knees!  They just hop out again.  Secondly, it is IMPOSSIBLE to put in three.  Just impossible.  So, before this scam artist went bankrupt and is now in deep trouble, several years ago he was making up stories about donkeys.  


Another thing: large mammals hate being transported.  Getting any of these guys to go in and out of trailers [I NEVER ever heard of anyone transporting them in the back of a truck!] is tricky, nasty and often, dangerous.  And you need a ramp, even for the sheep.  They never ‘jump in’.  


The Publisher’s Page – Tim Blixseth

To offset a young whippersnapper from competing, lumber tycoons deliberately lost money on timber sales to bury him. It caused Blixseth to load up with a lot of high priced timber.

In 1981, when Blixseth was 31, interest rates soared to 22 percent, timber value dropped by 90 percent, and bonding companies seized assets. He went to the attorney of his bonding company and asked for five years to make it right. 
“I’ll never forget the guy,” recalled Blixseth. “He said: ‘You know, I can pick a loser pretty well and I don’t think there’s any way you can make it happen.’

“They seized my assets, I lost everything, and had to go bankrupt.

This clown was a dead beat in the past.  Just like Donald Trump.  An astonishing number of the dead beats in trouble today are previous dead beats who got in trouble in the past!  Why on earth would anyone trust someone like this guy?  And the story here!  He claims, the tycoons deliberately lost money so they would bury him?  That is plain silly.  


So the end of this story is, a bunch of high-flying executives got fleeced by this lying, bankrupt bastard.  It is rather funny, actually.  I bet Mr. Cass would sigh and say, ‘Buyer beware!  Why have courts and laws protecting buyers if people will cheat them, anyway?’


Mother of Palin daughter’s boyfriend arrested 

Alaska state troopers have arrested the mother of Bristol Palin’s boyfriend on drug charges.

Sherry L. Johnston was arrested Thursday after troopers served asearch warrant on a Wasilla home. The 42-year-old Johnston has been charged with six felony drug counts.

And last of all: amoral stupidity is in all social and religious groups.  I would suggest, some of the most pathetic losers are born again Christians.  They seem to be the easiest people to swindle or con.  Palin presented her community as the ‘real’ America that was wholesome and good.  With her wretched family as a prime example of good Americans.


Wasilla sounds more like Twin Peaks.  The Meth capital of Alaska.  And this reminds me of that con woman, Palin: she is very skinny and talks nonstop.  While her eyes dart all over the place.  She nearly talks backwards.  She reminds me of speed freaks.   


They are all crazy!  And they want to rule us.  Or at least, cheat us.  And in the process, are cheating each other, screwing up everything and driving not only themselves and their friends into bankruptcy but are driving our nation into bankruptcy!  Arrest them all.





Filed under .money matters

40 responses to “ALL IN THE FAMILY IV

  1. Let’s see if the xhtml works.

    Wasilla sounds more like Twin Peaks. The Meth capital of Alaska. And this reminds me of that con woman, Palin: she is very skinny and talks nonstop. While her eyes dart all over the place. She nearly talks backwards. She reminds me of speed freaks.

    How about Cicely, Alaska, from Northern Exposure? I remember it being waggishly called “Twin Peaks Lite” back in the day.

    Sarah Palin a speed freak? Nah, I don’t think that’s her drug of choice. Instead, she rips out a page of the Bible every day, melts it down, and shoots that up instead. (Hat Tip to Issac Bonewits, who first wrote that line in “Real Magic” to describe the Jesus People in Berkeley during the late 1960s.)

  2. Oh, and a happy Solstice to you, Elaine! Do you have a Yule log to burn?

  3. nah

    My, my, Mr. Blixseth is so folky! HAHAHA. I have had many large mammals:…. heheh… heh… heheheh… I listened to palin and was like whoa whatd’ she say… listen again… oman thats kinda smart… then she did it again… i was like whoa whatd’ she say… and it wasnt so smart… so that was the end of tha’ fantasy… i wish people could be smart all of the time like you elaineeeeee… heheh.. heh… heheheheh…
    heheh… not so smart

  4. Bear of Little Brain

    Did I black out? Where’s Part IV and part V? 😀
    There again, what did the Romans ever do for us?

    (Monty Python, Life of Brian, natch)

  5. Bear of Little Brain

    That bit about Dreyfuss suing his own father… Weird – to me. Oedipus complex? Crazy ‘ol Siggie has him nailed, maybe:
    “Freud also held that the unsuccessful resolution of the Oedipus complex could result in neurosis, pedophilia, and homosexuality.”
    Call the Thought Police.
    Wonder if loopy Freud ever considered himself a candidate for his notion of Projection? There’s that rabbit hole again…
    BTW, Freud was always worried (neurotic? 😀 ) that psycho-analysis was being referred to as “the Jewish Science”.

  6. Bear of Little Brain

    Time to go slaughter a few first-born, just to make sure the days start getting longer again. Works a treat. 😉

  7. emsnews

    OOPS I meant part IV. Will fix. Was tired last night after snow plowing, etc all day long.

  8. don

    Elaine: the hits just keep on coming. Next thing
    you know, their will be Dave Letterman’s top
    ten on Madoff. I am enjoying your novel. I cant
    wait to see the ending when you say he is going
    to jail for 100 years and dragging the rest of them with him. What I dont understand is how a man
    can get house arrest, while Ramone in Cleveland,
    steals a pack a gum and is still sitting in jail
    awaiting his trial. Equal Justice? Elaine, you are the best…

  9. seraphim


    You are a Goddess (perhaps Kali- brrr!).
    Anyhow Kali burns out the unworthy (through her devotees sometimes She garrot them). The Gnomes.

    I discovered you recently. Sometimes I can’t really follow your arguments because I am not American. But I keep an eye on what’s going on there because it affects us all.

    Well, viewd from outside it is clear as crystal that the Jews dominate the American life to such an extent, that even the criticism of their most obvious wrongdoings, by Jews (or Israelis for that matter) is always qualified. Most of the times a similar wrongdoing by Christians is invoked in the same sentence. And the ghost of the “six million” is always invoked to stifle any justified criticism. So, the media chose to shed crocodile tears over the “plight” of Elie Wiesel as if he was not part and parcel of the scam in the first place. And the “shoahbusiness” moghuls Spielberg and Katzenberg. Kali caught up with them! Nobody shed tears at their discomfiture. They deserve it. Especially Wiesel, whose odious lies have been repeatedly exposed, but nobody dared to take any action against his outrageous demands (he is a “survivor” and a Nobel Prize winner!). Justice is served in mysterious ways! And where it hurts the most, money, money, money!

    To come back to Madoff, how could anyone who is in his right mind not be scared by the appointment of Mary Schapiro to the SEC, allegedly to clean up the mess of which she was part of. Is her appointment ment to wipe out the traces? I bet 100/1. And then to denounce the “conspiracy theorists” and…yes, the antisemites.
    And, just a guess, the last act of the outgoig president: the pardon of Madoff! Sounds silly? What was the last act signed by Bill Clinton? You know, as I know, as the whole world knows: the pardon of Mark Rich, at the behest of the PM of Israel, because he was so helpful to the Jews! No matter that he defrauded the USA of billions of dollars!! What are American taxpayers for? There is very serious talk that the “people” defrauded by Madoff might be entitled to “investment fraud protection”! So, after they reaped huge benefits from fleecing the gullible “investors” who dreamt of a cosy retirement on the French Riviera (or at least on Palm Beach)after retiring well before their working time was exhausted (unlike the, say, cleaners, who must work past their 70’s to fund their retirement)they would be entitled to claim back their investments!

    Certainly it was one of the many aspects of the “Goddess” which curtailed their dreams. The scam was ment to go forever, Madoff just started to tap in what he (and his ilk) thought was the inexhaustible pond: Asia, China. They were just about to export “democracy and freemarket” to China, which was thought to adopt the “reforms of the financial system”. It did not happen in time, whence the debacle.

    I think that it was Russia before, when the ugly bogeyman Putin put the “oligarchs” who were plundering Russia where they belonged, in jail (pohod na Sibir!). You certaily know that the nasty Russkis still pester the New York Bank (which operated as the fence for the embezzeled money from the retirement funds of russian pensioners at the end of the 90’s by the Jewish misnomed Russian Maphya) to return the money. The New York Bank, obviously, refuses indignantly! Not many people, to my knowledge, asked the right questions. How come that the russian “oligarchs” were all Jews? How come that many american people in decision making positions bear names like Joffe, Axelrod, names prominent in the Russian Revolution, (to name the few who come to my mind, and disregarding the trotskites who transmogrified themselves into “neocons” like all the American-Jews who trace their ancestry to Russia like Richard Pearl, Wolfowitz, Kristol e.a). And not to mention the well known support of American Jewish finaciers (like Jacob Schiff – the rabid antirussian tycoon) for the Russian “Revolution”.
    So let the Russkis know that we have the missiles at their door. And Ukraine and Georgia want to be in NATO. Well in Georgia it did not go exactly according to plan. The Russkis did not play fair! They were supposed to be thrashed by the valliant Kartveli tigers equiped with the state of the art NATO gizmos against which the rusty russian tanks were no match! But what did this eternally unreliable people do? They sent their nasty SPETSNAZ who destroyed in just few hours the command systems of the NATO-Georgian army and then they had a “military walk” through Georgia. And then, oh God, they started to put demands! To remind people that they have a hand on the gas tap in the approaching European winter, which is very much like the one you, Elaine, experienced recently!
    You may bet, Elaine, that I don’t give a f… for Spielberg’s fraudulent films. I have even the “chutzpah” to prove that he distorted the facts (in the for the “goyim” version of the “Schildler’s List” at the end the liberated prisoners chant the “Jerusalem of gold” – the famous “hit” that is almost the “second anthem” of Israel, that turned out to be a plagiarized verion of an ancient basque lullaby. Well, the version of the “Schindler List” that was issued in Israel changed the final song! The Israelis were not so dumb not to realize that a song invented in 1964 could not have be sung in 1945, even if it was a song that stirred the IDF when they reached the famed “Wall” in Jerusalem. The hoax came out recently when the “author” confessed on her deathbed that she plagiarized a song that she heard in Israel at a peformance given by a famous spanish/basque singer (Paco Ibanez, who had not the “cohones” to recognize that he was palgiarized, but even to fell proud thet Israel used his song! Et voila!).

  10. Tell

    “ANCHORAGE, Alaska (AP) — Alaska state troopers have arrested the mother of Bristol Palin’s boyfriend on drug charges.”

    “Sherry L. Johnston was arrested Thursday after troopers served a search warrant on a Wasilla home. The 42-year-old Johnston has been charged with six felony drug counts.”

    “Troopers did not identify the drug involved in a brief mention on the agency’s Web site.”

    “Johnston is the mother of 18-year-old Levi Johnston. Alaska Gov. Sarah Palin, the GOP nominee for vice president, announced in September that her 18-year-old daughter, Bristol, was pregnant and Johnston was the father.”

    “Sherry Johnston was released from jail in Palmer on $5,000 bail.”…

  11. Tell

    “Governor Blagojevich presents his CV for a nice new well paid job for him, his wife or both of them”…

    Main site…

  12. emsnews

    The Holocaust was very real. My father was one of the first Americans to come to Dachau in the spring of 1945. He was very much the first American to come to Buchenwald. While searching for the secret rocket caves.
    The horrors of the Holocaust are being repeated in Palestine. This is the whole problem: Jewish people are exploiting the crimes of Nazi Germany to justify their own ethnic cleansing crimes. This is criminal, of course. Even worse, the actual Jewish victims of the Holocaust are not given the money that Germany and others give to Israel. This is why the son of Holocaust survivors lost his university position when he exposed this scam.

  13. john east


    It’s very easy to become bitter and twisted as these revelations unfold. I’m not suggesting this of you, but many people with whom I have discussed the scams gradually coming to light as the finance system craters, scams such as the Madoff ponzi scheme, the unjust Wall St. bailouts and bonuses, the punishment of savers etc., are consumed with anger.

    Might I suggest to those angry people out there that anger is a destructive emotion. It’s Christmas after all, and it might be more conducive to one’s mental well being to take a more philosophical approach.

    I’ve read quite a few articles and books analysing the boom-bust cycle, many written years ago before we got anywhere near the current crisis, which predicted the inevitable occurance at the peak of every boom-bust cycle a wave of cronyism, corruption and fraud which always comes to light when the ensuing bust unfolds.

    So it’s probably healthier to accept what is happening today as an inevitable part of a grand cycle. The personalities and names differ cycle to cycle but the crimes remain the same.

  14. Bob smith

    I need to remain anonymous for now, so I will trust you.

    The mastermind behind Bernard Madoff and his associate for more

    than 16 years has, until now, escaped scrutiny from the media and from law enforcement.

    His name is Frank J. Avellino.

    Avellino has been swindling people with Madoff for years.

    In 1992, the SEC investigated Avellino in an illegal $440 million

    securities case, but let him go.

    See Wall Street Journal article – Dec 16, 1992:

    Avellino has been scamming people with phony investment schemes,

    but not limited to the rich and famous.

    He preys on innocent people with only $10,000 – $100,000 that

    he tells has access to the top people and proven profits on Wall Street

    and because their investment amounts are too small, he will bundle them with his

    funds which endears them to him and makes them feel safe and secure.

    Many small investors have lost their life savings.

    Avellino won’t even face his victims.

    He had his wife call them last week and inform them that their money was lost

    because it was invested with Bernard Madoff.

    None of them had ever heard of Bernard Madoff, as their investments checks

    were written to Frank J. Avellino personally. He deposited them in one of his accounts at Citibank.

    Annually he would send each investor a statement from Kenn Jordan Associates, an alias.

    Avellino is hiding out in his New York apartment.

    Frank Ave llino (212) 396-0404 655 Park Ave, New York, NY 10065

    He also has a $4.5 million house at 223 Coral Lane in Palm Beach,

    And a $10 million house on Nantucket Island.

    Law enforcement should force him to sell his properties and pay back all of the


    Frank J. Avellino is a crook and needs to go to jail with Bernard Madoff.

    Please expose Frank J. Avellino as the fraud he is and I hope the authorities get him this time.

    Thank You.

    Avellino and Madoff have been working together, in tandem, operating the same Ponzi

    schemes. Some believe Avellino introduced the Ponzi scheme concept to Madoff and

    taught Madoff how it would work. These two have been working together for more than 16 years.

    I know people, including my brother on Nantucket Island that have lost all of their money investing with Avellino,

    Their losses are in the $ millions.

    Avellino claimed he lost their money with Madoff, but there is no paper trail that he ever

    sent their money to Madoff. Avellino used a company named Kenn Jordan Associates

    to send annual statements to his victims. They have consulted with attorneys, so

    the Avellino/Madoff connection will become public soon.

    Read page 3 of the SEC report on Avellino and Michael S. Bienes, another Madoff associate.

    Avellino and Michael S. Bienes were partners, operating the same Ponzi scam,

    Avellino, Bienes and Madoff are all linked together in the same fraud.

    I will keep you in the right direction, but I need to remain anonymous for now.

  15. Bear of Little Brain

    John East:
    This is not about anger. It is about Justice. Nemesis has a cold head and a cold heart. Do you think these people have mercy in their hearts?
    This is no time for fatalism. There is a cancer in the system, not a mild cold.

  16. Gary

    On the light side…..

    Stephen Speilberg should make a new movie

    “Swindlers List”

  17. emsnews

    Yes, Bob Smith, when I saw the Avellino/Madoff connection, I got pretty angry. Avellino got off easy and I was mad about that, back then. But I didn’t know of the Madoff connection to that crook until today.
    There are a lot of huskers out there like Trump or Avellino or the Montana guy I wrote about the other day who go bankrupt or tangle with the law over and over and over again. Yet they never seem to go to jail at all or very long and end up pulling more scams nearly immediately after getting out of Jail Free cards.
    They MURDER people by driving them to suicide after losing everything. This is a serious crime.

  18. Tell

    “Federal Reserve sets stage for Weimar-style Hyperinflation”…

  19. john east

    Bear of Little Brain, I was not trying to encourage fatalistic acceptance of Madoff’s actions, although I accept my post could be interpretted as such. Personally I wouldn’t give a damn if they hanged the thieving bastard, but I still refuse to get upset. Better to stay cool, buy some more 10 year bunds and some more gold, or whatever you see as beneficial for your financial wellbeing over the coming months, and enjoy Christmas.

  20. David

    During this “All In The Family IV” criminal activity, we can be almost certain that our closest “friend” in the Middle East had full knowledge of what was going on–after all, our “friend” has one of the very best intelligence services in the entire world.

    Yet, our Middle Eastern “friend” made no apparent move to expose this to the US leadership or to prod it’s “friend,” the US, into cleaning the thieving trash and riff-raff out its financial system. Sure, the US is willful in so many ways, but our “friend” has an awful lot of “influence” here.

    We all can easily guess why our “friend” was silent about all of this. In fact, Elaine has openly explained it to us several times.

    Now, that the world economy is reeling, and the US is being economically destroyed by this criminal financial activity, perhaps a lot of people who have been operating so selfishly behind the scenes should “come clean” (even if this occurs secretly behind closed doors in conferences with US leaders).

    Our “friend” should also be searching desperately for ways to help the US save itself from utter economic destruction. If such destruction occurs, and this is looking more and more likely, the US cash cow will be slaughtered forever, and our “friend” will have to go it on its own in today’s world where stirred-up hatreds are running at a fever pitch.

    In such a situation, it’s gonna be kinda tough going for our “friend.”

    Hey! If members of one’s family REPEATEDLY become so burdensome and dishonest that they are destroying the welfare of the entire family, the family often has to exile them to the fates they chose for themselves…even prison if that is what it takes. Also, the family itself has to nourish its good-standing with its neighbors and “friends.”

    Only a misguided “family group” would try to deceive the entire world around it, including its “friends.” This openly invites its own destruction no matter how much chutzpah its elders have.

    Just a few rambling thoughts…

  21. john east

    “Our friend”, as you euphemistically refer to Israel, may or may not have known about the Madoff ponzi scheme, although if they did know it’s perhaps a bit surprising that many wealthy Jews and Jewish charities lost everything when this scam was uncovered.

    Even so, had Israel known, there would have been no need for them to have informed the US authorities because the US authorities already knew. Here is an extract from The Big Picture blog which spells out in some detail the complicity of the SEC in this affair:

    What follows is the Harry Markopolos complaint to the SEC, circa November 2005, identifying 29 red flags that Madoff was a fraud. This highly detailed complaint was filed regarding the apparent Fraud at Madoff Securities.(

    It might be worth while questioning your own government first before trying to point any finger of blame at the Jews.

  22. The zio-mafia deleted my ptevious post. You will find it here yet again. And now you will find it on 100+ other sites!:It’s all nuts, folks. This Israeli/ zionist propaganda overreach looks to be precisely the ticket to the next holocaust. I have haunted the internet for many, many years, and if I know of one safe haven for liberal critics of the zionist agenda, other than this, it does not come to mind. Maybe Alex Jones. That’s it. And I have passwords for well over 200 sites. This kind of repression will do anything but ensure the safety of Jewish people. Here is a (former) website run by a very right-wing guy who speaks in terms of “racial pride” and “the Jewish agenda.” But I do not get the impression he desires to gas anyone:
    Zionist Watch
    He is getting out of WordPress, and will start a new independent site soon:
    White Wraith

    Federation of American Scientists
    Israel: U.S. Foreign Assistance
    Israel is not economically self-sufficient, and relies on foreign assistance and borrowing to maintain its economy. For the past ten years, the United States has provided $3 billion in grants annually to Israel. Since 1976, Israel has been the largest annual recipient of U.S. foreign assistance, and is the largest cumulative recipient since World War II. In addition to U.S. assistance, it is estimated that Israel receives about $1 billion annually through philanthropy, an equal amount through short- and long-term commercial loans, and around $1 billion in Israel Bonds proceeds.
    In the U.S. climate of budget cuts, many are debating possible reductions in U.S. aid to Israel. Israeli Prime Minister Netanyahu told a joint session of Congress on July 11, 1996, that Israel would reduce its need for U.S. aid over the next four years.
    U.S. aid to Israel has some unique aspects, such as loans with repayment waived, or a pledge to provide Israel with economic assistance equal to the amount Israel owes the United States for previous loans. Israel also receives special benefits that may not be available to other countries, such as the use of U.S. military assistance for research and development in the United States, the use of U.S. military assistance for military purchases in Israel, or receiving all its assistance in the first 30 days of the fiscal year rather than in 3 or 4 installments as other countries do.
    For FY1996, (P.L. 104-107) the United States provided Israel $1.2 billion in Economic Support Fund grants, $1.8 billion in Foreign Military Sales grants, $80 million in refugee settlement grants, $2 billion in loan guarantees for refugee settlement (Title VI, P.L. 102-391, October 6, 1992), $10 million in cooperative development grants for Israel’s foreign aid program, and one-half of the $7 million regional cooperation assistance shared with Egypt. Similar amounts will be provided for FY1997.
    On March 14, 1996, President Clinton pledged an additional $100 million in anti- terrorism funds for Israel ($50 million of which was provided in the Omnibus Appropriations bill, P.L. 104-134), and on 28 April 1996, the President offered $200 million for deployment of the Israeli-built Arrow missile and $50 million for a laser anti-missile weapon.


    Somerville [MA] Divestment Project
    What are Israel Bonds?
    Israel Bonds are securities issued by Israel that are backed by the credit of the Government of Israel. According to a March 2005 report by the Congressional Research Service (CRS), “Israel is not economically self-sufficient, and relies on foreign assistance and borrowing to maintain its economy. Since 1976, Israel has been the largest annual recipient of U.S. foreign assistance, and is the largest cumulative recipient since World War II. In addition to U.S. assistance, it is estimated that Israel receives about $1 billion annually through philanthropy, an equal amount through short- and long- term commercial loans, and around $1 billion in Israel Bonds proceeds.” Money raised through the sale of the Bonds goes directly into Israel’s treasury.
    Are Israel Bonds good investments?
    Since none of the volunteers are economists, we can’t answer that question. All we can do is point to the latest ratings by the World Bank, which led economists in Business Data Israel (BDI) to conclude that “Israel is considered one of the riskiest places in the Western world, with an unstable, inefficient regime, low accountability, a relatively high rate of state corruption and poor law enforcement”. BDI economists noted that the low indices hamper foreign investment, raise risk premiums on financial markets and hurt resource allocation.” However, whether good or bad investments, to us the point is socially responsible investing.


    News from Jerusalem
    News from Jerusalem is operated by Bible believing Christians here in Jerusalem, Israel. Prophecy unfolding today from the heart of the conflict presented from the epicenter in a biblically correct (unbiased) report – News from Jerusalem is your connection to the land of Israel for days when information from a biblical perspective is essential to our survival.
    Amid recession, Americans eye aliya
    Ely Cole, a 25-year-old accountant from Columbus, Ohio, says he always dreamed of moving to Israel but worried about leaving his high-paying New York job before he’d established a career for himself.
    Now, that job is gone, and Cole is on his way to the Jewish state, joining a wave of returning Israelis and new immigrants fleeing the dismal economic outlook in the US.


    Emet News Service
    “Our right to this land, in its entirety, is steadfast inalienable and eternal. And until the coming of the Great Redemption, we shall never yield this historic right.” David Ben Gurion, former Prime Minister
    6. US Economic Situation Yields Increase in Aliyah
    Due to the economic crisis in the United States, many Jews who postponed making aliyah (immigration to Israel) are now seriously considering it, especially those who have recently lost their jobs or businesses. The job losses, initially centered in the financial industry, are beginning to spread through the economy, touching everyone from lawyers to book publishers to independent business owners whose holiday sales expectations have nearly evaporated. When pressed what opportunities they hoped to find in Israel, considering that the economic crisis is also affecting Israel and could get worse there, they did not mention specific job plans but expressed optimism that something would work out. The Jewish Agency and the Absorption Ministry have responded with a series of employment conferences across North America, set to begin Sunday in New York, promoting tax incentives for new immigrants and returning Israelis, education grants and job opportunities. Additional job fairs will be held in Boston, Chicago, Toronto, San Francisco, Miami, Washington and Montreal. The agency has seen a sharp uptick in queries since September, when the failure of Lehman Brothers triggered a chain of events that has left the US economy frozen.
    “As the shepherd seeks his flock, in the day when there is darkness and clouds, in the midst of the sheep that are separated, so will I seek out My sheep, and I will bring them back from every place where they were scattered in the day of clouds and darkness.” (Ezekiel 34:12) [Jerusalem Post]

  23. David


    I am, in a roundabout way questioning my own government since several close administration advisers have dual citizenship with our “friend.” If our GOP administration knew about the super-destructive Madoff ponzi scheme, then those dual citizens knew and so did our “friend.”

    What I’m getting at is that true “friends” help “friends” and the US has certainly helped its “friend” more than any other country in the world so its about time for our “friend” who apparently has so very much influence with the outgoing and incoming US administration to get it’s act together and come to our rescue. This can be done sending out the word within the “family” that the “family” is throwing those crooks and outright thieves and traitors in its “family” to the wolves (US regulators and prosecutors) and that protecting them is a no no. The “family” should have its loyal influence peddlers prod and encourage the US administration and authorities to really go after these criminals. After all this “friend” appears to have more influence with our leaders than the US voters…and it is in their interest that the US economy survive to some extent, if friendship, and friends protecting friends means anything.

    Now, do you understand?

  24. David


    I’m not throwing out accusations. I’m asking for help?

  25. emsnews

    It looks increasingly like friends of Madoff in the SEC protected him. They must be hunted down. We know the Madoffs had sex with SEC investigators, one of them married a Madoff.

  26. Jither Jee

    It’s all about shoveling private debt onto public shoulders.
    See the collapse of Iceland, due to Kaupthing. See ‘Kaupthing’ on Wikileaks or
    Also, Madoff was a market maker for many years, since 2007 at least, along with some large players, like Goldman etc, and ‘oversold’ gse’s, like them, as well.

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  34. I’m curious to find out what blog system you happen to be using? I’m experiencing some minor security issues with my latest blog and I’d like to find something more safeguarded. Do you have any suggestions?

  35. Wow! What a scam that was. I think there should be strict punishment for financial fraud also. There are many people who do financial frauds but this was one of the biggest scam. Many lives depends on money. And if any person’s money is taken in such fraud then that person’s life is ruined. So there must be some serious action against such fraud.

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  37. I enjoy this blog so much, saved to my favorite bookmarks.

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