Madoff Brother Loses Nearly Everything Before Going To Prison

Madoff maid lived in room size of master bathroom

 

Yet another Madoff is going to prison.  The Ponzi Brothers have continued to be dismayed at the repercussions of their crimes because, quite frankly, they thought they were being honest even though they lied, hid things and in general, ran their investment house like a crack house.  Now, the Feds are stripping them of virtually everything to the astonishment of the criminals involved.

 

Bernie Madoff’s brother sells Park Avenue apartment for $4.6million as he prepares to head to prison for 10 years in Ponzi case | Mail Online

 

As part of that repayment process, he sold his two-bedroom apartment in the upscale Upper East Side neighborhood for $4.6million…But Madoff and his wife Marion were stunned to learn that with the sale of the apartment, they were also forced to leave most of their expensive possessions inside.

 

The confiscation of goods is what the Fed does to drug lords and little people dealing drugs.  This confiscation of goods and sale of goods to well-heeled people not going to prison happens all over the world.  I find the information from the British rag most interesting.  The Daily Mail has many more pictures and goodies compared to US media and this time around, they got their paws  on the floor plan of the apartment that was sold to a Chicago lawyer for $4.6 million.

 

What is interesting to me, socially speaking, is the maid’s room off the kitchen.  It is tiny.  I made the square footage in red in the diagram above to show its size and laid this on the bathroom in the master bedroom and it matched it nearly totally.  But the 8 closets are nearly double the room space of the maid!  And these closets held a lot of the expensive clothing bought by the Madoffs to show off their social status.

 

Now, the Madoff females are renting rooms at $3,500 a month.  Poor babies.  Still in Manhattan and this equals 6 months taxes on my own property.  Still, quite expensive rooms, no?  They aren’t suffering poverty and even though Bernie’s brother may be living in a room the size his poor maid occupied while in prison, his wife isn’t living in such circumstances.  I wish she could be lodged in that tiny room for a while and do some good old fashioned scrubbing kitchen floors on her knees.

 

Elsewhere on the legal front:  Federal Judge Dismisses Silver Manipulation Lawsuit Against JP Morgan | SilverDoctors.com

 

Interestingly, the judge also writes on Page 19, “JPMorgan declines to challenge that it possessed the ability to influence market prices.” Of course silver market rigging whistleblower Ted Butler long has maintained that Morgan’s disproportionate position in the silver futures market is by itself highly manipulative.

 

Many of the speculative things happening are legal and were made legal by the rich people playing these games with suckers because it works for them!  And the silver hoarders shouldn’t complain so much, they have high prices for their stuff they hold, no?  The price of gold and silver and other metals has gone way up ever since the Derivatives Beast was born.

 

No longer needing capital nor money to invest in speculative games, the trillions and trillions of ‘new’ money created by this monster flooded all commodity markets and has set them on this roller coster ride where prices have shot up over the last 12 to 15 years while paper money created by the Derivatives Beast is turned into hard metals which are assigned various vapid values.

 

Hint: the true value is no longer part of our economic system, this is all about playing gambling games and anyone with brains knows the House always wins and if it doesn’t it hammers you into the ground and makes life miserable until you give up.  The chaos of the floating currencies are causing sloshing about and sudden tsunamis in commodities which is why we see rampant inflation in these areas punctuated by wild drops in value which makes the statistics look less inflationary than it really is.

 

These sudden lurches up and down are DESTABILIZING everything and the vapid nature of floating fiat currencies that constantly change value vis a vis each other is intensely destructive for ‘price finding’ or so to speak, finding the relative value of any commodity compared to the buying power of any major currency.  Honest markets cannot exist without some stable value currency to use as a guide to exchange values.  This is what ails the international trade system and is why the US runs constant trade deficits while the dollar is still used to gage the relative value of buying commodities even though the dollar is as stable as a barn on fire with the horses unable to flee.

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19 Comments

Filed under .money matters

19 responses to “Madoff Brother Loses Nearly Everything Before Going To Prison

  1. Lucky13

    You amaze me with yr diverse news interests.
    The maid slept in a room 8×8? but she lived in a fancy home!

  2. Richard

    The Madoffs are serving long terms in prison because they broke the one cardinal rule. It’s OK to cheat and rob the Goyim (the gentiles). But if you cheat and rob fellow Jews, and rich Jews at that, you will pay a heavy price. If Madoff’s victims were middle class gentiles in Peoria, this case would never have come to trial

  3. Being There

    Yes, there is a method to the madness.

    Madoff and family were sacrificial lambs as was Martha Stewart and Leona,only the little people pay taxes, Helmsley .

    What these people weren’t were the insiders—the untouchables who run the international scheme. Woe be to those who play the game outside the circle.

    Keep an eye on Jaime Dimon and Jon Corzine, made men of the financial syndicate. When they go down, you know it’s over…don’t expect it though.

    And speaking of graft–did you ever see anything like the Sandy bill that just passed with the corporate communists collecting the lobbyist induced freebies?

    Next time you hear a Republican speaking against government spending, spit in his eye. Their only agenda is to smash FDR. Privatize everything…prices will only skyrocket for you and I, the biggest losers.

  4. emsnews

    ALL legislation has ‘pork’ in it to pass Congress. Always. Singling out a bill that mostly helps the NE is cynical and the GOP knows this and their media owners like Fox TV Murdoch know this but they like to create false outrage.

    I never, ever heard anyone political in the South demand this stop when THEY are doing this so much. Ditto with the sudden concern about overspending from these same overspending politicos.

  5. Small fish as a diversion.
    Meanwhile the big banks pay piddling fines for laundering cartel drug money.
    AIG is just the latest .Fines amounted to 2 weeks worth of profits!

    Property tax should be a lump sum when you buy the property,otherwise you are at the mercies of the local council,etc.
    Do you really ever own the property if they can seize it for want of a year’s worth of taxes you have no control over?
    Property tax is like a infinite interest only loan,you can never get rid of it.

  6. I actually have a problem with even paying for land,much less property tax!!
    I am surrounded by miles and miles of “crown” land that I am told is owned by the country of “Canada” headquartered in a city thousands of miles away. I can’t live on it,it seems to be only available to the owners of tree cutting companies who then turn it into a suburban wasteland.
    Who stole it from the natives that were left.

  7. Lucky13

    Was Leona Rubenstein Helmsly as rich or richer than the banksters?

    If ya wanna read about conniving, read how Ms Rubenstein met
    and wooed the married guy who owned the empire state building.

  8. Christian W

    It’s interesting to see the exact same pattern of destroying the working and middle classes unfolding in the UK. After all the US and UK are run by the banking interests.

    After the the left and liberals were bought out by the moneyed interests, many deluded voters there are now looking at the UK Independence party to ‘save’ them. The UKIP is basically a British version of the Tea Party.

    The cuts to benefits are ruthless now, cuts targeting women, students, normal workers as teachers, nurses, armed forces and so on.

    And of course the National Health Service system is being privatized which means costs will explode…

    All ‘environmental’ policies are essentially scams where private companies charge upfront fees to milk captive consumers…

    Etc, etc along familiar themes…

  9. emsnews

    We pay taxes on property to run society around us. Schools, roads, etc. I seriously doubt one can enjoy one’s land if there are no roads, etc. Seriously. Get a grip.

    All taxes are not evil. They are NECESSARY. How else does any society exist? We called the non-tax societies of Europe ‘The Dark Ages’ where entire communities had nothing and of course, were overrun regularly by invaders such as the Norse, the Angles and Saxons, etc, etc, etc, over and over again.

  10. Being There

    Indeed, Elaine

    Paying taxes is a good thing as long as the money is being used to enrich the environment and the populace. The issue is that we need to fight and make it clear to the people we elect in office that we want our money used for us as a payback for paying our taxes. That’s what society is all about. When you have a healthy system, then the costs to run things are cheaper than if the infrastructure was owned by privatized interests.
    It’s about making clear to the people that they have a stake in the way their precious treasure is used, not to deny civilization the means to run.

  11. Christian W

    The notion of ‘public good’ is escaping more and more Americans.

  12. DeVaul

    Elaine makes an excellent point here once again. I have seen this point made many times, and yet everyone still dreams of a tax-free world. Let’s do a mental excersize. Imagine that all taxes and fees are outlawed starting at midnight tonight by order of Congress, which rescinds all tax laws.

    Pick which person you think will be prowling around in your garage the next night:

    1) the garbage man
    2) the street cleaner
    3) the mayor
    4) the principal
    5) the police officer
    6) the fireman
    7) the city councilman
    8) the sheriff
    9) the circuit judge
    ?) the tax collector

    Think of it this way: the payment of taxes frees us from having to worry about all these people prowling around in our garage, leaving us only to worry about our immediate neighbors. Taxes help us sleep at night.

  13. Joseppi

    “When logic and proportion
    Have fallen sloppy dead
    And the White Knight is talking backwards….”
    Price discovery is hidden in the smoke from the hookah smoking caterpillar and the Federal Reserve’s Primary Dealers deep fiat pockets…..

    “…they have high prices for their stuff they hold, no?”

    Ted Butler’s research says that JP Morgan employs leveraged concentrated short positions to suppress the price of silver. All transactions are done with paper, with no real silver trading hands. Therefor no one really knows the real price of real silver or gold. Manipulated price fluctuations create insecurity in the precious metals market, and profits for the JP Morgan mafia.
    Price discovery will only come about when the paper derivative market becomes obsolete because of a loss of confidence and is overwhelmed by real market demand in real metals. Most bet the price of silver will skyrocket when this fiat currency paper game falls apart due to foreign hands calling the US dealers paper bluff.
    As we see today, to keep the US dollar currency regime going the syndicate must print, and print more credit to fed debt, and as time goes on, the printing has less and less economic stimulation. The US is looking more Japanese each day as Elaine has been pointing out.

  14. CK

    @DeVaul:
    Your list of ten options includes 9 thugs ( government drones) and the garbage man. So the odds are that one of the thugs will be prowling through someone’s property trying to steal it ( probably the cop or the judge).
    If one avoids living in certain diverse urban environments, one does not have to worry about his neighbor prowling either.
    Otherwise your logic is as impeccable as any other thug’s, pay up and we won’t burn your house; rape your kids, trash your business, enslave your sorry ass.

  15. DeVaul

    I told you I sleep well at night after I pay my taxes.

    In the rural areas of Kentucky, they are burned in their beds. Whole families. It’s on the news every night. They say it was because of meth or prowlers, but I would suggest they did not pay their taxes and got a visit from the local mitre.

    It’s just my opinion to explain the senseless slaughter going on out in the countryside. If rural folk would just pay their taxes, they might sleep well at night. They don’t even have any neighbors to worry about, so they might sleep even better than me.

  16. Seraphim

    @Richard,

    You are right. And Elaine is right about taxes. You can play the Viking with the paeons but not with the masters.

  17. emsnews

    ALL commodity markets are part of the Derivatives Beast. I am all for outlawing that thing. Yes, most ‘trades’ are electronic or paper and hard stuff doesn’t move mainly because no one wants it to move! Duh!

    The cost of holding and protecting gold, silver, oil, or even cattle or sheep is HUGE. So the big boys avoid all that mess using paper deals which can be parked in a safe in the office.

  18. job

    devaul- ky sounds creepy. have never hrd of those. will googol.

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