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More on Madoff

By Larry Johnson on December 19, 2008 at 6:42 PM in Current Affairs

My business partner, John Moynihan, appeared on Nightline this week to discuss financial swindlers in general and the Madoff case in particular. It is worth your while.

John is a genius when it comes to investigating financial crimes. He is truly gifted at getting to the heart of the criminal activity. He has worked on more than 80 DEA cases and every single defendant has pled guilty rather than go into court and run the risk of a trial going up against the evidence he has put together. We hope we get a shot at Madoff.

BTW, here’s the obligatory Bernie Madoff joke:

Why did Bernie choose the name, “Madoff?” Because “Ripoff” had already been taken.

  • bemused

    What Minkow says starting at 3:44 is too true of O, also. He’s young (at least until the color wears off), he’s cool, how can he not be legit? This is a worthwhile video, it’s just too easy to scam people.

    • AF catfish

      OMG and Mankiw was on Oprah when he was scamming people.

      Oprah strikes again.

      • oowawa

        Yes Catfish. His exact words: “I was on Oprah, therefore you must conclude that I was legit.”

        Evidently an endorsement from Oprah is better than pure gold to a con man.

        • oowawa

          Sorry. I was misspeaking here. An actual “endorsement” was not specified. Maybe it was only an ad or minor interview. An actual “endorsement” would be even more valuable to a con-man.

  • Twinkie

    Breaking Headlines!

    “Hot Rod” sticks it in to the big Zero!”

  • lark

    People, 97.99 percent of people don’t understand why things like these happen. That there are so many criminals stealing money from other people and taking advantage of others by behaving dishonestly. Evil overpowering good. How? Why?

    When prayer was prohibited in our public schools, the deposit of millions and over the years billions of prayers have been lost to nothingness and emptiness. Millions and billions of prayers steaming from innocent, forthright, trustworthy, good and righteous children and youngsters. Loses of prayers that in turn advanced the loss of innocence, trustworthiness and righteousness not only in them but everywhere and everyone. All of those losses produced additional losses in other areas of human endeavor and personal character.

    Let me waste a question: What is worst for our nation, to loose billions and trillions of dollars to wrong decisions, evil purposes and deception or loose millions and billions of prayers to time frames that in themselves became totally unproductive, uncreative and unfruitful? Personally I pick the second.

    • Linda C.

      Maddof was old enough for enforced school prayer…HMM didn’t’ do him much good.

    • grtphoto

      people can’t pray to themselves or elsewhere like home? since are you blaming evil on the lack of “public prayer?”

  • Twinkie

    hmmmmmmmm……..

    Is this true?????

    “If we are going to rebuke Mrs. Bush over ONE saying, then Rick Warren needs to be rebuked for what are YEARS worth of crude and racist comments on HIS site. …”

    http://www.google.com/search?ie=UTF-8&oe=UTF-8&sourceid=navclient&gfns=1&q=%22Rick+Warren%22++Rasist

    RACISM AND LAMPOONING THE VICTIMS OF HURRICANE KATRINA ON PASTORS.COM
    .: posted Thursday, September 08, 2005

    Forgive me for the loooong letter but it is important. Would someone from your group PLEASE post something about this. My editing is terrible and you probably need to look at the site for yourself but something needs to be said on your site about the horrible things the religious right is saying about victims of Katrina.

    I think America needs to know that on Rick Warren’s pastors.com website that there are pastors there making JOKES about the New Orleans victims and some of the worst jokes are coming from the website moderators!

    Rick Warren is the Right Wing Minister that has the best seller “The Purpose Driven Life” and is appearing all over the place and was just on tv.

    The website is a forum to introduce pastors to HIS products and get them to buy them. He has a huge forum that has many pastors on there and the forum is run by his own people. The jokes are demeaning to blacks and the poor and I even contacted Josh Warren (Rick Warren’s son?) and was given the cold shoulder. The coarse jokes against blacks, gays, liberals and other minorities continues to go on every day and the WARRENS KNOW IT.

    http://exchristian.net/letters/2005/09/racism-and-lampooning-victims-of.php

    • candymarl

      But you see that’s not racism and stuff cuz Obama says so. Warren can trash the predominately black Katrina victims and walk. Why? Obama didn’t know about this either.

      Obama knows nothing. That’s why he’ll make a great President!

      • AF catfish

        So much like Reagan. That’s why, I’ve long suspected, BHO admired The Gipper so.

    • beebop

      Hey. Warren won’t know anything about it, either. He just sells stuff there, right? It’s not like it’s his or anything …. ring a bell? Randi, Black Panthers, Bros b4 Whos …. these cons are MADE for each other. Maybe they are trying to negotiate a two for one publishing deal? 0bi and Me? Tuesdays with 0bi?

  • rolling_thunder

    As usual another great post. I enjoyed this.
    For a minute there, I thought the video was about Fraudbama. The part where the anchor said that “people are too trusting” and “never judge a book by it’s cover”..oh yeah. :grin:

    Cons believe their own lies. They smile in your face while they rip you off. Sound familiar OBOTS?

  • fiscalliberal

    We are fixated on Madow. But is not the writing of No Doc loans with stated, but unverified income, the same type of fraud. Are not the rating agencies ( S&P, Moody’s etc) giving out AAA ratings for Mortgage Backed Securities and then later with drawing them the same type of fraud. Are not the Credit Default Swaps (insurance) with out the adeqauate credit reserves for payouts just as bad. Are not the investment banks going 30 to 1 versus 10 to 1 on financial reserves just as bad.

    Madow deserves what he is getting, do not the former investment banks deserve the same. No they are to big to fail. The concept is the same.

  • tpt/ny

    This has really hit some people in LI/NY badly. There is a group of Jewish based “Y’s”, that invested with him & now are hurting.
    Ugh………….!!!!!!!!!!!!
    SOooooooooo Sad!!!

    • Ani

      From what I am hearing, he got people from coast to coast.

  • pm317

    That video and some of the words/sentiments have an eerie similarity to what went on in the election. I hope I am wrong.

  • http://edgeoforever.wordpress.com/ Not your Sweetie
    • pm317

      About Madoff?

    • AF catfish

      Hi – NOW’s Kim Gandy endorsed Hillary in the primaries and campaigned for her as late as Oregon.

  • standard

    Larry, forgive the OT!

    The NYT finally allowed an editorial against the
    Caroline Kennedy coronation.

    Judith Warner makes the case for Carolyn Maloney
    http://www.nytimes.com/2008/12/19/opinion/19warner.html?_r=1&ref=opinion

    • tpt/ny

      Thanks your giving me HOPE!!
      Please sign the petition “High-Lighted” on http://www.dailypuma.com

    • pm317

      Looking at the comments, looks like Obots are swarming it.

  • Chicago Joe

    Can your partner investigate the Rezko-Auchi-Obama connections? Might be some financial crimes there ;)

  • jbjd

    I’ll bet he would love to get his hands on the documents related to the Chicago Combine. He would think he had died and gone to Heaven.

  • http://www.wewillnotbesilenced2008.com OBAMA IS A FRAUD

    OT Maybe…Has ANYONE ever seen Barney Frank SPEAK? Oh my God…we really are a great country because we give our highest jobs to the mentally handicapped. What the HELL is going on here?

  • humanrace

    So
    anyone but me thinking how many politicians are part human part con?

    I am very uncomfortable with the hopium and promises to make things better.

  • I’m a Linda too

    Yes, we know those kind of liars, John. Some elected leaders do that. Nothing but lying Hustlers. Our country just elected one as their president. One that had no problem saying anything for the moment and flipping even the next day. One who makes up stories from speaking to Military troops about his Uncle going up to the attic after returning from freeing Auschwitz, to declaring Gibbs ran the Osama ad campaign attacking him in his Senate race in 2004, when it was Gibbs doing it to Dean.

    Yes, they have similar traits.

    Btw, could you come to New Mexico? You would be kept VERY busy.

  • http://baddemocrat08.wordpress.com obamastolemyboyfriend(akacsuzeq)

    The events of this year just blow my mind! The one question I keep asking myself is this:

    Is there no American who is willing to investigate Barack Obama and his role in Operation Board Games? I do not understand how Barrakula got his get out of jail free card and why. Maybe if someone can enlighten me, then I could finally get it. Right now, it seems no matter how obvious the scams (the mortgage deal, the foreign campaign donantions, pushing IL Senate 1332 and having pols in the pocket)Barky gets a pass. Will this change? Aren’t there any concerned Americans, in a position to do something, willing to stand up and go after this? It’s all so blatant, but blatantly ignored! Anyone? Patrick Fitzgerald? Larry? Anyone?

  • http://www.insightanalytical.wordpress.com Grail Guardian

    Hmmmm. At about 05:30 he says something to the effect of the Con is simply overstating your income and understating your debts. Why do the names Fannie Mae, Freddie Mac, and Wall Street flash in my mind?

    I still think the biggest Con of all times was convincing us to put our retirement funds into the stock market.

  • mary

    Great vid…made me think…thanks, Larry!

    liked the unavailability of “rip-off”! Wonder if that will be Bobo’s new name in his one nad only 4-yr terms?

  • http://www.starik.name/konkurs-ot-drugrevenue-s-prizovym-fondom-3000-dollarov/ Sergey Brin

    Конкурс для блоггеров от DRUGREVENUE с призовым фондом в 3000 долларов, спешите

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