Sunday, March 15, 2009

Madoff Bought Almost $1 Million in Washington Influence Before Fall

As if you hadn't already guessed . . .

Madoff and Company Spent Nearly $1 Million on Washington Influence The man behind a $50 billion Ponzi scheme that has roiled Wall Street and shaken up the nonprofit world was also a long-time contributor to Democrats, the nonpartisan Center for Responsive Politics has found. . . . Madoff made a fortune, and he played politics with some of that money. In total, he and his wife, Ruth, have given $238,200 to federal candidates, parties and committees since 1991, with Democrats getting 88 percent of that. Overall, Madoff and other individuals at his company, Bernard L. Madoff Investment Securities, gave $372,100 in campaign contributions since 1991, with 89 percent to Democrats. The firm spent $590,000 on lobbying in the last 11 years, all but $10,000 of it with the lobbying firm of Lent, Scrivner & Roth. A search for funds with "Madoff" in their title in lawmakers' personal investments did not find any members of Congress with their own funds invested with him. The following party committees, PACs and current members of Congress have received contributions from Madoff and his wife since the 1992 election cycle.
I was thinking at first that the numbers seemed a little bit light, but there again, this couldn't be a complete report of the actual giving. My sublime blogmaster Driftglass has some choice commentary on the wisdom of letting the wise, wonderful and prescient managers at AIG, who expressed no regrets at receiving your sweet taxpayer dollars (over and over again) to keep afloat, pocket money-for-nothing bonuses for their trouble. The reader comments which accompanied the Madoff expose (of which I'll share a few) present a more complete picture of what is actually occurring. One sad corollary is that free rein is now given to the Jewish conspiracy buffs instead of proper attention paid to the exposure of the crazies inhabiting AIPAC.
Today NPR said that Madoof was one of the biggest . . . in history. This is just not so. There are bigger fish to fry. JPMorgan and Haliburton just dissappeared 100 billion out of Iraq. Where's the outcry? Wall Street Fianancial banks (international banks) are looting the entire country and perhaps the globe. Where's the outcry and arrests? Michel Chosudovsky's latest interview commentator | 03.12.09 - 4:06 pm ________________________________ Commentator- You are exactly right. The only crooks who are convicted are those without Republican ties. What about Exxon continuing to loot Iraqi oil for the highest profits of any company ever? What about Fox noise scam artists and Murdoch who make millions from exploiting human instincts for destruction, domination, oppression, and greed? Steve | 03.12.09 - 4:47 pm __________________________ Madoff did not run a Ponzi Scheme. It's a complex fraud and all his people were involved. It is too big to be handled by one man. Obviously, the money went somewhere. Wouldn't be surprised if the money went to one particular country or several countries,and of course a few dollars so Madoff can maintain his lifestyle. Now the nice part. Those that 'lost' their money will get their money back twice over. One way from the Govt and the other in their secret bank accounts abroad, courtesy of Madoff. Khartom | 03.12.09 - 6:57 pm ____________________________

No comments: