50 Billion Dollar Fraud

so?... Is this more money the Americans owes?

due to an idiot?

Byrdie

Help me understand what they are actually talking about. I see that he made bail as his home as a surety but if his home was bought under the scam then wouldn't it be confiscated?
 
Babyblue said:
so?... Is this more money the Americans owes?

due to an idiot?

Byrdie

Help me understand what they are actually talking about. I see that he made bail as his home as a surety but if his home was bought under the scam then wouldn't it be confiscated?
Click to expand...

He commited fraud by using the Ponzi scheme.
 
I understand that. The Pyramid scheme.

I just don't understand how he can use his million dollars home as a surety. If it was bought under the scam. Like with drug dealers they confiscate the home and all properties owned by the person due to the money used by the "deals" or Ponzi
 
So in other words...he got PWNED!

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Byrdie714 said:
He commited fraud by using the Ponzi scheme.
Click to expand...

You are right about Ponzi scheme. Not just that Ponzi scheme, there are other things involved also. Remember, Obama has many friends in Chicago and they could be just like Madoff. I don't mean that Obama is involved, but who are his friends ?

People called Obama a " messiah ".... somethin' is wrong with this picture. :-\
 
Maria said:
You are right about Ponzi scheme. Not just that Ponzi scheme, there are other things involved also. Remember, Obama has many friends in Chicago and they could be just like Madoff. I don't mean that Obama is involved, but who are his friends ?

People called Obama a " messiah ".... somethin' is wrong with this picture. :-\
Click to expand...

:nono:

There is NO connection between Madoff and Obama. So, please do not try to hijack the thread......

:nono:
 
Byrdie714 said:
:nono:

There is NO connection between Madoff and Obama. So, please do not try to hijack the thread......

:nono:
Click to expand...

Ok, the question I want to ask you: Were they BOTH know each other before Obama was President-elect since they BOTH were from Chicago ? Both of them are well-known Chicagoians.

I am sorry, if you feel that I hijack this thread. It was not my intention. Please, accept my apologizes.
 
Maria said:
Ok, the question I want to ask you: Were they BOTH know each other before Obama was President-elect since they BOTH were from Chicago ? Both of them are well-known Chicagoians.

I am sorry, if you feel that I hijack this thread. It was not my intention. Please, accept my apologizes.
Click to expand...

He wasn't born in Chicago nor is he from Chicago

He is a native New Yorker. Born and raised in Queens.
 
$50 billion?!

It's so hard to imagine how one man managed to pull this shit off. Well now Madoff is going to be the most hated man on the planet for doing this.
 
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