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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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To: TobagoJack who wrote (43819)	12/13/2008 10:03:27 AM
From: Mark Bong	Read Replies (1) of 217764

The real Bernie Madoff story: It is clearly possible to manage a large financial institution, grow its business, secure the financial world’s blessings & honors and be suspended on a bed of perfumed air, meaning of course, that it’s all fiction. If Bernie had been willing to convert to a bank like GS and MS, he could have secured TARP funding and keep on going. Silly Bernie! Is Bernie an outlier here? Or is he the status quo? Is Bernie the only financial executive that is sitting at the head of a large financial institution that has less real marketable assets than its books show? His lawyer has a recognizable defense for him. It is called “non-uniform enforcement of the law”. Why single out Bernie? Is it because he has the same first name as the other Bernie (WorldCom)? That one massive notorious bankruptcy was actually sitting on a viable business with real assets. Funny, in its infinite wisdom, stock market investors ignored Bernie's story and Jamie Dimon’s confession the night before and moved the market up with much glowing optimism. Bush, of course, was mounting his horse and getting ready to come to the rescue of the auto industry and save us from ourselves. It is fascinating!

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