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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (9108)	2/27/2011 11:45:00 PM
From: Jim McMannis	2 Recommendations Read Replies (1) \| Respond to of 119361

He ought to know... Madoff to NY magazine: Government a Ponzi scheme news.yahoo.com NEW YORK – Wall Street swindler Bernard Madoff (MAY'-dawf) calls new regulatory reform enacted after the recent national financial crises "a joke" and describes the federal government as a Ponzi scheme. Madoff made the remarks during a telephone interview with a writer for New York magazine. The interview was published on the magazine's website Sunday night. Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He's serving a 150-year prison sentence in Butner, N.C., after pleading guilty in 2009 to fraud charges. Madoff also tells the magazine his wife is angry at him for destroying their family. One of Madoff's sons hanged himself in his Manhattan apartment on the second anniversary of his father's arrest.