Comments on: Jews, Madoff and affinity fraud: when you can’t trust your own http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/ "She is very powerful, so be nice to her." Chancellor, Ohio Board of Regents, Eric Fingerhut Mon, 15 Mar 2010 15:11:29 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: brian http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/comment-page-1/#comment-225846 brian Sat, 21 Feb 2009 12:47:47 +0000 http://www.writeslikeshetalks.com/?p=11615#comment-225846 Fox News reported today, 90 year old man in Florida lost $700K to [Madoff]. Poor man has to bag groceries now to survive. Lost his retirement! I wonder if anyone in the Government took kicks from this guy and knew what he was up to. No one can tell me that someone in the SEC didn't know what was happening! Fox News reported today, 90 year old man in Florida lost $700K to [Madoff]. Poor man has to bag groceries now to survive. Lost his retirement!

I wonder if anyone in the Government took kicks from this guy and knew what he was up to. No one can tell me that someone in the SEC didn’t know what was happening!

]]> By: oengus http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/comment-page-1/#comment-185041 oengus Sat, 27 Dec 2008 05:14:23 +0000 http://www.writeslikeshetalks.com/?p=11615#comment-185041 this good link on the matter http://www.ynetnews.com/articles/0,7340,L-3644697,00.html this good link on the matter

http://www.ynetnews.com/articles/0,7340,L-3644697,00.html

]]> By: tom sheepandgoats http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/comment-page-1/#comment-184858 tom sheepandgoats Fri, 26 Dec 2008 17:44:58 +0000 http://www.writeslikeshetalks.com/?p=11615#comment-184858 I hadn't heard the term "affinity fraud" before, but I certainly know the concept. Multi-level marketing schemes, for example, love to get a toe-hold in a tight-knit religious community, and take advantage of the trust that exists among members. The Jehovah's Witness organization has warned about this so many times that it rarely happens within their community. It's not that there are "rules: against it....rather it's that there is such an atmosphere in JW congregations that talking up your business schemes using "theocratic contacts" has become a bit like farting in church.....nobody does it. I hadn’t heard the term “affinity fraud” before, but I certainly know the concept. Multi-level marketing schemes, for example, love to get a toe-hold in a tight-knit religious community, and take advantage of the trust that exists among members. The Jehovah’s Witness organization has warned about this so many times that it rarely happens within their community. It’s not that there are “rules: against it….rather it’s that there is such an atmosphere in JW congregations that talking up your business schemes using “theocratic contacts” has become a bit like farting in church…..nobody does it.

]]> By: oengus http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/comment-page-1/#comment-184673 oengus Fri, 26 Dec 2008 03:40:57 +0000 http://www.writeslikeshetalks.com/?p=11615#comment-184673 Although non-fraudulent in intent, a pension fund can share some of the characteristics of a Ponzi scheme in that, except during the final period of the fund's life-span, the outgoing cash used in any month to pay pensions is usually taken from the incoming contributions of the active members of the pension scheme. In a year of poor equity returns such as 2008, a pension fund can often perform worse for its members than a Ponzi scheme. SS does not even have any equity! Although non-fraudulent in intent, a pension fund can share some of the characteristics of a Ponzi scheme in that, except during the final period of the fund’s life-span, the outgoing cash used in any month to pay pensions is usually taken from the incoming contributions of the active members of the pension scheme. In a year of poor equity returns such as 2008, a pension fund can often perform worse for its members than a Ponzi scheme.

SS does not even have any equity!

]]> By: The Reverend http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/comment-page-1/#comment-184083 The Reverend Wed, 24 Dec 2008 20:28:01 +0000 http://www.writeslikeshetalks.com/?p=11615#comment-184083 While I appreciate your point....isn't it true that the biggest reason why Madoff's fund was so attractive was the unusually high percentage payouts he recorded year after year? Without those high returns, Jewish or not, at least in seems to me, Madoff wouldn't have attracted so many big investors. And...no, SS is not a Ponzi scam. While I appreciate your point….isn’t it true that the biggest reason why Madoff’s fund was so attractive was the unusually high percentage payouts he recorded year after year? Without those high returns, Jewish or not, at least in seems to me, Madoff wouldn’t have attracted so many big investors.

And…no, SS is not a Ponzi scam.

]]> By: oengus http://www.writeslikeshetalks.com/2008/12/24/jews-madoff-and-affinity-fraud-when-you-cant-trust-your-own/comment-page-1/#comment-184013 oengus Wed, 24 Dec 2008 18:36:47 +0000 http://www.writeslikeshetalks.com/?p=11615#comment-184013 You know that social security is a Ponzi scam…. You know that social security is a Ponzi scam….

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