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For those of you who get so mad at people getting money they don't deserve — Brooklynian

For those of you who get so mad at people getting money they don't deserve

boygabriel
boygabriel
edited November -1 in Brooklyn Politics

I give you Fred Wilpon and Saul Katz. The owners of the Mets.

Perhaps no individuals were more closely tied to Bernie Madoff and made more money off of his crimes than these gentlemen.

At first I was skeptical of this suit, but jesus the ways these two scumbags made money from Madoff for 25 years while ignoring red flags, looking the other way, avoiding the SEC at all costs, and simply taking profits from investments with completely unreasonable and impossible returns, is mind boggling.

I don't know anything about the law here. I don't know if the victims of Madoff have a right to Wilpon & Saul's BILLIONS in profits. But man, are they scumbags who represent a huge aspect of what's wrong with American society.

Madoff Profits Fueled Mets’ Empire, Lawsuit Says


Comments

  • water ice
    water ice

    I'm amazed that how Madoff and some of the others were able to live with themselves. No conscience, none at all. But I'm really impressed with Irving Picard. He has been so aggressive and really seems to be fullfilling his role as trustee (and advocate). He is also going after JP Morgan, which he accuses of suspendig its institutional skeptisism to further its business interests.

    Several years back, Ben Stein wrote an article (http://www.nytimes.com/2008/12/28/business/28every.html?_r=1&ref=business) in the NY Times about being approached by a private bank with an offer to invest in Madoff's investment vehicle. It makes you wonder.

  • boygabriel
    boygabriel

    Anyone else still mad about people getting (or keeping) money they don't deserve?

    Or do we just get mad when it's poor minorities?

    In Britain, a small group of people in a bar noticed that the cuts to housing subsidies and other programs directly damaging the lives of the poor totaled about £7 billion. Private charity isn’t going to make that up, especially when average Britons are facing a big tax increase.

    The small group knew about Vodafone, a giant cellphone firm, with a tax bill of £6 billion pounds. Vodafone refused to pay, claiming that it was actually doing business at a post office box in Luxembourg. The Conservative Government settled the claim for £1 billion. If Vodafone had paid, it would have covered most of the bill for the cuts to programs for the poor for a year.

    Many giant US corporations pay tiny tax bills here, claiming that the profits are earned in low-tax islands in the Caribbean. Many of these schemes require the companies to keep the money overseas, because returning it to the US will force the payment of taxes. One of the requests of giant American companies when their CFOs had a private meeting with the President, was for another of those “tax holidays”, allowing them to repatriate their overseas money from tax havens by paying 5% income taxes instead of the 35% required by what we laughingly refer to as our corporate tax laws. Bloomberg recently reported on the ways these giants bring money back without paying taxes already, giving an estimate that they avoid payment of some $25 billion each year on repatriated money.

    http://firedoglake.com/2011/02/13/british-uprising-ukcut/

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