Taxpayers Auto-Cover Madoff Theft

You'll be delighted to know you automatically cover Madoff's theft through our tax code. Consider the moral hazard: turn $50 billion over to a person who then makes it disappear into "bad investments" no one can trace. The "victims," since they are rich, get 40% back immediately out of the paychecks of working Americans.

Where did the $50 billion go? Into the untraceable accounts of the "victims." In less than 6 weeks (note the tax filing schedules) they make 40% on their money, compliments of the taxpayers.

Now am I not saying this is the case in the Madoff affair. No, probably too many people involved to pull it off. But if you think it cannot happen, you need to watch Jack Nicholson's film PRIZZI's HONOR. The scam in the heart of the 1970's story is exactly one such scam.

Condon had 2 stories made into movies: the Manchurian Candidate and Prizzi trilogy (Better to read prizzi's honor, even more fun than the movie). Condon will teach you how Hamiltonian America works.

As an aside, given our tax code, Charities lose their money, and it stays lost. Go figure.

Bookmark this post --- Email this post