Open Thread

By NB Staff (Bio | Archive)
Sat, 12/13/2008 - 11:28 ET

For general discussion and debate. Possible talking point: The biggest investment fraud in history.

Investors scrambled to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader. Prosecutors and regulators accused the 70-year-old, who was chairman of the Nasdaq Stock Market in the early 1990s, of masterminding a fraud of epic proportions through his investment advisory business, which managed at least one hedge fund. Hundreds of people, investing with him through the firm's clients, entrusted Madoff with billions of dollars, industry experts said.

What do you think about this Ponzi scheme? What do you think of the folks that got conned? Are there more of these scams to be uncovered in the months to come? What does this revelation say about our financial system especially given the Ponzi scheme that is credit default swaps and how many companies got conned into buying them? Finally, what does it say that Wall Street totally shook this news off yesterday, and actually rallied?

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Seems no different than any other ponzi scheme.

Sat, 12/13/2008 - 11:53 ET by supercon

Just like the two schemes that were ran at Fannie Mae and Freddie Mac but only with Madoff the price tag was much lower.It's a shame he isn't a Congressman as then he would be in charge of the investigation and the clean up.He could just order that all those people whose money he lost to just be paid with someone else's money and declare himself a hero.

I really see no difference except that Madoff will actually be held accountable for his incompetence and go to jail as Chris Dodd and Barney Frank and others never will be.It seems the laws they write do not apply to them.

I wonder if he will receive some sort of position with Barack Obama as many other architechs of financial disaster have.

You Don't Know How Close You Are

Sat, 12/13/2008 - 16:59 ET by JDW

This pinhead was in charge of making money for people whom he ultimately destroyed. Whatever his NASDAQ credentials, his purpose here was to mismanage.

Today we are governed by libs who know nothing about the industries they are attempting to manage. Realize once again it is our money, what is the difference between Madoff and the libs?

JDW

DAILY WAVE

GOP: A new start with a new team
Rich keep working hard: Millions on Welfare need you!

Who says 40 is old?

Sat, 12/13/2008 - 11:48 ET by shawn228

Jennifer Aniston is on the cover of this months GQ and she looks sensational.

He had my vote

shawn

Sat, 12/13/2008 - 13:39 ET by Noel Sheppard

shawn,

Well, I'm in LOVE with Jennifer, but don't like this picture. Look at it closely and tell me whether the airbrushing and construction of the shot don't make her head and face look too big for her torso.

To me, this picture looks like a photoshop of her face on a body-double. Doesn't work for me. ns

Yes there is airbrushing Noel

Sat, 12/13/2008 - 13:51 ET by shawn228

But her head and face look just fine for her Torso. Not many women her age had as slim and atrractive a torso as JA.

IMO, even though Angelina is no slouch, Brad Pitt made the wrong choice.

He had my vote

I long for the days

Sat, 12/13/2008 - 13:57 ET by cocodrie

when Hollywood had real glamorous women for us to look at. I've had enough of the readjusted, plastic modified caricatures of today.

Amen cocodrie!

Sat, 12/13/2008 - 14:11 ET by choselife3x

The prevalence of plastic is an embarrassment to real women. So much for feminine 'progress'.

In order to be pro-choice, one must first be born. Ah, the irony.

choselife3

Sat, 12/13/2008 - 14:27 ET by shawn228

I agree choselife3 whoever invented silicon should be shot. She might have had a nosejob, but I believe JA is mostly natural.

He had my vote

shawn

Sat, 12/13/2008 - 14:30 ET by Noel Sheppard

shawn,

Well, I think part of the problem is the way it's cropped onto the cover. Check out this slideshow: http://men.style.com/gq/features/slideshow/v/121108JEN.

I also think the problem is the shading around the neck. It makes it look like it's not her face on that torso.

That said, I wouldn't mind being one of those guys in the first picture. Think they were for Prop 8? :-) ns

That said, I wouldn't mind being one of those guys in the first

Sat, 12/13/2008 - 14:48 ET by shawn228

"That said, I wouldn't mind being one of those guys in the first picture. "

Hope your wife and mine are not checking our post today:-)

I am taking a friend from out of town to Sausilito today, It is supposed to rain and storm. Weather is beautiful in the East Bay right now, hope it holds.

Have a great day Noel, congrats again on your son.

He had my vote

Alright guys

Sun, 12/14/2008 - 00:38 ET by RESTLESS 1

I, being the die hard NB'er I am, will offer to get to the heart of the matter. I can see only one resolution to this, and that it to offer my services to go "undercover" with Jen and find out exactly how hot she is.

Don't thank me. It is all in service to this beloved blog.

"This
liberal would be all about socialize -- uh, uh, would be about
basically taking over and the government running all of your companies."-Maxine Waters 2008

Restless you are very honorable

Sun, 12/14/2008 - 01:14 ET by shawn228

Don't forget to keep us abreast of the situation.

He had my vote

Shawn,

Sun, 12/14/2008 - 01:25 ET by RESTLESS 1

I'm more than willing to take one for the team here. It will be hard work, but I shall not wither until my task is complete.

(Geez, I really gotta wake up, huh?)

"This
liberal would be all about socialize -- uh, uh, would be about
basically taking over and the government running all of your companies."-Maxine Waters 2008

LOL R1... A Dream World

Sun, 12/14/2008 - 01:34 ET by bigtimer

LOL R1...

A Dream World is a nice place to be for all of us from time to time.

Dream on friend....enjoy...if you don't, somebody else will anyway.

"America isn't the problem...America is the solution." ~ Rush Limbaugh

you're right shawn

Sat, 12/13/2008 - 15:41 ET by candance

Looking good in an airbrushed photo is much more important than being a social activist who adopts underpriviledged children. What was Brad Pitt thinking?

It's nice to see the feminist movement has gotten us beyond judging a woman as eye candy.

I'm a typical white person.

Well Candance

Sat, 12/13/2008 - 23:56 ET by shawn228

Since Brad Pitt was married at the time they hooked up, I am thinking that Brad thought with the little head.

I have nothing against AJ, just think she is a little odd, ie carrying around her lovers blood in a mini container.

"It's nice to see the feminist movement has gotten us beyond judging a woman as eye candy "

I said she looked sensational on the cover. GQ is a very respected magazine.

He had my vote

Having done my share of photoshopping

Sat, 12/13/2008 - 15:48 ET by katainkent

I can tell you that models, even the famous ones, go through a particular sequence of photoshopping rigors to make them look nice(r).

"part of what I'm hoping to introduce as the next president is a new ethic of [government enforced] responsibility" - B. Obama

There was some study or a

Sat, 12/13/2008 - 18:01 ET by kevcad

There was some study or a survey a while back where it was found that most faces of celebrities are unusually larger than most people in some ascpect, giving them a more photogenic quality. Perhaps this is what caught your attention and not some airbrushing trick?

See for examples Giada de Laurentis or Racheal Ray of the Food Network.

Start each day with a smile, then get it over with. - W.C. Fields

shawn -- well, a semi-naked

Sat, 12/13/2008 - 13:59 ET by Jack Bauer

shawn -- it's a shame that a semi-naked Aniston is, of course, entirely wasted on the avearge GQ reader. Ho hum.

And you got hand it to the lady looking that good with all the disadvantages of massive wealth, a full team of beautarians at her beck and call, and botox by ther gallon!

If you can meet with triumph and disaster
And treat those two imposters just the same...
Yours is the earth and all that's in it...

Well Jack

Sat, 12/13/2008 - 14:05 ET by shawn228

"And you got hand it to the lady looking that good with all the
disadvantages of massive wealth, a full team of beautarians at her beck
and call, and botox by ther gallon!"

Having money does not make you exercise and eat right. Kirstie Allie and Elizabeth Taylor anyone?

He had my vote

The voices in my head

Sat, 12/13/2008 - 15:46 ET by Rackie

Sorry about that vulgar snarc - I'm giving up the vulgar and nasty as a new years resolution to focus on the good. Can't do any harm. Cheers NewsBusters!

Auto bailout bill

Sat, 12/13/2008 - 11:56 ET by ricklail

I was looking at the vote totals for the auto bailout bill. I don’t watch the MSM so I don’t know if this fact was reported. The vote was 52-35 with 40 Democrats voting yes along with 10 Republicans and 2 independents. Four Dems, Backus, Lincoln, Tester and Dingy Harry voted NO. (I don’t understand how Dingy Harry could complain about the Republicans when he voted NO. I know it has something to do with procedure but years from now it will be in the record as a NO-no asterisk for procedural.) Four other Dems didn’t vote, Biden, Kennedy, Kerry and Wyden. Obama’s seat is still awaiting the highest bidder and is open. My point here is that if they had had all the Dems onboard it would have passed. The UAW blames the Republicans when it was the Dems fault. More RINOs voted for it than Dems did against it. Has anybody heard this on the MSM?

One other note. We keep hearing that the Dems will not have a filibuster proof Senate. That is total BS. Looking at this vote along with many others, as long as RINOs, Snowe, Collins, and Specter are still in the Senate they will have it.

YOU CAN KEEP "THE CHANGE" PALIN 2012

This one is almost as bad as

Sat, 12/13/2008 - 12:23 ET by billb

This one is almost as bad as the Barney Frank/ Christopher Dodd scheme

Worried

Sat, 12/13/2008 - 12:23 ET by Worried

I think this is business as usual. We are just a bunch of suckers out here giving our money to unworthy people (those on Wall Street and in Washington). Our country is on the verge of financial collapse and nobody knows what to do. Do we keep cash or do buy gold? Glenn Beck said recently that China is buying vast amounts of gold? Why? Someday they will be the only superpower when they come calling in all their debts from us.

For those of us out here that pay our debts on time, don't overspend, try to save and invest in retirement plans, are the ones that will be hurt most by what is certain to come eventually. Those who have been irresponsible are regretting that they didn't know better. Plus many of them are (were) counting on Obama to relieve them of their debts. It's too soon to tell if this will happen. The politicians are running amuk and we ain't seen nothin' yet!

Madoff vs. Obama

Sat, 12/13/2008 - 12:37 ET by islero47

Wall Street seems to understand that Madoff's billions are a drop in the bucket compared to Obama's soon to be trillions lost.

I haven't seen or read anything so far that will convince me that the market plunge and Obama's election are mutually exclusive.

Sarah Palin/Jason Lewis 2012

Obama, pathological nacissist: http://www.faithfreedom.org/obama.html

Irony from Italy

Sat, 12/13/2008 - 13:50 ET by Rackie

(gobal warming btw)

"Almost all of Italy has been suffering bad weather in recent days, with heavy snowfall blanketing the north and strong winds and downpours pelting the south.

Schools were shut in some southern cities Friday. A small bridge collapsed in the southern province of Calabria, killing a man, local reports said. Eight Boy Scouts were being rescued on Mt. Etna in Sicily after being stranded without food supplies."

What happened to "Be Prepared?"

Colin Powell Endorsed Barack Obama so he endorsed Chicago

Sat, 12/13/2008 - 13:54 ET by laree

emember who endorsed Barack Obama for President..Colin Powell.

New Poll up- What do you think about Colin Powell endorsing Barack
Obama Democrat. My husband who spent 27 years in the U.S. Army, thinks
Secretary of State Colin Powell ?Republican? is a phony. My husband
identifies Independent as I do. I don’t know Joe Lieberman Democrat, he
endorsed John McCain Republican…that didn’t help Joe with the Democrat
Party…did Colin Powell help himself politically with either party? Is
that what the endorsement was all about? Positioning himself on the
winning side? American Politics is not for the Timid. Poll link below vote what's up with Colin Powell?

http://sarah-palin-2012.blogspot.com/2008/12/audacity-of-colin-powell.html

NO REST FOR DODD!

Sat, 12/13/2008 - 14:20 ET by billb

NO REST FOR DODD!

The Dodd Couple

Sat, 12/13/2008 - 14:23 ET by Jack Bauer

and NO ARREST FOR DODD either.

Though there should be

If you can meet with triumph and disaster
And treat those two imposters just the same...
Yours is the earth and all that's in it...

Goodbye, Larry Elder

Sat, 12/13/2008 - 18:11 ET by kevcad

Yesterday was his last broadcast from KABC 790 here in Los Angeles. He will be greatly missed. He was a clear, fair, and challenging voice that needs to be heard again somewhere.

Start each day with a smile, then get it over with. - W.C. Fields