The MacDougal Post: Bernie Update

March 4, 2011

Bernie Update

    Lets say we both built our portfolios up from $1 million to $2 million in less than a decade and closed the accounts. If you did that with Bernie Madoff and I at Goldberg Styx, and I then handed my $2 million over to Bernie just before he ‘fessed up, Clawback Guy wants to take your $1 million profit away from you and give it to me, after his fees, commissions, travel expenses, and sundry other collection-related items, of course. That’s what part of the latest New York Daily News financial reform story is about.

    One of the winners who pulled a pile of dough out of the scheme before it folded was the chief legal honcho at the Securities & Excuses Commission, and we mean chief honcho running the shop when that paper exposed this egregious conflict of interest last month. He’s not with the SEC anymore. He is, however, currently featured in the Daily News’ latest piece.

    We’re providing that link for the benefit of New Yorkers still having trouble acknowledging their Daily News as the nation’s leading source of financial reform coverage:

http://www.nydailynews.com/sports/baseball/mets/2011/03/03/2011-03-03_former_sec_top_lawyer_david_becker_asked_to_testify_about_role_in_handling_of_be.html

Inside the Scam

Short-sellers flood markets with bogus shares, involving buyers in bookkeeping transactions, not stock, and not telling them about it. Wall Street helps hide the fraud with Madoff accounting, even letting shorts pay dividends as part of this scam, duping investors into believing they get real dividends paid by the company they thought they invested in.

Worse, short-selling, in effect, adds these phony shares to the actual total number reported in company financial statements, which goes into the various earnings per share (EPS) calculations, essential components of the critical metric universally used to value common stocks, the price/earnings ratio (P/E). In a selling frenzy, EPS can be cut from, say, $4.00 to $0.40 or $0.04 or whatever, by the immense volume of fake shares these pretend investors are drubbing the real ones with at point of purchase.

Every reference made to P/E as a calculable metric is a lie. Our stock market is gamed by short-side racketeers, rendering equity investment in this country a massive securities fraud. Their humongous swindle purloins much of our savings during every market downdraft.

Odds are the SEC staff belongs in jail. Gangland racketeering is more than enabled by the complicity of our regulatory hotshots. Mob stooges inside that agency have spearheaded these cons for generations, flat out lying to us all those years.

Surely, the SEC's remarkable contention that short-sellers borrow their shares from you and me is, in its downright absurdity, the nadir of arrogance and criminal obfuscation.

That's why we're never asked to go along with it.

Site Exclusives

As our young readers know, any loser who steals mommy and daddy's savings is a stupid ninny.

Wall Street hires the biggest dumbbells in the world. That's because God hates stealers, and the nincompoops don't even know it.

Keep an eye on bad men like hedge fund managers, bank CEOs and proprietary traders right here in The MacDougal Post. Incorrigible dingbats like Mucus Poole-Knightly, Pockets MulGoon, and Lewie the Dip, just to name a few of the head cases found on the site, are contracted to appear here exclusively.

You won't find that kind of financial coverage anywhere else in cyberspace.

Check in with us regularly to find out what's really going on with your money, if there's any left. And when it's all gone, take a shower whenever you can and drop in on us from the local public library.

The MacDougal Post

Prize

March 4, 2011

Bernie Update

Did You Know?

Site Exclusives