Willi , Exile etc .. Pyramids, Susu to Ponzi etc

[Me]

Yes, the majority of people who invested with him/or made the decision to invest with him knew what insider tarding is.

It was an exclusive club of folks and they knew the means was shady.

[Assasin]

"to invest with him knew what insider tarding is"

How do you know this?

[Me]

Cause i know about Madoff thing from before this occurred and I know many people in that industry.

[Islandman]

I am sure some did. That is typical of every Ponzi scheme.

[Assasin]

maybe but he has a very diverse set of investors, not only industry players.

[Islandman]

But isn't it likely that there was some insider trading involved in the early going too? Very few of these things start out as straight-up Ponzis these days, is more when them come under pressure to maintain thier high returns.

[Willi]

Waaay more to this than meets the eye.

Been years since I have been singing the same tune, so surely you dont expect me to change songs now? LoL

I have to laugh, or I would burst out in tears.

Is like its a train wrack happening in slow motion....

2009 will be a telling year. Buckle up.

[Willi]

Did they WANT to know.

I recall battles online with Enron investors back in early 2001. The amount of cloth I was told for daring to ask what was the source of their "exceptional" performance....

[Willi]

I agree!

But he had POWERFUL political connections too.

Look at the charities going bust. Connect the dots....

[Sir X]

I think 2009 will be a killer , anyone thinking we are half way through this has to be smoking the highest grade , I believe we just started.I saw a documentary on 60 minutes where another wave of 4closures with an estimate of a 4 trillon dollar price tab looming.If thats the case and the feds have cut interest rates to 0 may the lord help us.

With the layoffs just begining ,when will it end , there has to be some improvement in the employment rate before we can say , its turning around ?where are the jobs coming from ,if every industry is hit hard? This Big 3 bail out is nothing more than cosmetic make up in this global meltdown.

I hear the idiots on CNN predicting 2009 will be a turn around year, yeah right like , 2008,2007, were turn around years for real estate.

[Sir X]

China executes man for ant-breeding scheme



November 27th, 2008 @ 6:53am



BEIJING (AP) - China has executed a businessman convicted of bilking thousands of investors out of $416 million in a bogus ant-breeding scheme, state media reported Thursday.
The official Xinhua News Agency said Wang Zhendong, who was found guilty of fraud and sentenced to death in February last year, was executed in north China's Liaoning province on Wednesday.
The death penalty is used broadly in China. Though usually reserved for violent crimes, it is also applied for nonviolent offenses that involve large sums of money or if they are seen to threaten social order.
Wang, chairman of Yingkou Donghua Trading Group Co., had promised returns of up to 60 percent for investors who purchased ant-breeding kits from two companies he ran. Ants are used in some traditional Chinese medicinal remedies, which can fetch a high price. Wang sold the kits, which cost $25, for $1,300, local media reported earlier.
Wang attracted more than 10,000 investors between 2002 and June 2005, when investigators shut down his companies. The closure of his business set off a panic among small-time players who saw their life savings disappear overnight.
Xinhua reported earlier that one investor committed suicide after realizing he had been duped. Investigators put the size of the fraud at $416 million. Only $1.28 million was recovered.
Fake investments and pyramid investment schemes have become common during China's transition from a planned economy to a free market. Chinese leaders have tried to eradicate the scams, fearing widespread losses could add to already percolating social unrest.

(Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
AP Scraping Prohibition .

[Willi]

"It appears that at least $15 billion of wealth, much of which was concentrated in southern Florida and New York City, has gone to 'money heaven,'" he said."

What him lawyer name again???

[Karl]

Waaay more to this than meets the eye.

Been years since I have been singing the same tune, so surely you dont expect me to change songs now? LoL

I have to laugh, or I would burst out in tears.

Is like its a train wrack happening in slow motion....

2009 will be a telling year. Buckle up.

Cho, Willi man!!
You have been saying for about two years that the good ole US shall come to no good...but who would have thought that it wopuld be Ponzi schemes that would throw this big dent in her?

There is a funny thing about this large Ponzi scheme - Some think...smaller...and more numerous ones smaller ones shall go bust! ...and if so...then there really shall be hell to pay

Well in rides Obama to the rescue - Unnuh tink di printing presses are rolling? Printing press dem a get ova-haul...den lata hin-fla-shan lacka
dirt

Suh Wiili, ow wi fi mek money fram an during di comin monts? ... years?

[Willi]

2 years?????

Is way back in 2002 mi preaching on here. Ask the Warbus Shatta Cleve!

You think this is the only Ponzi scheme? What you think the derivatives bailout was about? The housing bubble, Enron, tech bubble, IPO frenzy, etc?

The only difference is that the accumulation of evidence is now forcing open the eyes of the ostriches with their heads in the sand. Truth bubbling up to the surface and its offensive truth at that 9but no sin).

Here is another truth for you...not many will tell you this, but...I have NO idea on where tuh m3ek money from in the coming months. truth be told, I am more interested in survival strategies than in vainglorious attempts to "mek money" in the coming storm. The whole world seems likely to be impacted and safe havens will be few and far between.

In plain English and bad manners...the outlook nuh pretty...storm ah come, batten down the hatches.

[Sir X]

Discussed it with a breds of mine , im say fi put yuh money under yuh mattress.