The Picower Madoff settlement: A $7.2 Billion Whitewash
(Occidental Observer) -- by John Graham --
On Friday the astonishing news broke that the estate of Jeffrey M. Picower had agreed to cough up $7.2 billion to the liquidator of the Bernard Madoff fraud and the Federal Government. (See Zachary A. Goldfarb, “Madoff investor’s widow to return money,” The Washington Post, Dec. 18, 2010.)
This news was astonishing because the amount – said to be “the largest single forfeiture in American judicial history” – represents a considerable 35% of the amount thought to have been paid into the Madoff Ponzi scheme, raising the prospect of material compensation to some of the victims. And also because the Picower lawyer had been freely telling the press earlier this year he expected to settle for only $2 billion. All apparently was not well on the Picower legal front in 2010.
What was not astonishing was the rush to present what was in fact proof that Picower was a huge looter of the Madoff victims as evidence of noblesse oblige on the part of his widow, and to cover up what actually happened. CNN reports that
Picower withdrew $7.8 billion from Madoff’s investment firm since the 1970s, even though he only deposited $619 million, according to the trustee.In our essay “Is the Madoff Scandal Paradigmatic?,” Kevin MacDonald and I asserted
The Madoff affair was an immense transfer of wealth to Jews from non-Jews (often European).
The SEC was amply informed of the fraudulent nature of the operation, but was afraid to act for fear of the Jewish Establishment.
Several Jewish families besides the Madoffs were tremendous winners from the fraud, but that their complicity would never be appropriately exposed.
This last point is now proving true. The Washington Post reports fulsome praise:
“Barbara Picower has done the right thing,” said Preet Bharara, the top federal prosecutor in Manhattan, who is investigating Madoff accomplices.and allows Picower’s widow (Jeffrey Picower himself had the good taste to die in October 2009) to strike a saintly pose:
“We will return every penny received from almost 35 years of investing with Bernard Madoff,” Picower said in a statement.
“I am deeply saddened by the tragic impact it continues to have on the lives of its victims. It is my hope that this settlement will ease that suffering.”(Why did it take Barbara Picower two years to reach this conclusion?)...MORE...LINK
Chris Moore comments:
Given the outrageous returns, the overwhelming majority of Jews caught up with Madoff had to know full well their investments weren't on the up and up, and were probably proud of that fact ("Gee, aren't us Jewish networks so clever, coining money for one another at the expense of the integrity of the goyim's system, and laughing all the way to the bank.")
But the Madoff ponzi scheme was simply a petite version of the Fed's ponzi scheme, which is also overwhelmingly run by Jews for the benefit of Jewry and its self-serving agenda, and their scumball Left-Right partners.
No wonder so many Jews live with one foot in Israel and one in America -- they realize they'll need some place to go when it all finally unravels as it always has before. Hopefully a lot of their goy partners in crime will convert and go with them; the moral and ethical IQ of the U.S. would double overnight.
Israel identifies itself as “the collective Jew,” and would be identified as such whether it stipulated this or not. Israel can’t hide what it is (for example, a group of state-backed Israeli rabbis recently came out advocating institutional racism against Arabs, and one said “racism originated in the Torah.”) Therefore, the Jewish “nation” will eventually be identified by the world as the self-serving Jewish supremacists that they are and always have been, whether residing in Israel or the diaspora.
This means they will eventually be held accountable for their crimes against humanity instead of being able to disappear into the woodwork as they have heretofore (e.g. the Jewish Bolsheviks and Trotskyites who became the Jewish neolibs and neocons, but now correctly being identified as “Israel firsters,” with an increasing pariah status to match that of their state.)