Bernard Madoff A Former Chairman Of The Nasdaq Stock Market

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Madoff's purported secret trading system to help operate its institutions. Sterling Equities, the investment vehicle of the Wilpon family, which owns the New York Mets baseball team, had $300 million reportedly invested in Ascot. So did some wealthy investors who had money in related hedge funds who were never informed of ties to Ascot.The scandal is bound to reveal the inner workings of the hedge fund industry, whereby intermediary feeders bring in their clients and take fees for putting clients with an investment manager.

Bernie Madoff is in effect serving a life sentence for conducting a $50 billion Ponzi scheme, Social Security's Ponzi scheme is worshiped by politicians across the political spectrum Thus far the truth about the Wilson' financial s has been murky, from the never-proven initial rumors that they lost hundreds of millions of dollars in the Madoff fraud to reports that they actually made money despite the scheme.A court-appointed trustee, charged with recovering funds for Madoff's investors, has said the Meta invested approximately $523 million through Madoff, pro fitting almost $48 million.

Unless Social Security taxes are increased markedly or benefits reduced substantially, or the retirement age raised, or some combination of the three alternatives, it will go belly up in less than thirty years. How anyone can assert SS ‘works" in light of S's financial shortcomings, is the height of irresponsibility.


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