If this sleazeball had knocked off a convenience store for %50 bucks he'd be in jail. Picture to the right is the original Charles Ponzi.
The Securities and Exchange Commission and Bernard Madoff have reached an agreement that could eventually force the disgraced investor to pay a civil fine and return money raised from investors. $50 Billion returned plus civil fine? NOT likely. Maybe they could work the scheme backwards, take last commissioned paid and give to previous investors, etc. etc. Any other fairytale suggestions.
The agreement states that the allegations of fraud cannot be contested by Madoff and that possible penalties will be decided "at a later time."
The SEC says that it has submitted the agreement to a Manhattan federal judge, who has to sign off on it.
Posted by: Alaska Paul ||
02/09/2009 16:43 Comments ||
The SEC says the basic facts of the complaint are that Madoff committed a $50 billion fraud and told his sons his investment business was a sham. Madoff told them he had "absolutely nothing," that "it's all just one big lie," and was "basically, a giant Ponzi scheme," according to the complaint.
Maybe it's just me, but wouldn't that make the "restitution" part of the deal a bit difficult? But, then again, I'm not one of them financial geniuses at the SEC...
The SEC is covering its own tracks that a public trial would show gross incompetence at best and implied collusion at worst. It's just another serious indication how compromised the SEC people have become in regulating the individuals and organizations in the 'business'.
Sure reads like a movie script.
A FAILED bid to smuggle a bus filled with rice into Nigeria at the weekend left seven people dead, including two customs officers set ablaze with petrol. The officers were torched to death by a rampaging mob awaiting the contraband rice after five smugglers died in a car accident as they followed the impounded goods at Kongolam village in Katsina state.
"Two of our men were doused with petrol and burnt to death along with their patrol vehicle by a rioting mob ... who were protesting the death of five smugglers from the town in an accident," Katsina state customs spokesman Awwal Giyade said.
"The five smugglers died when the car they were driving in fell into a ditch while pursuing the officers that seized their luxury bus loaded with the rice they smuggled into Nigeria through the border with Niger," Mr Giyade added.
He said the dead smugglers' colleagues, estimated to have been in the dozens, vented their anger on a three-men border patrol team on routine duty. The three initially managed to flee into Niger, but the mob overpowered the Niger border gendarmes in Maimoujiya village, where the customs officers sought refuge, doused them with petrol and burnt them to death along with their patrol vehicle, Mr Giyade said.
One customs officer survived the attack with serious injuries, Mr Giyade said, without giving details of the nature of the injuries.
"Army and police personnel have been deployed to the border town to forestall further unrest," Giyade said.
An Arizona man who has waged a 10-year campaign to stop a flood of illegal immigrants from crossing his property is being sued by 16 Mexican nationals who accuse him of conspiring to violate their civil rights when he stopped them at gunpoint on his ranch on the U.S.-Mexico border.
Roger Barnett, 64, began rounding up illegal immigrants in 1998 and turning them over to the U.S. Border Patrol, he said, after they destroyed his property, killed his calves and broke into his home.
His Cross Rail Ranch near Douglas, Ariz., is known by federal and county law enforcement authorities as "the avenue of choice" for immigrants seeking to enter the United States illegally.
Trial continues Monday in the federal lawsuit, which seeks $32 million in actual and punitive damages for civil rights violations, the infliction of emotional distress and other crimes. Also named are Mr. Barnett's wife, Barbara, his brother, Donald, and Larry Dever, sheriff in Cochise County, Ariz., where the Barnetts live. The civil trial is expected to continue until Friday.
The lawsuit is based on a March 7, 2004, incident in a dry wash on the 22,000-acre ranch, when he approached a group of illegal immigrants while carrying a gun and accompanied by a large dog.
Attorneys for the immigrants - five women and 11 men who were trying to cross illegally into the United States - have accused Mr. Barnett of holding the group captive at gunpoint, threatening to turn his dog loose on them and saying he would shoot anyone who tried to escape.
The immigrants are represented at trial by the Mexican American Legal Defense and Educational Fund (MALDEF), which also charged that Sheriff Dever did nothing to prevent Mr. Barnett from holding their clients at "gunpoint, yelling obscenities at them and kicking one of the women."
In the lawsuit, MALDEF said Mr. Barnett approached the group as the immigrants moved through his property, and that he was carrying a pistol and threatening them in English and Spanish. At one point, it said, Mr. Barnett's dog barked at several of the women and he yelled at them in Spanish, "My dog is hungry and he's hungry for buttocks."
The lawsuit said he then called his wife and two Border Patrol agents arrived at the site. It also said Mr. Barnett acknowledged that he had turned over 12,000 illegal immigrants to the Border Patrol since 1998.
In March, U.S. District Judge John Roll rejected a motion by Mr. Barnett to have the charges dropped, ruling there was sufficient evidence to allow the matter to be presented to a jury. Mr. Barnett's attorney, David Hardy, had argued that illegal immigrants did not have the same rights as U.S. citizens.
Mr. Barnett told The Washington Times in a 2002 interview that he began rounding up illegal immigrants after they started to vandalize his property, northeast of Douglas along Arizona Highway 80. He said the immigrants tore up water pumps, killed calves, destroyed fences and gates, stole trucks and broke into his home. Some of his cattle died from ingesting the plastic bottles left behind by the immigrants, he said, adding that he installed a faucet on an 8,000-gallon water tank so the immigrants would stop damaging the tank to get water.
Mr. Barnett said some of the ranchŽs established immigrant trails were littered with trash 10 inches deep, including human waste, used toilet paper, soiled diapers, cigarette packs, clothes, backpacks, empty 1-gallon water bottles, chewing-gum wrappers and aluminum foil - which supposedly is used to pack the drugs the immigrant smugglers give their "clients" to keep them running.
He said he carried a pistol during his searches for the immigrants and had a rifle in his truck "for protection" against immigrant and drug smugglers, who often are armed.
Roger Barnett said he had turned over 12,000 illegal immigrants to the Border Patrol since 1998.
A former Cochise County sheriffŽs deputy who later was successful in the towing and propane business, Mr. Barnett spent $30,000 on electronic sensors, which he has hidden along established trails on his ranch. He searches the ranch for illegal immigrants in a pickup truck, dressed in a green shirt and camouflage hat, with his handgun and rifle, high-powered binoculars and a walkie-talkie.
His sprawling ranch became an illegal-immigration highway when the Border Patrol diverted its attention to several border towns in an effort to take control of the established ports of entry. That effort moved the illegal immigrants to the remote areas of the border, including the Cross Rail Ranch.
"This is my land. IŽm the victim here," Mr. Barnett said. "When someoneŽs home and loved ones are in jeopardy and the government seemingly canŽt do anything about it, I feel justified in taking matters into my own hands. And I always watch my back."
Posted by: 49 Pan ||
02/09/2009 15:10 Comments ||
I guess Roger Barnett has learned HIS lesson - shoot first, and shoot to kill. Leave the bodies for the coyotes. Get a few hundred people doing that, and the flow of illegals will dry up.
What kind of idiot judge would accept such a stupid case? HAS to be a Democrat. The judge needs to make an acquaintance with a short rope and a long drop for pursuing this. "MALDEF" needs to be labelled a terrorist organization and drummed out of business, along with anyone who's EVER been a member. I'm getting sick and tired of the continuing reconquesta and the idiots that promote, protect, and perpetuate it. If things don't change soon, and a great deal, I'll even contemplate the nuking of Mexico City, as much as I like that city...
Posted by: Old Patriot ||
02/09/2009 16:54 Comments ||
While it seems ridiculous to you and me, I suspect Barnett is in serious trouble here. Holding someone at gunpoint when they are not demonstrating danger to you is often a violation of some kind (though I don't know AZ law.) The real crime is that the US government is absolutely failing to carry out its Constitutional duty to protect our borders. Unfortunately, you can't sue the government without its consent.
ION REDDIT > 20 MORE US STATES TO CLAIM THEIR SOVEREIGNTY AGZ OBAMA STIMULUS PLAN.
* STRATEGYPAGE > AMERICAN AIR SPACE IS UNDEFENDED [USAF plan to afford, buy advanc F22/35's ATFP's via early retirement of 137 F-15's + 177 F-16's from Air Guard units charged wid strategic mission of intercepting enemy aircraft]???
IFF MEXI ILLEGALS CAN SUE IN US COURTS, WHY NOT THE RUSSIAN AIR FORCE- PLAAF!
D *** NG IT, HOW DARE THE USA = USDOD, USAF, + US CTIES MALICIOUSLY INTERVENE AND STOP A LR NUCLEAR MIRV ICBM(S) FROM RIGHTEOUSLY HITTING ITS CONUS TARGET(S)!
* TOPIX/OTHER > US NINTH COURT RULES "PROTECTION OF MARRIAGE ACT" IS UNCONSTITUTIONAL.
Lest we fergit, UN NINTH > the USA = future OWG-NWO USSA/USR is already an ILLEGAL + UNCONSTITUTIONAL NATION, HENCE HAS NO LEGAL STANDING TO ENABLE OR OBSTRUCT, TO ATTACK OR DEFEND,.........ETC. AGZ ANYTHING + ANYONE + ANY OTHER NATION.
Blackmail against women is on the rise in Saudi Arabia with more complaints to the religious police, according to press reports, prompting some women to take matters into their own hands.
Electronic blackmail, using pictures of women stored on their computer, the internet or mobile phones, has become an increasingly common form of blackmail used to extort money from the victim or force her into prostitution.
Last year 65 women and girls filed cases in Mecca alone, though many never make a formal report, Ahmed Qassem al-Ghamdi, head of the Mecca branch of the Commission for the Propagation of Virtue and the Prevention of Vice told the London-based Asharq al-Awsat Saturday.
A study by the commission last year found that blackmail often involves threatening to harm a woman's reputation by telling or showing her family scandalous information, and that victims typically range in age between 16 and 39.
Blackmail cases often result from an illicit relationship between the offender and the victim, said Ghamdi, though he noted the prevalence of cases in which pictures were taken from or put on a woman's computer or cell phone after being left at repair shops.
WHITTLESEA, Australia (Reuters) - Australia's deadliest bushfire crisis eased on Monday, but the death toll kept rising with at least 108 people killed as families searched for scores of missing in the twisted, charred ruins. Media reported the death toll could reach 170 as authorities searched hundreds of razed homes some 80 km (50 miles) north of the country's second biggest city of Melbourne.
Police believe some of the fires were deliberately lit. "There are no words to describe it other than mass murder," Prime Minister Kevin Rudd told local television. "These numbers (dead) are numbing ... and I fear they will rise further," he added.
A massive bushfire tore through several small towns near Melbourne on Saturday night destroying everything in its path. Many people died in cars trying to flee the inferno, others were killed huddled in their homes, yet some miraculously escaped by diving into pools and farm reservoirs or hiding in their cellar.
More than 750 houses were destroyed and some 78 people, with serious burns and injuries, are in hospital.
Wildfires are a natural annual event in Australia, but this year a combination of scorching weather, drought and tinder-dry bush has created prime conditions for blazes to take hold.
Fires in New South Wales and floods in Queensland. Prayers for our Aussie friends.
Posted by: Steve White ||
02/09/2009 00:00 ||
Top|| File under:
THAT was one HOT fire! I imagine that the tinder dry conditions, along with the gum trees as fuel would make an inferno.
Posted by: Alaska Paul ||
02/09/2009 1:27 Comments ||
Police believe some of the fires were deliberately lit.
On a related note, WND (considered wild-eyed by many, which is probably true, by the way) had a serie of articles over the years about jihadis claiming to be willing to use forest fires as terror weapons against the USA; also, in France, reach year, along with the usual local perps, there are "Youths" from big cities caught lighting fires in southern France (though this may be just part of their rather incredible fondness for setting stuff on fire); and, speaking of the south of France, local vegetation here is very suited to brush fires, and is incidentally very different from the vegetation found in antiquity, BECAUSE, muslim pirates used forest fires as a terror weapon a lot over the centuries IIUC, and this led to the flora adapting itself to it.
Anyone caught setting such a fire should be burned at the stake. I know that's "cruel & unusual punishment", but it fits the crime, and would even make a dyed-in-the-wool jihadi think twice.
Fireproof homes are very EXPENSIVE to build. I have the plans for one - a 2200 sq. ft., three-bedroom, two-bath home, virtually fireproof. The cost would be around $212,000. To build it out of regular materials - $126,000. It's okay until temps get over 1200 degrees F, where the internal components would burst into flames - drapes, furniture, books, papers, rugs, etc.
I've got a couple of friends that live in that area. One of them is a volunteer fireman. He told me it was very hard to get out of the way of the fire, and almost impossible to stop it. Flaming embers were blowing as much as five miles ahead of the front of the fire, setting other fires. Indeed, we will pray for the safety of our friends there, and for an early containment and extinguishment of the fires there.
Posted by: Old Patriot ||
02/09/2009 17:05 Comments ||
PEARL HARBOR_ The Navy plans to try a fourth attempt tomorrow to remove the USS Port Royal, the Navy warship that ran aground Thursday. When high tide hits early tomorrow morning, tugboats will return to try to dislodge the guided missile cruiser that is stuck in 17 to 22 feet of water about a half mile off Honolulu International Aiport's reef runway.
The Navy plans to remove the ship's anchor and the chains, which will lighten the ship by about 40 tons and remove the 800-tons of sea water that is inside the hull to stabilize the ship, said Rear Adm. Joe Walsh, deputy commander of the U.S. Pacific Fleet. If none of these actions work to dislodge the ship, the Navy will consider dredging a channel behind the boat to help unloosen it.
When the Navy tried to dislodge the ship earlier this morning, it used a salvage ship, the USNS Salvor (T-ARS-52), a motor vessel the Dove and four Navy and three commercial tugboats tried to remove the ship during high tide. "Although we had more horsepower, we were unable to pull the ship free," Walsh said. "We were only able to pivot the ship about 20 degrees.
"Our priorities have been and remain the safety of the crew, the safety of the ship and the safety of the environment. There have been no injuries associated with the grounding or our recovery efforts."
The larger tugboats and tow vessels used this morning provided more pulling power to nudge the 9,600 ton, 567-foot-long ship off the sandy and rocky bottom, but that wasn't enough. This morning the Navy began their redoubled effort at 1:30 a.m., but the ship remained aground after four hours of towing. The Navy's assessing its options on how to proceed.
The Navy is investigating the cause of the grounding and would not discuss any details of their investigation. The cost of removing the ship has not been determined yet, Walsh said.
Previous attempts on Friday and Saturday morning to refloat the ship were unsuccessful. Prior to yesterday's attempt, the Navy planned to remove fuel from the ship, but heaving seas prevented that from happening as the barge and ship were roiling into each other.
The ship's hull is structurally sound and there has not been any fuel leaks or spills. "We are working closely with both the U.S. Coast Guard and the state of Hawai'i to ensure all precautions are being taken should a release of fuel occur," Walsh said. "If we're unsuccessful tomorrow morning, we'll further lighten the ship."
Posted by: Steve White ||
02/09/2009 00:00 ||
Top|| File under:
The Navy plans to remove the ship's anchor and the chains, which will lighten the ship by about 40 tons and remove the 800-tons of sea water that is inside the hull to stabilize the ship,
I thought keeping the pumps running would have been standard procedure?
PEARL HARBOR, Hawaii (AP) The Navy on Monday freed the $1 billion guided missile cruiser that had been stuck for more than three days since it ran aground close to the coast of Honolulu.
The USS Port Royal was pulled off a rock and sand shoal at around 2 a.m. after crews removed about 500 tons of water and 100 tons of anchors and other equipment to lighten the vessel, the Navy said in a statement.
The removal by a salvage ship and seven tug boats took about 40 minutes.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.