BERNIE
MADOFF
|
SOCIAL
SECURITY
|
Takes money from investors
with the promise that the money will be invested and made available to
them later.
|
Takes money from wage
earners with the promise that the money will be invested in a "Trust Fund"
(Lock Box) and made available later.
|
Instead of investing the
money Madoff spends it on nice homes in the Hamptons and
yachts.
|
Instead of depositing money
in a Trust Fund the politicians transfer it to the General Revenue
Fund and use it for general spending and vote buying.
|
When the time comes to pay
the investors back Madoff simply uses some of the new funds from newer
investors to pay back the older investors.
|
When benefits for older
investors become due the politicians pay them with money taken from
younger and newer wage earners to pay the older
investors.
|
When Madoff's scheme is
discovered all hell breaks loose. New investors won't give him any
more cash.
|
When Social Security runs
out of money the politicians try to force the taxpayers to send them some
more; or they cancel S/S to all those who paid into
it.
|
Bernie Madoff is in
jail.
|
Politicians remain in Washington
.. with fat medical and retirement
benefits.
|
May 2004 June 2004 July 2004 August 2004 October 2004 November 2004 December 2004 May 2005 March 2006 April 2006 May 2006 June 2006 July 2006 September 2008 October 2008 January 2009 February 2009 March 2009 April 2009 June 2009 July 2009 August 2009 September 2009 October 2009 November 2009 December 2009 January 2010 February 2010 April 2010 May 2010 June 2010 August 2010 November 2010 February 2011 March 2011 April 2011 June 2011 July 2011 August 2011 May 2012 July 2012 August 2012 September 2012 October 2012 November 2012 March 2013 September 2013 October 2013 December 2013 January 2014 February 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 February 2015 March 2015 April 2015 June 2015 July 2015 December 2015 May 2016 August 2016 September 2016 November 2016 December 2016 October 2017 October 2018 April 2019 May 2019 November 2019
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