Modern History Project

"A little learning is a
dangerous thing"

"Bernard Madoff was not some sort of weird outsider...but rather a key developer of the modern system of electronic trading and a chairman of NASDAQ. Madoff often was called upon to help write the rules on financial regulation and therefore became quite expert at subverting them... At the very time back in 1999 when the SEC was being formally warned that a Madoff scam was under way, Madoff was consulting with then-SEC Chairman Arthur Levitt Jr. on regulatory matters... When Levitt worked for Clinton as head of the SEC, he teamed up with Alan Greenspan, Robert Rubin and Lawrence Summers to destroy what remained of financial service industry regulation..."

-- Robert Scheer article

The author fails to mention the fact that Madoff, Levitt, Greenspan, Rubin and Summers are all members of the Jewish financier syndicate. One member of the club (like Geithner or Bernanke) is appointed to "oversee" the others, while the fraud continues and the money disappears at places like AIG (Hank Greenberg), Goldman Sachs (Lloyd Blankfein), Lehman Brothers (Richard Fuld), Cerberus Capital (Ezra Merkin), and a host of others.

The Madoff scam is merely the tip of a rotten iceberg. After all, somebody has to pay for the lavish lifestyles of these Park Avenue parasites. It might as well be you.

"Steve Schwarzman...the billionaire chairman of the Blackstone Group invited 500 people to the Armory on Park Avenue for a party that cost an estimated $3 million. A very long list of notables turned up -- Donald Trump, Barbara Walters, Barry Diller, Lloyd Blankfein, Jamie Dimon -- as did many of the [other] people who have now become poster boys for the global financial crisis, like former Merrill Lynch CEO Stan O'Neal, and ex-Bear Stearns chief Jimmy Cayne."

-- City File article

A decade ago, Greenspan, Rubin, and Summers were featured on the cover of Time magazine as the "Committee to Save the World" by club propagandists Gerald Levin (publisher) and Norman Pearlstine (editor). But what did they save, and for whom?

"A lawsuit [filed in December] against Clinton Treasury Secretary Robert Rubin for defrauding Citibank shareholders of more than $122 billion, also described as a "Ponzi scheme," got no airplay whatsoever... Rubin didn't get the same publicity* as Madoff because of his close connection to Barack Obama. Robert Rubin's son Jamie was Obama's main Wall Street fundraiser and is now one of his principal advisers. More significant, Obama's economic team consists of Rubin's [Jewish] proteges including Timothy Geithner, Treasury Secretary; Lawrence Summers, Senior Economic Adviser; and Peter Orszag, Budget Director... Madoff's $50 billion scam is described as the largest in history. But it pales in comparison with what Robert Rubin and his ilk have done to the world."

-- Henry Makow article

After leaving the Clinton administration, Rubin became a fellow at the club alma mater, Harvard University, and Summers became the school's "first Jewish president". They had their eye on law school alumnus Barry Obama.

"Michael Froman [also Jewish] was Chief of Staff to Robert Rubin at Treasury before following Rubin to his reward at Citigroup. Most significantly, it was Froman who first introduced Rubin to his Harvard classmate Barack Obama... [He] is now Obama's Deputy National Security Adviser for International Economic Affairs."

-- Andrew Cockburn article

Nearly all of these players, apart from Madoff, are also members of the New York Council on Foreign Relations. Robert Rubin became the CFR chairman in 2007.

The Madoff story would never have gotten the tremendous media coverage that it has except for the fact that he violated the club rules and burned a lot of his brother Jews, which is just not acceptable. According to their long-standing tradition, only the "strangers" are fair targets for obtaining such blessed possessions:

"Unto a stranger thou mayest lend upon usury [charge interest]; but unto thy brother thou shalt not lend upon usury: that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it." -- Deuteronomy 23:20

Many of Madoff's billionaire clients were fellow members of the exclusive (Jewish) Palm Beach Country Club, whose own greed was exceeded only by their arrogance. They have suddenly gone from gloating over their unearned "gains" to howling about their losses.

"People in Palm Beach sort themselves out into the group in which they belong based largely on how much money they have. Even the poorest of the islanders seem to have everything yet joy proves elusive, even for the country club members, because there is always someone richer or better socially connected...

Those with the biggest financial gains generally had their money managed by Madoff. It was an honor having him handle your fortune. He didn't take just anybody. He turned down all kinds of people, and that made you want to give the man even more of your money. When he took your fortune, he told you that he would tell you nothing about how he achieved his returns. He was a god. He had the Midas touch."

-- Laurence Leamer article

UPDATE: In Dec 2009, club member Benjamin Shalom Bernanke was also featured on the cover of Time magazine as "Man of the Year".