SEC David Becker Resigns, Got payouts from Madoff

Frankenstein Government has a great post. Here is the back story. Did he figure no one would find out about this. Is there no moral compass in the Obama administration? I bet they start dropping like flies before any hearings.

The trustee trying to recover money for victims of Bernard L. Madoff’s infamous Ponzi scheme is trying to recoup more than $1.5 million of Madoff payouts from the family of David M. Becker, the general counsel of the Securities and Exchange Commission.Washington Post

Now Frankenstein’s thoughts on the matter:

I want you to stop and think about this for a moment. The fucking SEC General Counsel was invested in Madoff’s Fund??? And Madoff went uninvestigated for 10 years???

Please tell me what IF ANYTHING, qualifies as a conflict of interest?? This guy stands to lose 1.5 million profit he got from Madoff?? Turns out that this piece of shit, served as General Counsel to the SEC from 2000-2002. He was rehired in 2009 shortly after Madoff was arrested. He would have had all of this time to publicly disclose that he inherited profits from Madoff and certainly before beginning his second tour of duty at the SEC. Even the idiots at the SEC might have run a little scared. But hell, who knows? Here is the story of the poor sap who spent 10 years trying to expose Madoff without success. Go figure.

On February 1st, a seemingly routine news report that David Becker, the SEC’s general counsel, is somewhat abruptly leaving his position to return to  unspecified “private sector” employment.

Today, the Brits break the news story on the reason:  Becker’s parents and probably him apparently made $1.5 million investing with Bernie Madoff, a small time ponzi architect (small time compared with the US government, that is), and the bankruptcy trustee is suing Becker to get it back.  Madoff was one of the SEC’s most spectacular failures.  He operated for years without the SEC doing anything about him, even after repeated and detailed reports to the agency. more: Strike Lawyer

Read the full story here at Frankenstein Government

Obama’s mystery links to Gadhafi uncovered

As the saying goes, the chickens are coming home to roost.

During the 2008 presidential campaign, Wright himself noted the trip could cause problems for Obama.

“When [Obama’s] enemies find out that in 1984 I went to Tripoli to visit [Gadhafi] with Farrakhan, a lot of his Jewish support will dry up quicker than a snowball in hell.”

Farrakhan, a close friend and associate of Wright, has been financed by Gadhafi, including with a $5 million interest-free loan in 1985.

Later that year, Gadhafi spoke by satellite to Farrakhan’s Saviour’s Day Convention in Chicago, and reportedly told Farrakhan supporters he was prepared to provide weapons to a black army in the U.S. to destroy “white America.”

In October 1995, Gadhafi reportedly called Farrakhan with congratulations on the success of the Million Man March. Gadhafi was said to have assured Farrakhan that together “we will unite our capabilities and efforts to achieve this.”

– As pressure mounts on the White House to intervene to stop Moammar Gadhafi’s bloody crackdown in Libya, many commentators have been wondering why Barack Obama has been cautious in his criticism of the dictator after the U.S. president so fervently supported the removal from office of U.S. ally Hosni Mubarak of Egypt.

But Gadhafi has been tied to Rev. Jeremiah Wright, Obama’s spiritual adviser for more than 23 years.

The Libyan dictator also has financed and strongly supported the Nation of Islam and its leader, Louis Farrakhan. Obama has ties to Farrakhan and his controversial group.
Jeremiah Wright, former pastor of Obama’s longtime Chicago church, went with Farrakhan to visit Gadhafi in 1984

More at WND

George Soros Plans New Bretton Woods Conference

Last week I said that the dispatches were grim coming from Bunkerville. I gave a summary just for that week: U.S. losing control of its finanical system
“While our attention is drawn to other matters, the march toward the merging of a world-wide financial system is almost complete”. Update from Bretton Woods conference in progress Here

Now this is the final kicker.Here is a link to George’s own words. Please read it. hereA New World Architecture written in 2009 will let you know what we are in for and his plan for this very conference this Spring. Included is a “One Currency”  He is an honest man.

“Reorganizing the world order will need to extend beyond the financial system and involve the United Nations, especially membership of the Security Council. That process needs to be initiated by the US, but China and other developing countries ought to participate as equals. They are reluctant members of the Bretton Woods institutions, which are dominated by countries that are no longer dominant. The rising powers must be present at the creation of this new system in order to ensure that they will be active supporters”.

For a list of the attendees: Logistics Monster:

You may experience the same cold shivers I experienced when you check out the advisory board for this particular think-tank including but not limited to a faculty member of the New School for Social Research (remember those folks promoting seizure of your 401(k)?), and one of our favs, Drummond Pike, founder of the Tides Foundation.

The following is a great read about the earlier Conference . Read it if you have the stomach for the whole thing,:

Soros Plans New Bretton Woods Conference

A monetary conference sponsored by the Institute for New Economic Thinking – a nonprofit founded in 2009 with a $50 million pledge from oligarch George Soros – will be held April 8-11 at the Mount Washington Hotel in Bretton Woods.

Bretton Woods is, of course, the location of a monetary conference that was held following World War II. Lew Rockwell explained what went down at that conference:

Keynes’s message at Bretton Woods, [as the great economist Ludwig von Mises summarized it], was that the world elites could turn stones into bread. And so under the influence of Keynes, the target at the Bretton Woods meeting was liberalism itself, which was widely assumed to have failed during the Great Depression. The elites also came out of World War II with a more profound appreciation for the role of central planning. They had reveled in it.

The core problem of the world monetary system after World War II was essentially that the gold standard had broken down, or rather, government had destroyed what remained of the old-fashioned gold standard through relentless inflation, debt, and devaluation. Economists in the Keynesian tradition had encouraged this, viewing money creation as some sort of panacea for all that ailed the world economy.

Keynes, the maestro of the Bretton Woods Conference, had recommended this and celebrated the results. To him, a flexible and standardless currency was the key to macroeconomic manipulation of his beloved aggregates. In a perverse way, he was right about this. A government on the gold standard is seriously constrained. It can’t take a sledgehammer to aggregate supply and aggregate demand. It can’t spend beyond its means. It must pay for the programs it creates through taxation, which means having to curb the appetite for welfare and warfare. There can be no such thing as a Keynesian state on the gold standard, any more then a cocaine addict or compulsive gambler can be on a strict budget.

As was the fashion, world elites assembled to plan some gigantic coordinated solution. They met from July 1 to July 22, 1944, at the Mount Washington Hotel in Bretton Woods, New Hampshire, and drafted the Articles of Agreement. It was nearly a year and a half later, in December 1945, that the agreement was ratified. On March 1947, one of the monstrosities created during event, the International Monetary Fund, began operations.[The World Bank was also created at Bretton Woods-RW]

What was the goal of the plan? It was the same goal as at the founding of the Federal Reserve and the same goal that has guided every monetary plan in modern history. The stated idea was to promote economic growth, encourage macroeconomic stability, and, most absurdly, tame inflation. Of course, it did none of these things. Full story here: Economic Policy Journal

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