Update: Situation totally out of authorities control as new murders of Human Rights & NGO activists in Checnya: Zarema Sadullayeva and her husband were found dead after being kidnapped in the republic on Monday, August 10th. They were members of the Chechen’ Save the Generation’ charity.
Chechen H R Memorial Leader Natalya Estemirova Homage who was kidnapped and murdered as Russia’s state Human Rights terror war dominates Russia power structures as in Chechen Grozny so in MOSCOW Neo Putin’s RUSSIA UnLAW Rules as neostalinism terror SYSTEM is restored or evolved back to USSR as Human Rights champions and journalists POLITICAL MURDER spree continues. http://www.xmail.net/technologos/Anna.html REVEALS PUTIN REGIME SYSTEM’s JUSTICE FARCE as open trial on the murder of journalist Anna Politkovskaya proceeds in Moscow military court. http://www.xmail.net/technologos/AAAA.html View POLITICAL DISSIDENT GALINA STAROVOITOVA IN ST PETERSBURG who was murdered in St Petersburghttp://www.xmail.net/technologos/ASTAR.html AND SVETLANA ALLILUEV STALIN DAUGHTER ESCAPIST STORY EPITOMISES TRAGICOMEDY FATE OF RUSSIA’s WOMEN OF TALENThttp://www.xmail.net/technologos/ADS8.html Homage to ANNA POLITKOVSKAYA 2nd anniversary of her assasination in Moscow: film LETTER TO ANNA, directed by Eric Bergkraut http://www.xmail.net/technologos/ANNA.html
Financier Madoff Appeal Defiance is a living prove of Global Financial Institutes and SEC Systemic Fallacy and a testament of FED’s systematic financial fraud with Lori Richards resignation as head of the Securities and Exchange Commission office that inspects money managers and brokerages after congress grilled her for Madoff’s Ponzi scheme. View Madoff logic of risques to monetize Ponzi scheme at WS
Inspector General Kotz’s eight-month inquiry exhaustive look at how the agency missed chances since 1992 to detect a $65 billion fraud that burned thousands of investors. The inspector faulted the agency for inadequately pursuing tips, assigning inexperienced staff to conduct reviews and failing to seek trading records that would have revealed the scam Madoff undertook for decades: http://www.sec.gov/news/studies/2009/oig-509.pdf Madoff Defiance to appeal his absurd sentence to 150 years jail term for creating epic financial crime and accepts his guilt on 11 accounts but not conspiracy charge which reveals the substance of his crime deeds . PSEUDO HEDGE FUND ENTERPRISE PONSI PYRAMIDE SCHEMES OF FINANCIAL RISQUES EPITOMISES WALL STREET SYSTEMIC FALLACY.
Ex-financier Madoff statement – confession for being guilty for creating epic financial crime in the history of Wall street while rejecting only the conspiracy charge which illuminates escape conartist mindset due to cognitive psychoanalysis discovery method
Madoff statement at the NYC Court: ‘I am actually grateful for this first opportunity to publicly speak about my crimes, for which I am so deeply sorry and ashamed. As I engaged in my fraud, I knew what I was doing was wrong, indeed criminal. When I began the Ponzi scheme I believed it would end shortly and I would be able to extricate myself and my clients from the scheme. However, this proved difficult, and ultimately impossible, and as the years went by I realized that my arrest and this day would inevitably come.To the best of my recollection, my fraud began in the early 1990s. At that time, the country was in a recession and this posed a problem for investments in the securities markets. Nevertheless, I had received investment commitments from certain institutional clients and understood that those clients, like all professional investors, expected to see their investments out-perform the market. While I never promised a specific rate of return to any client, I felt compelled to satisfy my clients’ expectations, at any cost. I therefore claimed that I employed an investment strategy I had developed, called a “split strike conversion strategy,” to falsely give the appearance to clients that I had achieved the results I believed they expected.
Through the split-strike conversion strategy, I promised to clients and prospective clients that client funds would be invested in a basket of common stocks within the Standard & Poor’s 100 Index, a collection of the 100 largest publicly traded companies in terms of their market capitalization. I promised that I would select a basket of stocks that would closely mimic the price movements of the Standard & Poor’s 100 Index. I promised that I would opportunistically time these purchases and would be out of the market intermittently, investing client funds during these periods in United States Government-issued securities such as United States Treasury bills. In addition, I promised that as part of the split strike conversion strategy, I would hedge the investments I made in the basket of common stocks by using client funds to buy and sell option contracts related to those stocks, thereby limiting potential client losses caused by unpredictable changes in stock prices. In fact, I never made the investments I promised clients, who believed they were invested with me in the split strike conversion strategy.
To conceal my fraud, I misrepresented to clients, employees and others, that I purchased securities for clients in overseas markets.’
The Judgement Day
Now a jailbird Bernard Madoff has committed financial fraud worth over $ 65 Blns and prosecutors reserved the right to pursue up to $170 billion in criminal forfeiture along with the 11 prosecution’s charges against Madoff carrie a maximum sentence of 150 years
Madoff Confession: ‘In more recent years, I used yet another method to conceal my fraud. I wired money between the United States and the United Kingdom to make it appear as though there were actual securities transactions executed on behalf of my investment advisory clients. Specifically, I had money transferred from the U.S. bank account of my investment advisory business to the London bank account of Madoff Securities International Ltd., a United Kingdom corporation that was an affiliate of my business in New York. Madoff Securities International Ltd. was principally engaged in proprietary trading and was a legitimate, honestly run and operated business.
Nevertheless, to support my false claim that I purchased and sold securities for my investment advisory clients in European markets, I caused money from the bank account of my fraudulent advisory business, located here in Manhattan, to be wire transferred to the London bank account of Madoff Securities International Limited.
Technologos Financier Madoff Appeal Defiance Global & SEC Systemic Fallacy Testament
There were also times in recent years when I had money, which had originated in the New York Chase Manhattan bank account of my investment advisory business, transferred from the London bank account of Madoff Securities International Ltd. to the Bank of New York operating bank account of my firm’s legitimate proprietary and market making business. That Bank of New York account was located in New York. I did this as a way of ensuring that the expenses associated with the operation of the fraudulent investment advisory business would not be paid from the operations of the legitimate proprietary trading and market making businesses.’
TECHNOLOGOS CINEMASCAPES ON BERNI MADOFF’s PSEUDO HEDGE FUNDS ENTERPRISE AS PONZI OR QUANT MINDSET PYRAMIDE SCHEMES OF FINANCIAL RISQUES EPITOMISES WALL STREET ABSOLUTE SYSTEMIC FALLACY WHILE SEC AS FINANCES WATCHDOG IS EVIDENTLY IRRELEVANT. Madoff fraud exposes the SEC’s void of supervising the fund or even being directly IMPLICATED in the conartist scheme by covering it as it never examined his investment advisory business as $50 Blns fraud deal.
Technologos envisions creating an economic science institution to define a new financial order taking ni account cognitive insights of mental and psycho processes where information technology construct intelligent finance models infrastructure global topology and new financial theory of global monitoring framework analising phony market ideologies fallacies http://www.xmail.net/technologos/ALAN2.html View NOBEL PRIZE ECONOMY WINNERS WEBCINEMA AS ANTIDOTE http://www.xmail.net/technologos/ANASH.html and http://www.xmail.net/technologos/ALAN1. Greenspan legacy of financial meltdown with his acceptance of conceptual flaw in the financial monitoring system : The Fed Can’t Become Overseer of Financial Stability http://www.xmail.net/technologos/ALAN.html
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