AlterNet: Madoff's Shocking Scheme Is Just a Microcosm of a Much Bigger Disaster

[marmar]

Madoff's Shocking Scheme Is Just a Microcosm of a Much Bigger Disaster

By Maura Stephens, AlterNet. Posted December 29, 2008.

All of Wall Street has been engaging in crimes and swindles like Madoff's against the American people, and the rest of the world, for decades.



We've been hearing a chorus of "Nail him," "Let him rot," "String him by the ..." And the chorus will just grow louder as we learn of more and more victims of Bernard Madoff's corruption and arrogance.

It started with the bass, sung by the megamillionaires suddenly left with bills they can't afford to pay: mortgages on mansions and pièds à terre, a yacht or two, stablesful of Lamborghinis and tuition for their kids' exclusive private schools.

Then we heard from the baritone section, the well-paid employees of said multimillionaires' companies. At the holiday season, they're keeping themselves busy by spending hours and days in line at the unemployment office.

Tenor is sung by the staff and directors of foundations that give away money to worthy causes, including bone marrow transplants, interfaith outreach programs, higher education, health care services for the elderly and disabled, medical research, religious freedom advocacy, criminal justice reform, fighting poverty.

And they're joined by the sopranos -- all the supporters of Jewish philanthropies (safe to say that's probably at least 40 percent of the nation's Jews, plus non-Jewish supporters of good deeds done by Jewish groups) and the other nonprofits that went under when Bernard Madoff broke their banks and their backs. .......(more)

The complete piece is at: http://www.alternet.org/workplace/115769/madoff%27s_shocking_scheme_is_just_a_microcosm_of_a_much_bigger_disaster/

[Atman]

1. The lead singers are singing a different tune

When the Morning Joes and Sunday talking heads start talking about this then I think we might make some headway. Instead, they simply accept their lyric sheet from the corporate masters and keep singing the same tired tune.