CNBC: Charlie Gasparino on Madoff $50B Ponzi Scheme

Save US taxpayers years of agony waiting for answers - The true answers may be found on Warning America's site.

capital punishment for Madoff!

Flash: Clinton Treasury Sec. Robert Rubin defrauded Citibank of more than $122 billion, also described "Ponzi scheme," but new lawsuit gets NO airplay, because of Obama connection, whose 'new economic team' is called "Robert Rubin Memorial All Stars," per London Times: Timothy Geithner, Treasury Secretary; Lawrence Summers, Senior Economic Adviser. Their history: Tearing down the regulatory walls between banks/ brokerages/insurance companies to trade in unregulated derivatives worth trillions.

high concept......when a thief steals money from other thieves,,,,,IS THERE A CRIME,,,,,,frankly who cares??? fox saturday morning has yet to talk about this, nothing on brenda butthole's show and nothing on cavuto yet,,,WHAT'S UP WITH FOX BUSINESS NEWS???? do they have a madoff blackout?

When this is all done, I wouldn't be surprise if the entire Wall Street Stock Market is a fraud.. People sitting at a set of computers are manipulating the stocks at will..

You watch.. This whole monetary system is going to collapse.. Its all a fraud!

The Stock Market itself is a fraud..

Oh my GOD! I can sense a storm is coming, and its going to leave devastation, all over planet earth.. I think we are in big trouble everybody.. Something evil comes our way.. God Bless you all!

His quick confession in regards to the ponzi-scheme suggest he is covering the tracks of others involved..

A man of this stature would never roll over on himself, unless he was protecting his family.. Its more than likely the help he is protecting is a huge name.. Possibly a huge firm.. Someone outside of his firm, knew about the scheme.. The interesting part is they say its on $50 Billion.. I bet its at least 3x as much.. A successful Ponzi scheme like this can't be alone.There are more

We need to bring back public hanging for guys like this.

Listen to GASSBAGARINO calling into to question the SEC. Tomorrow he will be screaming about how there is too much regulation.

Not to mention Madoff has been on the scene for 20 years and nobody at CNBC ever thought to report on the unrealistic returns this guy was providing? Isn't that the job of the "FREE" press? Isn't that why self-proclaimed great journalists like GASBAGARINO believes that there is no need for government regulation? Because journalists will expose it?

Do your job CNBC.

No, not the people, they are the rituals we lived with. How was God defined? How is money defined? Economy is our activities. What kind of life you want to live? What kind of life you have to make? Check the real records of our traditions and find out what we had defined? How do we trust fairness before we define processes? Open system or close system which allows fairness? Build non-profit infrastructure for openess, and set small limits for its credit card. This is Internet age, folks.

How can money physically disappear?
I think cash is not good for investment as well as for livings.
How come everyone of us takes cash as wage or salary?
Why don't people take contribution to government secured funds and assets from employers as income? If that the public can always used independence firms to closely audit organizations for their own sakes. Nobody needs to print more money. Cash is just for casual usages.

Never trust a guy with an eye twitch like Madoff. Sure sign of deception.

Wow. I know someone who has worked at this company for 10 years. We're both stunned. Madoff is/was, like the story says, very generous. Especially around the holidays. My prayers tonight are for the good people I've gotten to know at Madoff.

what stupidity LEVARAGE he has no idea what he is talking about Moronic

The Auto Bailout story has killed this for today. But I see this going nuts in the next couple of weeks. This IS a big deal. I work in Finance the email announcements were already hitting the office concerning those funds and clients who were exposed to him. This is wild stuff....

No. The reason for the discrepancy is that the amount of funds that Madoff reported to the SEC was a fraction of the amount of funds reported to his investors. In other words, the "missing" $33 Billion was fake money in the form of fake return on investment. If any bank had let him borrow, they most certainly would have asked for either more collateral or more cash long before now.

hey! the FBI is interested fraud in the financial sector, wonder what brought that on?