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Is There a Real Difference Between Obama and Bernie Madoff?

What did Bernie do? He ran vast Ponzi Scheme, and then ran off with the money and left his clients with their accounts worthless. What does Obama want to do? He wants to convert the money set aside for Medicare into a fund to pay for his Healthcare scheme to benefit his ACORN friends and other very poor people. This would transform Medicare into a vast Failed Ponzi Scheme in which money has been collected from people all their working lives, and now it is stolen at the last minute by Obama who runs off with it, so the Medicare beneficiaries are left with their accounts worthless. It's conversion of funds on a vast scale. It's larceny by trick and device. And it will be very harmful. The Medicare beneficiaries who are about to retire -- reaching age 65, after working at least 40 quarters, and paying into FICA their whole working lives, are going to need end of life care -- nursing homes, hospitals, etc -- the kind of thing that Medicare beneficiaries have been able to count on since the 1960's. Now comes Obama, the socialist, who wants to spread the wealth around, to his ACORN henchmen, and other street people and community organizers. How does he even get a hearing in the House or Senate? Why isn't his health scheme considered so outrageous, preposterous, and obviously dishonorable as to be dead on arrival on Capitol Hill? Besides the stealing issue, and the breach of promise (nobody will ever trust the government again if Obama gets his way), there's also a huge negative wealth effect created. If Medicare is not going to be there for the Baby Boomers, they are going to have to save a lot more. That means not spending. Economy is weak now. Obama-Care will kill it utterly. Nobody will spend a dime. The Medicare insurance program was supposed to allow people to get old without worrying about their medical care or paying for it. Medicare is insurance against being old, sick, and unable to pay. Like most insurance it provided a huge societal benefit. It gave people freedom to live without worry. Take it away -- like in the Obama scheme -- people will have to self-insure. They will do it with annuities, with TIPS, with other forms of dead-money no-risk investments, maybe gold, maybe land, whatever. Anyhow that cash won't be around to sustain a vibrant retail sector economy. Forget it. The ACORN people will get what they got in the USSR, in Chad, in Albania, in North Korea, in all the places where their "spread the wealth around" (quoting Joe Biden) ideas have been tried. Obama is the first President in the history of the USA to become a "Lame Duck" in less than 6 months. Talk about blowing an opportunity, with both houses of the Congress, and 60 votes in the Senate, Wow, that's some accomplishment. The TARP was theft, The TALF was theft, the Stimulus did not work at all, and the Health scheme is theft -- Bernie Madoff style theft! Three strikes, you're out pal! Is it not likely that any politician on any side of the isle who supports Obama in mugging the Medicare beneficiaries will be signing their own "Pink Slip" from the Congress. People over 65 will soon figure out they have been robbed. About 100% of them vote. This is not a small robbery -- this is Madoff style clean out your account robbery. Yes, there will a lot of people gone out of the Congress. Touched the "Third Rail" of American politics. Didn't mean to. Didn't think that's what they were doing. It's not what Nancy Pelosi told them. Too soon gone, too late smart. Messing with the Medicare is a real bad idea. Any fraud, waste, or abuse money found should go right back into the Trust Fund. When the cops catch bank robbers, the bags of money go back to the bank. They don't go to the local mayor or to ACORN for community improvement projects. Medicare is for the Medicare beneficiaries. Touch that "Third Rail" and you are GONE! Ta, Ta, so long, it's been good to know ya. Happy trails

Public Comments

1. I think they're all just a big sham, and while Bernie is behind bars, the SEC and FED officials are still at large. Both are clearly guilty of dereliction and negligence. But, what is the point of keeping Madoff in prison? He represents no threat. Rather than pay $40,000 per year to keep him locked up, I think he should be forced to do community service work. He should be the next head of the Federal Reserve after Ben Bernanke’s term expires in December. With Madoff in the big office, there would be no longer any illusions about what sort of bank the Fed is running. But everyone knows by now they don't represent the people anymore.
2. Inaccurate assumptions and hypothesis. I think this rant is better than some fiction stories I've recently read though.
3. Yeah Obama is aiding those that supported him like ACORN, GE Immelt & NBC Zucker . ACORN gets millions via 200+ organizations under the umbrella of ACORN soon to be called Community Organization International all ACORN money gets funnelled through CCI in a former funeral home in LA Obama paying back GE Immelt by appointing him to some position & GE in return is given Mrs Dashcle a seat on some board. Also GE will get billions if the Cap & trade goes through.
4. Good grief~! I never thought of this that way but you are right Those fountain pen bandits are everywhere Even in high places like the President of the United States
5. The only diffrence is Bernie ran a criminal enterprise and got caught. Nice job on your additional details.
6. One word - POWER. Next question?
7. Madoff made money disappear, Obama is putting it back into our economy. I only read the title of your question.