Death of Bernard Madoff: how the pioneer of finance became “the crook of the century”

FRAUD – Bernie Madoff died aged 82 in North Carolina Penitentiary where he was serving 150 years in prison. Back on the biggest financial scam of the century which caused its downfall.

“I leave shame as a legacy for my family and my grandchildren.” In June 2009, on the last day of his trial, Bernie Madoff had split the armor, admitting to having inflicted “a lot of pain and suffering” around him. Shame and sorrow, certainly, but also abysmal losses which have earned him the nickname of “crook of the century “.

This figure of New York finance, died this Wednesday at the age of 82 in the North Carolina penitentiary where he was serving a 150-year prison sentence, will remain as the author of the biggest financial scam in history. Coming from a modest Jewish family in Queens, Bernard Madoff founded a brokerage company while he was still at the university, at the end of the 1950s. Over the years, he manages to build a double image of pioneer of finance and establishment personality.

High net worth clients and institutions trapped

It took the 2008 financial crisis to expose the scandal. Suddenly, Bernie Madoff found himself faced with multiple requests for massive withdrawals, while deposits became scarce. His system then collapsed, like a house of cards. Many financial institutions and high net worth clients found themselves trapped, including American actor Kevin Bacon, writer Elie Wiesel or director Steven Spielberg, who lost several million dollars. Some of his victims know a dramatic end: Thierry de la Villehuchet, French financier based in New York and who had placed at Bernie Madoff about 1.4 billion dollars of clients such as Liliane Bettencourt, committed suicide in his office in Manhattan end of December 2008.

The Madoff system? Pyramid fraud, “like Ponzi“. Its principle: to draw from the deposits of its new clients to remunerate or reimburse older investors. Having become a figure on Wall Street, he offered, in addition to brokerage services (sale and purchase of securities on behalf of clients ), an investment vehicle that quickly became a success.

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  • United States: Bernard Madoff is dead

A growing number of institutional investors but also high net worth individuals have entrusted it with billions of dollars in management, seduced by the promise of a high and above all stable return, in a world of finance that is by definition unpredictable. The sums claimed by investors who took legal action after the scandal broke reached more than $ 17 billion. Including the profits touted by Bernie Madoff, which turned out to be virtual, the losses amount to $ 65 billion.

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United States: shocking video of Daunte Wright’s death

The young man is said to have died following an “accidental” shooting.

Through Writing with agencies

Lhen being checked for offending license plates, an officer “pulled out her firearm in place of her Taser,” an electric pulse pistol believed to be less lethal than a firearm, the police said. local police chief Tim Gannon, citing an “accidental” death.

To support his remarks, he presented the recording of the drama by the policewoman’s camera-pedestrian.

On Monday evening, the judicial authorities of the State of Minnesota transmitted the identity of the policewoman involved in a press release. Kimberly Potter, an employee of the Brooklyn Center Police Department for 26 years, has been administratively suspended, the statement said.

In these images, officers are seen removing the young man from his vehicle and handcuffing him. The latter then opposes resistance and sits down in his car. The policewoman can be heard shouting “Taser, Taser” to signal that she is going to shoot. Instead, a gunshot echoes.

“Fucking shit, I shot him,” the policewoman said as the mortally wounded young man started behind the wheel of his car, which crashed a few blocks away.

Please note, the video contains images which may be shocking.

It is not clear how the officer mistook his weapon for his Taser. The local police chief said the police are trained to place the handguns “on our dominant side, and the Taser on our weak side”.

President Joe Biden called the murder “tragic,” but warned of any potential violent unrest. “I think we have to wait and see what the investigation shows,” Biden said.

In the middle of the George Floyd trial

This drama rekindled anger in Minneapolis, which had known several nights of riots after the death of George Floyd, on May 25, under the knee of white policeman Derek Chauvin.

In this tense climate, Derek Chauvin’s lawyer had asked to put the jurors aside to prevent them from being pressured. “I understand that there is civil unrest”, but “I do not believe that this is a cause for further concern”, replied Judge Peter Cahill.

Some 260 people have been killed by police since the start of the year, the powerful civil rights association Aclu said.

In the video, the policewoman can be heard shouting “I will tase you” – “I am going to use my taser”, as she grabs her service weapon and points it at the young man. Then follows an exclamation from the officer: “I just shot him” – “I just shot him”.


USA: Shots at Tennessee high school – suspect shot

Panorama USA

Shots at high school in Tennessee – suspect shot

Several people were hit by bullets in a gun attack at a school in Knoxville, Tennessee

Several people were hit by bullets in a gun attack at a school in Knoxville, Tennessee

Source: via REUTERS

In an exchange of fire in a school in Knoxville, Tennessee, a student was killed by a police bullet on Monday. In addition, a police officer was injured.

IIn a school in the US state of Tennessee, according to the authorities, a student shot at police officers and was killed by them. The officers were alerted about a possible shooter at the Austin-East Magnet High School in Knoxville, said the chief of the state criminal investigation office, David Rausch, on Monday. The police placed the student in a toilet and asked to come out. However, he opened fire, whereupon the officers shot back.

The student reportedly died at school. An injured officer had to undergo an operation. According to the police, there were no other dead or injured. The building was said to have been secured. Mayor Indya Kincannon said she spoke to the injured officer. He was conscious and in good spirits.

The police warned the population to stay away from the school building. Families could meet students on a baseball field behind the school, she said. The media showed numerous police and rescue vehicles at the crime scene.

School councilor Bob Thomas said unaffected students had been turned over to their families. The authorities were gathering information about the “tragic situation” and would later release more information.

Several serious incidents involving gun violence since mid-March

The United States is repeatedly rocked by deadly gun attacks in schools. At Columbine High School in Littleton, two teenagers shot and killed twelve classmates and a teacher in 1999. They then committed suicide.

There have been several serious incidents involving gun violence in the United States since mid-March. Eight people were killed in massage parlors in the greater Atlanta area. Ten people were shot dead in a supermarket in Boulder, Colorado. Four people, including a nine-year-old, were killed in an office building in Orange, California. In a factory in Texas last week, an employee shot and killed a man and injured six others before he was arrested.

US President Joe Biden last week called gun violence in the United States a “plague” and “eyesore” for the country and called for stricter gun controls.


a dead man and an injured policeman

“Several gunshot victims have been reported including an agent,” in Austin-East Magnet High School, police tweeted just before 4:00 p.m. local time (10:00 p.m. HB), inviting residents of this city of 180,000 southerners of the country to avoid the area.

Police now confirm that one person was killed and that an officer was taken to hospital with gunshot wounds. His days are not in danger. “There are no other known victims,” ​​local police said, quoted by local media.

A site for families to reunite has been opened in a baseball stadium adjacent to the high school, authorities said.

The school welcomes more than 640 children from precarious backgrounds as part of a federal financial assistance program. The infrastructure was secured and the students were able to reunite with their families, a school official said, quoted by CNN.

School shootings have been a recurring scourge in the United States since the massacre in Columbine, Colorado, in April 1999.

Denouncing an “epidemic”, President Joe Biden last week unveiled targeted measures to limit the proliferation of firearms in the United States.


gunned student shot dead by police in Tennessee high school

Published on :

An armed high school student opened fire after police intervened at his Knoxville, Tennessee facility on Monday before being shot. A police officer was injured during the intervention but is expected to recover.

Police in Knoxville, Tennessee, on Monday, April 12, shot dead a high school student after he opened fire on officers at a school, injuring one of them.

The incident, which took place around 3:15 p.m. local time at the Austin-East Magnet school, adds to the list of mass shootings that have taken place across the United States since mid-March.

Knoxville Police say the gunshot officer is expected to survive his wounds. He was shot in the leg.

Police traveled to Austin-East after being informed that a gunman was in the facility. The suspect was located in a bathroom, where the shooting occurred.


“When the officers entered, the suspect opened fire, they said, and injured an officer,” said director of the Tennessee Bureau of Investigation David Rausch. “The suspect was pronounced dead at the scene and has since been identified as a student from Austin-East,” he added during an overnight press conference.

The police had initially mentioned “several victims by bullets” during the incident.

In the aftermath of the shooting, the establishment was placed in confinement, while the parents having rushed to the scene had been instructed to recover their children near an annex exit. The police subsequently set up a site for parents and their children to reunite.

Numerous armed incidents

Four other Austin-East students have been killed this year, according to local press, as the high school has witnessed numerous armed incidents in recent months.

Several mass shootings have taken place in the United States since mid-March. Last week, a man opened fire at the factory where he worked in Texas, killing one and injuring six others before being taken into custody.

Eight people were killed in Atlanta-area spas, 10 people were killed in a supermarket in Boulder, Colo., And four people, including a 9-year-old boy, at a real estate agency in Orange, Calif.

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Minnesota riots over police brutality that potentially killed black man | NOW

Unrest arose in the US state of Minnesota on Sunday, because a black man may have been killed by police violence. That happened in Brooklyn Center, a suburb of Minneapolis about 10 miles from where black American George Floyd was killed by agent Derek Chauvin last year.

According to CNN Twenty-year-old Daunte Wright was pulled over with his car on Sunday due to a traffic violation. Subsequently, officers determined that an arrest warrant had been issued against him.

When the police tried to arrest him, Wright got back into his car and tried to drive away. An officer shot him with this. The man was able to drive a little longer, until he hit another vehicle and came to a stop. When emergency services arrived, he was found to have died.

It is not yet clear whether he died from the police bullet, from the accident or from the combination. The officers were wearing bodycams, but those images have not yet been investigated.

Protest against police brutality

A group of about a hundred people then confronted the police. The angry mob destroyed several police cars. An eyewitness reports that police cars have been pelted with stones.

Images of people jumping on the roof and hood of the cars are shared on social media.

The police fired rubber bullets. At least two people were hit, one of them bleeding. Several hundred people also reported to the police station in Brooklyn Center. Police used tear gas there to disperse the crowd.

Tensions in Minnesota for some time

Tensions in Minnesota have risen sharply in recent weeks due to the lawsuit against Chauvin. Floyd was arrested in Minneapolis on May 25 last year for allegedly paying for a pack of cigarettes with a counterfeit $ 20 note.

During the arrest, Chauvin pressed his knee against the victim’s neck for minutes. Floyd subsequently passed out and died.

His death sparked outrage worldwide. There was massive demonstration against racism and excessive violence both inside and outside the United States.

Correction: An earlier version of this post stated that Wright had died as a result of the police action. However, this is not yet entirely clear: American media contradict each other in this. As soon as there is a definite answer, we will of course report this.


Trump wants to help Republicans regain seats in midterm elections | NOW

Former US President Donald Trump has told Republican Party backers that he will help secure seats in Congress in the 2022 midterm elections. Republican sponsors gathered Saturday for a dinner at Trump’s exclusive club Mar-a-Lago in Florida.

“We met tonight to talk about the future of the Republican Party and what we need to do to make our candidates win,” Trump said, according to news agency. Reuters, that has seen the speech of the former president. “I am here tonight with complete confidence that in 2022 we will take back the House and reclaim the Senate. And in 2024, a Republican candidate will conquer the White House.”

Whether Trump meant himself by that last sentence remained unclear. He said earlier that he could not rule out his running for president again. Last year, Trump lost the election to Joe Biden. Within the Republican Party there are more candidates who want to take on Biden in 3.5 years, such as former foreign minister Mike Pompeo and Florida Governor Ron DeSantis.

Before that, the 435 members of the House of Representatives will be elected in November 2022. In addition, 34 of the 100 members of the Senate will be elected.

Particularly for the Democrats, who now have a slight preponderance over the Republicans in both chambers, much is at stake. If they lose, it will be difficult for Biden to implement his policy.


President Biden wants to ban private possession of assault weapons | NOW

US President Joe Biden said on Thursday that he wants to ban the private possession of assault weapons. He says there has been “plenty of prayers” and it is time to actively tackle gun violence in the United States.

Several major shootings have taken place in the country in recent weeks. The US president listed the recent shootings in Colorado, Georgia and South Carolina and spoke of an international disgrace. “This is an epidemic that must end.”

So-called ghost rifles should also be banned, according to Biden. These are weapons that people buy online and assemble themselves, for example. As a result, these weapons cannot be traced by the government. Support brackets that turn a pistol into an assault rifle must also be registered under the gun law.

According to Biden and Justice Minister Merrick Garland, these are the first steps to prevent major shootings and suicides. The measures announced on Thursday must first see the president guide through Congress. The Ministry of Justice will draw up several legislative proposals for this in the coming months.

When American politicians advocate stricter gun control rules, they often face opposition. According to the Second Amendment to the United States Constitution, Americans have the right to own a weapon, and that amendment is often used as an argument by lobby groups.

Attempts by the US government to limit gun ownership are often fought to the highest level in court. However, according to Biden, the new proposals are in line with the US Constitution. “And there is a broad consensus that something needs to be done now.”

An investigation of Reuters showed last year that most Americans support tougher gun laws. According to the Gun Violence Archive, which maintains data on gun violence, there is an average daily shooting in the United States that shoots more than four people.


Is it a lost generation for the United States for not attending the Tokyo Olympics?

The failure of the United States in its most recent attempt to qualify for the Olympic men’s soccer tournament is not new, but in addition to the disappointment of the elimination against Honduras in the pre-Olympic tournament in Guadalajara, it left a poorly planned process that, it is assumed, would lead to their senior team to have the best team in many years for the World Cup in Qatar 2022 and, mainly, that of 2026, in which they will be organizers together with Mexico and Canada.

The defeat of the United States means that they will miss their third Olympic Games in a row, since since the Olympics in 2008, and now they have not been able to qualify for four of the last five editions.

Unlike the women’s team, which will represent the United States in Tokyo and with high hopes of winning its fifth gold medal, the men’s team maintains the tendency to look down on this tournament.

The men’s Olympic tournament has been restricted to players under 23 years of age since 1992, but for the United States it seems not to be a priority, especially at a time when its young players are attracting attention in the main leagues in Europe as rarely has happened.

The United States federation bet on Jason Kreis, an MLS veteran, who tried to make the most of the talent produced by the league’s recent investments in player development.

The explanation for the elimination seems simple, but it is not far from being a bad management of its resources. The holders of the United States who played the pre-Olympic are from MLS teams, since their best players did not attend because they were in Europe, such as Christian Pulisic, Weston McKennie, Sergiño Dest and Gio Reyna, because their clubs were not obliged to yield them.

Although the failure is notorious, the circumstances played against him, and even so, the United States has enough material to dream, although part of the process of the young people could affect having to compete at forced marches in a grueling tie and summer tournaments that will outline the definitive team for Qatar 2022.

It is common to read and hear about the number of young players the senior team coached by Gregg Berhalter, who is 8-0-1 in his last nine games, will have at his disposal.

The conditions for the US pre-Olympic were many, not being able to count on the Europeans and bet on MLS players who had not played a competitive match in months.

But hope does not diminish in the United States, although the generation will lose the opportunity to test themselves in the Olympics, the reality is that they will bet on the senior tournaments, and that can be an advantage.

Elimination, in fact, can be a major team rebuilding opportunity. The Olympic Games would have demanded too much in logistics, with travel, quarantines and other conditions to play a tournament in distant lands.

There is no way it is considered a lost generation. The Olympic medal is not the challenge the United States needs. It was only a test, an option to prepare, to blanket the team in a competitive and demanding tournament, but its real goal must be the next two World Cups.

But the talent headed by Pulisic, Reyna, Dest and Mckennie will be there, available to Berhalter, without the need to send them to Tokyo and wait for them to function as the biggest representative.

All Europeans will have the advantage of avoiding the Tokyo Olympic tournament, which takes place just before the 2021-2022 season begins, that will allow them to do their preseason and reduce the load of matches.

Nations League, Gold Cup and the World Cup qualifier will be played in the fall. The gamble may turn out better for the United States, not having to deal with European clubs to have their best players at the Olympics. Thus, the best generation can skip the challenge of Tokyo 2020 and focus better on Qatar 2022 and then 2026.