Sunday, October 25, 2009

Who murdered Picower?

We know that Jeffrey Picower has a scandalous past.  And we also know that when Madoff went bust, Picower quietly and very quickly closed the Picower Foundation.

Too some it was too quickly.  Back in February ABC News thought that Picower and Levy were the funnels for Madoff's billions.

But then we found out that Picower had taken $5.1 billion over and above his investment. Now that figure has increased upwards by another two billion to $7.2 billion. Here were some of his annual withdrawals.

1995 3 $50,240,000
1996 84 $390,751,188
1997 68 $420,959,554
1998 59 $506,065,516
1999 57 $590,835,236
2000 61 $658,061,313
2001 64 $821,000,950
2002 52 $922,221,107
2003 52 $1,025,301,463
2004 44 $480,151,300
2005 40 $468,316,059
2006 37 $165,025,910
2007 35 $216,450,976
2008 14 $30,685,976

670 wires out of Madoff, averaging $100 million each, and no bank has any culpability? $6.746 billion wired out? And all we have on Picower is a lawsuit from the Fed's?

He dies today in a swimming pool. 81 minutes after the 911 call, he was pronounced dead.

Somebody wanted to keep him quiet.

Because we heard, that last week, for the sake of expediency, his lawyers were trying to work out a settlement to put these issues behind him.

And that reminds me of this old joke. But instead of $3 million, it's $6 billion!

The Godfather, accompanied by his accountant, walks into a room to meet with his underboss. The Godfather asks the underboss, "where's the three million bucks you embezzled from me?" The underboss doesn't answer. The Godfather asks again, "where's the three million bucks you embezzled from me?"

The accountant interrupts, "sir, the man is a deaf-mute and cannot understand you, but I can interpret for you."

The Godfather says, "well, ask him where the @#!* money is." The accountant, using sign language, asks the underboss where the three million dollars is. The underboss signs back, "I don't know what you're talking about." The accountant interprets to the Godfather, " He doesn't know what you're talking about "

The Godfather pulls out a pistol, puts it to the temple of the underboss, cocks the trigger and says, "Ask him again where the @#!* money is!"

The accountant signs to the underboss, "He wants to know where it is!" The underboss signs back, "Okay! Okay! The money's hidden in a suitcase behind the shed in my backyard!" The Godfather says, "Well, what did he say?"

The accountant interprets to the Godfather, "He says that you don't have the guts to pull the trigger."

This time, they used the swimming pool.  (It's the middle house.)

And his foundation, had an unusual way of pricing stocks. On December  26, 2000, on the day after Christmas, they bought 60,003 shares of AIG at $2.41. (page 27). That was a neat trick--the stock was 25X the price.

It's easy to make money, when you make up prices!
Picower Foundation -- 2006 Tax Return                                                                                                                                                       


Anonymous said...

I have a feeling more people are going to turn up dead!

Anonymous said...

Palomni , would you SHORT NITE right now? what do you think about the dark pool think it will pass? some say NITE could be in big trouble?

Palmoni said...

I wouldn't short it.

Stay out of that pool!

Anonymous said...

thanks! said...

20160407 junda
louboutin pas cher
coach outlet
oakley sunglasses,oakley sunglass,cheap oakley sunglasses,oakley sunglasses cheap,oakley sunglasses outlet,oakley store,oakley outlet,oakley outlet store,oakley sunglasses sale,oakley sunglasses discount
coach factory outlet
air jordans
converse all star
asics shoes
cheap uggs
michael kors outlet online
gucci borse
ray ban sunglasses outlet
christian louboutin uk
rolex watches
reebok shoes
rolex submariner
christian louboutin outlet
michael kors outlet
ralph lauren outlet
michael kors outlet
christian louboutin
michael kors outlet
nike air max shoes
armani exchange
converse shoes
michael kors outlet clearance
coach factory outlet
cheap oakley sunglasses
lacoste outlet
ray ban sunglass,ray ban sunglasses,ray ban outlet,cheap ray bans,cheap ray ban sunglasses,cheap ray bans,ray bans
new balance outlet
mizuno running shoes
levis jeans
ray bans
ray bans

xumeiqing said...

20160511 chenxin
michael kors canada
burberry outlet stores
yeezy boost 350
fitflops outlet
reebok classic
skechers outlet
ray ban sunglasses outlet
cheap ray-ban sunglasses outlet
true religion jeans
true religion outlet
michael kors outlet
ray ban outlet
chi flat iron
adidas shoes
cheap jordans
coach outlet online
armani exchange
louis vuitton handbags
dior sunglasses 2016
nike air max 90
under armour
cheap ray bans
fake oakleys
nmd adidas
michael kors outlet online
michael kors outlet online
toms shoes
cheap nfl jerseys
ray ban sunglasses
hermes belt
christian louboutin shoes
fitflops shoes