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Archive for March 14th, 2009

Prosecutors target assets of Madoff’s wife

Federal prosecutors in New York and the US Securities and Exchange Commission (SEC) are preparing to file a legal action against Ruth Madoff, wife of jailed fraudster Bernie, amid fears that she will try to flee the United States or move her $70m fortune beyond their reach.

Department of Justice sources told the Observer that prosecutors were “working around the clock” to build a criminal complaint against Mrs Madoff in an effort to ask a judge to freeze her bank accounts, which they believe are filled with the proceeds of her husband’s crimes.

The SEC, America’s top financial regulator, is understood to be liaising with the US Attorney’s Office for the Southern District of New York to help prepare the asset freezing order.

“What will happen,” one SEC source said, “is that the US attorneys will be in court in the next week or so to tell a judge that they believe Mrs Madoff’s assets are derived from ill-gotten gains and that they should be frozen for a certain period of time while the investigation is ongoing.”

The judge will then decide whether there is sufficient reason to believe Mrs Madoff’s assets were the proceeds of her husband’s $64bn Ponzi scheme.

After Madoff confessed his crimes to the FBI on 11 December, the Department of Justice moved quickly to file a criminal complaint against him while the SEC issued an order to freeze his assets. SEC sources indicated that Mrs Madoff would soon experience something similar.

MORE HERE

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by Geezer Power


Mr. Obama mentions “The Department of Agriculture will close a loophole to prevent diseased cows from entering the food supply And, the government will invest in the FDA to substantially increase the number of food inspectors and modernize food safety labs”. He also mentions “Americans can trust that there is a strong system in place to ensure that the medications we give our children will help them get better, not make them sick; and that a family dinner won’t end in a trip to the doctor’s office”. Also worthy of mention is “In 2006, it was contaminated spinach. In 2008, it was salmonella in peppers and possibly tomatoes. And just this year, bad peanut products led to hundreds of illnesses and cost nine people their lives”.

In keeping with the open and transparent objectives of our new administration, “Change We Can Believe In”, we would be remiss if we didn’t question the viability of the large agricultural corportions and their detrimental effects on our food supply. The use of genetically engineered crops, the use of hormones in animal food supplies, along with the use of antibiotics is reaching proportions that will effectively put the worlds food supply in peril. Recent legislation that is now before congress will stifle any efforts to promote natural and organic methods of food production.

For you senior readers, out there on the tubes, you probably remember that the government promoted the Victory Garden” to help the war effort. We didn’t have any genes, hormones, or herbicides, at that time and home gardens produced one third of the food for the country at that time. I might mention that water didn’t cost much in those days, and was pretty much taken for granted, like…if you were thirsty you drank from the garden hose.

Keep in mind folks, that HR875, which if passed means that organic gardening methods and crops will be controlled by the Food Police. This legislation, now before congress, heavily influenced by lobbyists from huge food producers is so broad based that technically someone with a little backyard garden could get fined and have their property siezed.

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