Wall St. Fraud: And We Bailed Out THIS?!

In the biggest fraud scandal ever to hit Wall Street, billions of dollars simply vanished into thin air as a hedge fund 'ponzi' scheme duped some major investors into pouring their millions into a false haven set up by Bernard Madoff.

At least some of Wall Street's woes can be traced to the scheme, the result of which was a loss of upwards of $50 billion dollars.

Madoff's investors included some of the biggest heavy-weights in the world of investments, which of course means that everything from universities, endowments, and foundations were negatively effected.

Even foreign entities are reeling from the losses they sustained in the scheme.

And the tax-payers helped bail THIS out?

It is true enough that bailout money did not go directly to the Madoff firm. But our tax money most assuredly DID go to entities that were duped into investing in what amounted to nothing.

Either way, we were screwed, and there is not much we can do about it.

And to those who still support a government bailout of the auto industry, just go ahead and drop 'em, bend over, and grab 'em. You are willingly submitting to yet another reaming.