
Ideological Memoirs
February 20, 2025 at 09:36 AM
*Part2 Bernie Madoff: Died The Most Hated Man In The West*
-If you spent a US$1 000 a day, it would take you 2 740 years to spend a Billion dollars-
*Compounding Reflection*
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Now back to the US$65 Billion heist. Here's What can be said about state media's role or should be role. State media is meant to put into Zimbabwean context the effects of global events, and give context to local events. Which currently state media plays the role of respondent to alternative media or the commercial perspective, and so too was in 2008. Here's What You Needed to know:
*The Bernie Madoff Scandal*
Arrested December 11 of 2008, Bernie Madoff was later sentenced to 150 years in prison. Here's how his operation worked: Madoff at first promised his clients consistent returns, regardless of market conditions. He claimed to use a complex investment strategy involving "blue-chip stocks and options contracts". Only later this came out to have just been use of skillful language or jargon, since he was just taking money from new investors to pay returns to earlier investors.
In short that is the innerworkings of the Bernie Madoff financial fraud. Now the fallout came from the fact that some of the world's largest financial institutions and organizations, governments and individuals had been led into believing in the jargon, and investing broadly with Bernie Madoff Investment Securities LLC. This then resulting on top of the already was underway global economic crisis, that the Lehman Brothers Saga had only 3 months prior, set into motion.
*The Link Between the Saga and the Scandal*
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The Lehman Brothers Saga had devastated the stock market globally, leading to catastrophic losses, which in turn led to many of the affected, in particular those thousands of clients, that were later to be revealed victims in the Bernie Madoff Scandal, to begin tapping into their emergency funds, and such as what Bernie Madoff had promised them. Major Global Banks like HSBC, Goldman Sachs, JP Morgan Chase, and the likes, were some of the directly affected by both the Lehman Brothers Saga and the Madoff Scandal.
Going back to the assertion behind this essay of: *We are deliberately exposed to a certain kind of information, and also deprived a certain kind of information, all so to shape our perception of ourselves, the people around us, the happenings and the world.* Note that this assertion is a double edged sword, in the matters of whom is responsible for exposing and depriving you and i information.
For we were told of Susan Markowitz, said that this widowed 61 year old pensioner's story of losing her entire life's savings, and inheritance from her late husband, was amongst the most touching of all. Where's if you and i, those whom through no direct input of our own, had been affected by the congruent effects of both the Lehman Brothers Saga and the Madoff Scandal, our story never was told, because we knew not that we had a story to tell in that cloud of events.
The Western citizens told their story, and amongst that Susan Markowitz's story came out as the most touching. What about the Zimbabwean whom lost his job and his money turned worthless as part of effects incurred indirectly due to their Bank or the company that they worked for, were invested either in the Saga and the Scandal, or Banks and Institutions that were. Your story never was told, because you knew not that we had a story to tell there. We'd been heavily informed on Robert Mugabe and ZANU-PF's role in the crisis, spurred on against our government.
*Conclusion*
In closing i highlight that it must be noted that in South Africa, the ominously stated "Wasted Years" which are attributed to Jacob Zuma are the main story of the 2008 till 2017 economic drag, that which was or had been in trend with the overall global economic drag.
For countries as those in the West i.e. the USA, Barack Obama's administration, they had the privilege of the 2008 financial crisis being contextualized, and in response they reassessed and reconfigured their policies to meet the policy needs to heal from the 2008 crisis, and put in place policy safeguards for future crises of similar nature.
So our civic duty is to need to know, to want to know, and do so with a hunger for context. Our media outlets and information platforms, especially the ones that are state run, it is for them to cater for that need for context, and in that collective cycle, would be achieved an informed society. An informed society is spared from a politicized response to crises, however inspired to a policy based response, where stakeholders deliberate policies over matters of regalia.
Bernie Madoff died the most hated man in the West, because along with the Lehman Brothers whom went on to maintain low profiles, they took the blame for a systematic failure. They took one for the team.
Thank you for reading!

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