Why was the Madoff Ponzi scheme never detected ?

Smart people new that something was wrong with the trading system of Bernie Madoff.

Smart people thought that he was front running trades. Front running trades is illegal. Some people think that front running is a victimless crime. The smart people did not want to dig or investigate very deeply into the Madoff operations because they were afraid of exposing the front running activities and they were profiting from what they thought was easy money.

The problem was that the smart people thought that they were profiting from the illegal front running trades and not a Ponzi scheme.

Limousine Democrats Love Inflation

Limousine Democrats love inflation and wasteful government spending.

Limousine Democrats borrow large amounts of money, with fixed interest rates for investments in commercial real estate, homes, and cars, then they advocate wasteful spending in the government that creates high inflation, so that they can payback their loans with cheaper dollars. Wasteful spending is the fastest method for creating high inflation plus they can feel good by claiming that they are helping the poor.

The problem is that handouts create dependency.

Retired people, on fixed income, are hurt in the long term by the Limousine Democratic spending programs, like Cash for Clunkers, with very little return for the taxpayers. The Department of Transportation reported that at the end of the program Toyota accounted for 19.4 % of sales, Honda with 13.0 %, and Nissan with 8.7%. Meanwhile, Japan's own program excluded U.S. cars.

National Science Foundation - Priority One

I would immediately increase the funding at the National Science Foundation.

Google began in March 1996 as a research project by Larry Page and Sergey Brin, Ph.D. students at Stanford. They were working on the Stanford Digital Library Project (SDLP). The SDLP's goal was “to develop the enabling technologies for a single, integrated and universal digital library." and was funded through the National Science Foundation.

10,000 dollars per cell in Iraq - - - - - 140,000 dollars per cell in Illinois

The Corps of Engineers awarded a $40 million contract to global construction and engineering firm Parsons Corp. to design and build a prison for 3,600 inmates, along with educational and vocational facilities.

http://news.yahoo.com/s/ap/20100829/ap_on_bi_ge/ml_iraq_us_reconstruction_legacy


The Obama administration has asked Congress to approve about $350 million to buy and renovate an empty prison in Thomson, Illinois. The Bureau of Prisons would then be able to use the facility to house up to 2,600 federal inmates.

http://www.securitylawbrief.com/main/2010/05/white-house-still-plans-to-buy-illinois-prison.html

http://www.prairie-advocate-news.com/8-4-10/thomsonprison8_4_10.html

I will grant you that the costs in Iraq and Illinois are different but not by a magnitude of 14 times. Obviously the reason projects were never completed in Iraq stemmed from insufficient money in the budget.

National Security

I believe in developing, implementing, and promoting, policies that ensures a strong, technologically superior industrial base.

I believe that Internet security is a major serious concern for the United States.

Money is like heroin.

My objective is to win, based on the principles of fairness and hard work, without taking campaign money. Once a person takes money then they become tainted. Money is like heroin. A person should be able to convey their messages, with the Internet, for free, with blogs.

Independent Republican Thinkers

H.Con.Res. 248, a resolution that will require the House of Representatives to debate whether to continue the war in Afghanistan. So far there are 3 Republican co-sponsors: Ron Paul (R-TX); Walter Jones, Jr. (R-NC); and Timothy Johnson (R-IL).

I guess there are independent Republican thinkers who understand that the United States does not have enough time or money to change everyone’s view on this planet that America is a great country of opportunity.

Sudden Acceleration

Complaints of sudden acceleration surfaced, in the public arena, around the early 1980's. At Purdue, in the 1970's, I studied the issue. All materials degrade over time, because of expansion and contraction, due to temperature changes, including computer silicon chips. Engineers design products based on warranty periods. I guess some people expect a product to last a million years.

In 2003, the largest known judgment on sudden acceleration was ordered against General Motors. An injured woman and her husband claimed sudden acceleration in their 1993 Oldsmobile Cutlass resulted in a crash, and a Missouri jury agreed, awarding the woman and her husband $80 million.

Congress is currently having hearings about sudden acceleration. I guess a licensed engineer, who understands the complex issues before Congress, is not needed in Congress.

Thank you.

I would like to thank everyone for their vote on February 2, 2010.

There are many complex issues facing this country.

Many of the solutions have unintended consequences.

Market tops are created when everyone believes the direction is higher.

How do you convince people of the contrary ?

I believe that the people who voted for me understood my solutions.

No pain no gain. Everyone wanted an easy, "Happy Talk" solution.

Candidate Statement

The next United States Congressman from the 10th Congressional District should be an independent and thoughtful thinker, who understands the complex technical issues, and who can make the hard decisions, that will benefit the greater good, and not just help the special interest groups. We do not need someone who just rubber stamps the party positions. The person should understand the unintended consequences of their decisions. I am a life time resident of Lake Forest, and understand the issues of the North Shore. I am a consensus builder and I have found that empowered people make good decisions. I have my Bachelor of Science in Electrical Engineering from Purdue University. I have 30 years of electrical engineering design experience, in the private sector, plus I have the experience of actively trading commodities and options for the past 30 years. I believe that you are either part of the solution or part of the problem and that I try to work on constructive ideas and not destructive ideas. I am a licensed electrical engineer in Illinois and Wisconsin. I would like to be the second licensed engineer in the United States Congress. One of the characteristics of an engineer is that they change one variable and look for a different outcome. The innovator and the politician have the same dilemma. The task is finding the equilibrium between costs and the requests, of the customers or the constituents. I believe that the principle of cost benefit analysis is an important factor, in legislative decisions, when there are limited resources. I believe that actions speak louder than words. People should lead by example. I am a registered energy professional in Chicago and will bring my environmental experiences with me to the United States Congress. Honesty is very important for me. I will always fight for honest data. I must have valid numbers and strong research. I hate soft numbers without back up data. I was the Energy Star Building Project Director, for a fortune 50 company, and watched people twist the technical data to justify many green projects. If I spend 20,000 dollars then I want to save 20,000 dollars.

One problem is that China is making decisions on fundamental science and not making investments that have questionable savings, so their costs, of doing business, are lower. Solar panels have been manufactured for the past 50 years. The advances in solar technology have been very slow.

My solution involves moving money allocated for environmental programs, to the budget of the National Science Foundation. Currently they are only funding 12 percent of the dollars requested, from engineering professors, at leading United States universities. I believe that research spending is an important part of our future, for long term growth, and prosperity. I am a problem solver dedicated to helping the people of the 10th Congressional District.

I am for TERM LIMITS in CONGRESS.

2 TERMS for SENATE. (12 Years)

6 TERMS for HOUSE. (12 Years)

I believe the legislation could be passed by allowing the current members to be grandfathered and not subjected to the limit.