Redemption Tales : Guilt and Atonement

February 21, 2012

On the Day of Atonement, a Mass is performed by Roman Catholic priests wearing Kippahs, ringing bells and waving incense, symbolically leading up to the immolating of Jesus. The participants figuratively eat the body of Christ and drink his blood. This Mass is believed to be beneficial with respect to having ones sins atoned for.

We are handed this precious gift of life. Each one of us is granted Redemption from Christ: murderers, rapists, and molesters, all of us, including hedge fund fat cats. All we have to do is repent and God takes us into His kingdom. The time has come for us to be worthy of His love.

The walk on the road to salvation might have already begun: Right now.

However, as churches and cathedrals are left empty, the masses have reassembled in courthouses and tribunals. The priests have been replaced by attorneys, judges and solicitors. This transposition has one similitude: Sins. And they are as despicable as they would if viewed in a religious stance.

In October 2009, Raj Rajaratnam, self-made billionaire and hedge fund manager and founder of the Galleon Group, was arrested by the FBI on allegations of insider trading.

After his arrest: Road to Redemption. In January 2010, Rajaratnam’s returned all funds to each and every one of his investors, with profit.

As an ethnic Sri Lankan Tamil, he has also contributed $3.5 million to the Tamils Rehabilitation Organization (TRO), a group allegedly connected to the Tamil Tigers (LTTE) which is proscribed as a terrorist organization. TRO‘s offices were raided by the FBI in 2006 but the organization was never charged with any wrongdoing.

The “Billion Dollar Raja” was eventually found guilty on all 14 counts of conspiracy and securities fraud. As it was the largest hedge fund insider trading case in United States history, it resulted in the ruling of the longest prison sentence ever handed out for insider trading. He was then sentenced to 11 years in prison and fined with a civil penalty of $93 million in November 2011.

In December 2008, Bernard Lawrence “Bernie” Madoff, an American businessman, stockbroker and investment advisor, confessed to his family that his firm was a massive Ponzi scheme. The following day, FBI agents arrested Madoff and charged him with one count of securities fraud. He was at the time worth up to $830 million.

While on house arrest: Road to Redemption. Madoff and his wife both attempted suicide by ingesting a cocktail of prescription medication after his fraud was exposed.

In March 2009, Madoff, former non-executive chairman of the NASDAQ stock market, admitted to have orchestrated a Ponzi scheme since the 70s. It is considered to be the largest financial fraud in U.S. history. The amount missing from client accounts was almost $65 billion but the court-appointed trustee estimated actual losses to investors of $18 billion.

After pleading guilty to 11 federal felonies, “Winky Dink” was sentenced to 150 years in prison, the maximum allowed.

The main question remains; why adopt a Ponzi scheme when failure is bound to be its absolute “fortune”? I mean this fraudulent investment operation pays returns to its investors from their own money or the money paid by subsequent investors.

It is destined to collapse because the earnings are ALWAYS less than the payments to investors.

One could say that in the 20s, Charles Ponzi did leave us a damaging legacy, but yet again, greed could be embedded in human nature. In his defense, despite popular notion, Ponzi did not create that system. Charles Dickens’ novel, “Little Dorrit”, described such a scheme.

The ones that take expiation seriously and wish to get as far as possible from the Babel Tower(s) might want to convert and embrace their new Mennonite identities. After all, the Amish are known for simple living and unwillingness to adopt modern technology.

But wait, the proliferation of greed spares no one. In September 2011, Monroe Beachy, an Amish man, who began raising money in the 90s, assured investors they were earning funds from safe US government securities.

He was charged with mail fraud after allegedly defrauding thousands of people out of $17 million.

Road to Redemption: not applicable as they mostly believe that the gates of heaven are naturally open to them.

For the believers of the ” Thus always to tyrants / genius ” doctrine, the time has come to confess your sins and atone, before it is too late.

  • Goldman Sachs has cut bonuses by 20%;
  • Lloyds Banking Group has cut £2m from bonuses paid to 13 executives;
  • Citigroup has cut bonuses by about 30%;
  • Barclays is cutting back on bonuses by 32% and will be capped at $100000 for its investment bankers;
  • Royal Bank of Scotland is cutting bonuses to the “absolute legal minimum” by more than 90%t to £175million. The bank had to be bailed out by the taxpayer to the tune of £20billion;
  • Merrill Lynch has cut bonuses by 40%;

The walk on the road to salvation has already begun …take a number.

Old pirates, yes, they rob I;
Sold I to the merchant ships,
Minutes after they took I
From the bottomless pit.
But my hand was made strong
By the hand of the Almighty.
We forward in this generation

Won’t you help to sing
These songs of freedom?
‘Cause all I ever have:
Redemption songs,
Redemption songs.

Emancipate yourselves from mental slavery;
None but ourselves can free our minds.
Have no fear for atomic energy,
‘Cause none of them can stop the time.
How long shall they kill our prophets,
While we stand aside and look? Ooh!
Some say it’s just a part of it:
We’ve got to fulfill the Book.

Won’t you help to sing
These songs of freedom?
‘Cause all I ever have:
Redemption songs,
Redemption songs,
Redemption songs.

Emancipate yourselves from mental slavery;
None but ourselves can free our mind.
Wo! Have no fear for atomic energy,
‘Cause none of them-a can-a stop-a the time.
How long shall they kill our prophets,
While we stand aside and look?
Yes, some say it’s just a part of it:
We’ve got to fulfill the book.
Won’t you have to sing
These songs of freedom?

‘Cause all I ever had:
Redemption songs
All I ever had:
Redemption songs:
These songs of freedom,
Songs of freedom.

Redemption Song, by Robert Nesta “Bob” Marley
(produced by Chris Blackwell, from album: “Uprising”)

Copyright © 2012 Thus Always To Genius. All Rights Reserved.



4 Responses to “Redemption Tales : Guilt and Atonement”

  1. Langdon Aulger said

    Wow, not even the Amish can be trusted. What a world…

  2. Vikram said

    Very interesting souqtien, and one that will probably be discussed for years. Here are my two cents:Although it now appears that Madoff only stole $13 billion from investors, he also created the illusion that those investors had assets of over $60 billion. Based upon reliance upon the information in his investor “statements”, all sorts of commitments were made throughout the economy based upon what people thought they had. Loans were no doubt made to Madoff account holders by banks and other providers of capital based on those statements; contracts were made throughout the economy based upon Madoff investors’ fictitious financial strength. Just as a relatively small action by a central bank, such as our Federal Reserve, can cause massive economic effects (so-called multiplier effects) throughout the economy, so can the injection of false capital (essentially counterfeit money), through fictitious account statements. The overall toll of Madoff’s actions on the economy is not the just $13 billion, or even $60 billion – it is probably 10 times that. His actions have therefore contributed in no insignificant way to the financial mess we are now in, and have played a part in undermining our economic foundations. The strong sentence is not punishment for the pain he caused to his investors, but for the pain he has caused the entire country. He basically committed treason.If you look at the history of war, you will see constant attempts by the warring countries to counterfeit each other’s currencies and financial instruments. They do this because it is an incredibly powerful weapon. Of course I have to say shame on the Government for letting the situation go so far before discovering it; but having discovered it, to do anything other than make the strongest possible example out of Madoff would be irresponsible.

  3. Miki said

    Road to redemption, when every one of us will follow this road we will certainly be free, free of loving and trusting every human you met. But right now, no one can be trust, that’s a fact…There is so much darkness around us…You kill and then ask for forgivness…can’t believe that it can be that easy!!

  4. […] Redemption Tales : Guilt and Atonement ( […]

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