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Rachel Maddow: American Market Is Currently ‘Totally Rigged In Favor Of The Crooks’

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Rachel Maddow opened her economy update segment last night with some good news: The job growth “bikini graph” has turned into a “Loch Ness monster graph” with incoming April job numbers! What she means is that the number of available jobs is, finally, growing. Despite that, however, Maddow was concerned for the US economy, because its behavior has been so volatile and its players so unregulated that it’s starting to become an undesirable market for foreign investors to work in.

Citing Thursday afternoon’s “flash crash,” the Bernie Madoff Ponzi scheme, and the Goldman Sachs scandal as examples, Maddow argued that, if she were a foreign investor, she wouldn’t have too much faith in the American system right now:

“When you think about it, why would anybody want to invest with us if we have (a) unpredictable, inexplicable, giant, not-found-in-nature flash crashes, like we did yesterday, and (b) if government regulators are so underpowered that something like, say, the Bernie Madoff thing went on for years undetected by them? or (c) how about a financial system with giant players like Goldman Sachs allegedly selling products to their consumers– selling products to their customers– that were designed to fail?”

She concluded that the takeaway message from the American economy at the moment is that “the system is totally rigged in favor of the crooks, and you’ll get fleeced.”

Video below:

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  • SteveMG

    If that was even remotely true, foreign companies would never invest in such a rigged scheme.

    But, of course, they do. By the trillions of dollars.

    Ms. Maddow sometimes is uncommonly silly.

  • badr

    Typical hope and changer with no idea of how markets work. How’s the Euro or Nikkei working out for him, I mean her?

  • felixw

    Now Rachel Maddow shows her “genius” as a financial reporter. Maybe her next investigative scoop can look at a big Ponzi scheme run by the Social Security Administration. If Goldman Sachs ran pension money the way the U.S. government handles social security funds, then they would be able to put the whole GS management team in prison.

  • Teabagger

    This dumb dyke is nowhere near the bullshit artiest that Beck is.

    Give up on the news you amateur muff diver! This is the big leagues!

    We didn’t ask for the lesbo point of view so please don’t tell.

  • http://www.facebook.com/people/Bill-Adkins/1585417987 Bill Adkins

    YOu may regard Social Security as a ‘big Ponzi scheme.’ But the BIGGEST Ponzi scheme is Wall street.

  • http://gordonbloyershow.com gordonbloyershow

    I wonder how Rache liked all the lesbian jokes on SNL last night? Rache is rigged to lie for Obama and the democrats. There is no Bill Adkins. He is a mental patient that thinks he is Napoleon.

  • MichelleF

    Hey Rachel, I saw this and thought of you:
    A recent study concluded that far left socialists have low levels of economic knowledge.

    According to Zeljka Buturovic and Dan Klein, people who self-identify as “progressive” have low levels of economic knowledge whereas those who self-identify as “libertarian” or “very conservative” rank very highly.

  • SteveMG

    Note re foreign investment:
    The United States is the world’s largest recipient of foreign direct investment (FDI). More than $325.3 billion in FDI flowed into the United States in 2008, which is a 37 percent increase from 2007. The $2.1 trillion stock of FDI in the United States at the end of 2008 is the equivalent of approximately 16 percent of U.S. gross domestic product (GDP).

    Again, foreigners have invested more than $2 trillion in our market. Or had by 2008 (the latest numbers I could find).

    For Ms. Maddow to state that the markets are “totally rigged in favor of the crooks” is both indefensible and incorrect.

    Sure there are some dishonest people in Wall Street. Just as there are on cable news channels.

  • badr

    I don’t think she’s being dishonest, she’s just stupid.

  • Tex

    If you think Madoff ran a huge scam, Amway has ripped off millions of people for several decades, to the tune of 10s of billions of dollars.

    Read about it on this website: http://thenetprofitgroup.yolasite.com and forward the information to everyone you know, so they don’t get scammed.

    Amway is a scam, and here’s why: Amway pays out as little money as they can get away with, so they support the higher level IBOs ripping off their downline via the tool scam.

    As a result, about 99% of IBOs operate at a net loss, while the top 1% make several TIMES more from their Amway tool scam than from the Amway products. This was made illegal in the UK in 2008, but our FTC is unable to pull their heads out of their butts to stop it here.

  • zombietimeshare

    “the system is totally rigged in favor of the crooks, and you’ll get fleeced.” Same can be said of the three branches government—if by fleeced you mean screwed.

  • http://www.facebook.com/people/Mark-Tito/1592112269 Mark Tito

    Rachel you are a criminal and and your reporting is so FALSE…Here is the TRUTH of the FAKE job report…Please if ur gonna be on TV, at least know something about what you are saying::

    Friday’s release of April’s job report was basically a lie to give false hope to the American people on hopes of a jobs recovery..
    Let’s examine; Non-farm payroll jobs were reported to have increased by 290,000 jobs last month….which is nonsense…
    Of that 290,000, 188,000 were made up, fictitious make believe, guesstimate phantom jobs called CES Birth/Death Adjustment…It’s a guess on new jobs created by small businesses for thr month..These are not counted jobs, they are estimated..Another 66,000 were temporary census jobs…Another 26,000 jobs were temp jobs with temp services…So the number was pure bogus, pure hogwash…The admitted unemployment rate rose to 9.9%, from 9.7%…Unemployment remains a serious problem in the U.S…The net zero jobs growth in April comes in 150,000 of what is needed just to keep up with the population growth…..

  • JoseyWales

    I think a question the media should be asking is: “Where did the EU come up with $1 trillion?” I think one answer might be found in that mystery “glitch” last Thursday that resulted in a 1000 pt drop in the Dow and a mysterious $1 trillion loss in market value.

    It’s not too conspiratorial to deduce that world governments realizing the need to come up with cash quick would turn to the markets to move wealth from stocks to currencies. What better way to do it than through a mysterious “glitch” attributed to everything from a trader’s fat finger to quirky computer trading programs?

    It’s unfortunate we have a media which seems to act more as a PR firm for the government than as an independent investigative group focused on bringing for truth.

  • cherryst

    Nice enough person, I suppose. However, what “real” job has Ms. Maddow ever excelled. (“Air America”…see ya; viewership for current her show: lagging so far behind the leader, that even if she “cumes” or “grosses” the audience of her original and encores, her show does not outdeliver the leading network). I doubt her Docorate of Philosophy, allows her to be “the expert” she, at times, purports to be in such a wide variety of subjects. Employed in broadcasting for 30 years, I can attest that one can easily spin any story to his or her’s advantage. It takes more than just reading “talking points” or the research her producers dig up. Ten years in “broadcasting”, for Mis Maddow: be grateful.
    And, with all that is occurring in other realms of the country, is “E Street” such an important story?
    At least she’s not as “nasty” as her lead-in, although, I feel, he is a bit more engaged and informed in many issues.
    And just to be fair: (ideology aside), Matthews and O’Donnell, they’ve “been there, done that”, and I can learn something from them, something I don’t feel from O’Reilly, e.g..

  • cherryst

    Did I type “E” Street…perhaps “Bruce” and the boys were on my mind…or perhaps I lose concentration when that segment contiunes to appear. Of course, I meant “C” Street

  • http://www.facebook.com/people/Bob-Rochelle/1851883607 Bob Rochelle

    Rachel**************************

    You are THE best, second only to your predecessor, Keith Olbermann ! !

    Keep up the GREAT work ! ! !

  • JoseyWales

    Rachel,

    You and the rest of MSNBC, particularly Olbermann and Mathhews, need to become less Barrack Obama sycophanst and more critical thinkers.

  • http://www.facebook.com/people/Bob-Rochelle/1851883607 Bob Rochelle

    You, JOSEY, just might be, as Keith would say:: “The Worst Person In The World !”
    Get real, and get with the program.

  • http://www.facebook.com/people/Kirk-Matoushek/1741920556 Kirk Matoushek

    Rachel Fannie mac was designed to fail. While Wall street has payed back their bailouts with interest fannie and freddie are asking for billions more from the 53 per cent of us that pay taxes. A little more coverage on these entities whose foray into the supprime mortgage market caused the biggest economic meltdown since the great depression would be apprecciated. I invest in the stock market and don’t need you, Oberman or John Stewart running interference for me.

  • http://www.facebook.com/people/Kevin-Bennett/1307911101 Kevin Bennett

    I give Maddow credit for doing more research than some other MSNBC personalities. That said she is no more of a reporter than Sean Hannity. They are both openly biased with an agenda. And Ms. Maddow, too much regulation will thwart forgein investment. Thank God O’Reilly knows a little something about being a journalist. Yeah, O’Reilly…he might be a Republican but if you think he pushes the right my guess is you do not watch.

  • http://www.facebook.com/people/Bob-Rochelle/1851883607 Bob Rochelle


    KIRK ! ! ! ! !

    EASY…………………….Do NOT WATCH ! ! ! …………………………..DUH ! ! !

    You certainly crack me up ! !

    LMFAO ! !

  • JoseyWales

    Bob Rochelle,

    Worst Person? What, for pointing out a pro-Obama bias? I used to enjoy watching Olbermann, Mathhews and Maddow lambaste Bush for being and idiot. But there’s a noticeable lack of criticality towards Obama’s numerous failings and broken promises. Noticeable silence when Obama break his promise on offshore oil drilling only a week before what may turn out to be America’s worst offshore oil drilling disaster. Noticeable silence when he broke his promise on the Single Payer Health Care. Noticeable silence when he marched into Langley and cooed the CIA reassuring them they won’t be held accountable for their transgressions. Noticeable silence on Obama’s duplicity in this bail out of Wall Street at the expense of Main Street,

    You Mr Rochelle, you sir need to seek medical attention for what is clearly a terminal case of rectal-cranial inversion.

  • writer

    Rachel, does entering the country illegally count as being ‘crooked’?

  • http://www.facebook.com/people/Jesse-Karkula/100000807456727 Jesse Karkula

    Why is Rachel Maddow even trending #1 right now At yahoo?

  • tsearight

    There’s no doubt in my mind that what Goldman did was wrong and that major financial reform is nesssessary. What they did and what similiar institutions will damage and cripple our economy and way of life……betting against home ownership while defraudng others is incomprehensible. What a terrible example to my Youth Investors who believe that investing in Entrepreneurship and Public Companies helps America and its growth….So they sold their Goldman Sachs stock…….

    http://www.tonysearight.zoomshare.com
    Searight Investments, Education, & Entertainment For Youth

  • htticker

    What a bunch of BS , I think this persons IQ must be in the negative #’s What a waste of time I will never get back

  • onthelegalside

    Way to go big oil! Anyone with half a brain knew we shouldn’t be drilling in any waters! But once again greed took over. Now look at the mess! And today what is the big shots doing? Pointing their fingers at each other, when they should be trying to figure out how to plug this leak. And not with garbage either! There has been plenty of garbage already from the oil companies already! Maybe the oil company need to hire Steven Hawkins to try and figure this one out!

  • youcantmakethisup

    Rachel is generally correct. Wall St. has been “captured” by the interests of those who they have been designated to regulate. The Madoff and Stanford cases show without any doubt, that at best the regulators were asleep, and at worst, compromised. The elimination of the uptick rule in our markets a few years ago, made our markets UNNECESSARILY VULNERABLE to abusive short selling. Note: I am in favor of LEGAL short selling -where stocks are located, borrowed, sold and delivered. But it is common practice to ignore these “rules”, and use abusive shorting to overwhelm demand and drive prices lower. Regulators – where are you?

    For more info take a trip to http://www.deepcapture.com…..there‘s some VERY interesting pieces there

    However, where Rachel may need some “help” is assuming that other markets are any better -Human greed doesn’t require a passport and it’s not clear to me that other markets are any better- but if someone has some insight on that topic, I’d gladly move my money out this “den-of-thieves” and into a safer place

  • Sunnyr

    What a joke. This silly woman refuses to admit that HER beloved TOTUS is in bed with Goldman-Sachs and has taken more money from Wall Street than George Bush ever dreamed of. This idiot needs a reality check.

  • JamesA1102

    Ms. Maddow sometimes is uncommonly silly.
    Rache is rigged to lie
    Now Rachel Maddow shows her “genius” as a financial reporter.
    Hey Rachel, I saw this and thought of you:
    A recent study concluded that far left socialists have low levels of economic knowledge.

    Can any of you factually refute anything that Maddow said? Or are you just more interested in throwing out insults?

  • felixw

    Hard to refute Rachel when she present so few facts herself. She claims that the US stock market is controlled by crooks, but if I judge by the recent government charges against Goldman Sachs, the worst they could muster was some piddly complaint about the caveats in the documentation relating to the issue of a single derivative instrument. Honestly, Maddow is the one who needs to come up with some facts before launching into her typical tirade of insults and personal attacks. If she think the financial markets in the US are crooked, she should present some persuasive evidence.

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