#Madoff taps Political expert networks:Its Legal!

To: Peter Madoff
From: Your Brother

I told you that a firm with a stupid name like "Surge Trading" wouldn't have a chance in hell in the brokerage business, even if it could figure out to use the "FR" software that those kids made for us. I told you this two years ago, right here on this blog, when Picard cut that no-cash-up-front deal to sell everything on 19. 

Peter, as far as I'm concerned, you still own 1% of everything that I create. Irv's going to claw back the software, and all of the office furniture now that those guys from Spurge did a "dine and dash" Their problem was they didn't know how to cook the steak they found in our freezer, and Irv's problem is having to explain to everyone why he struck such a stupid deal in the first place. Christ, what with all of the strike outs that he's had in the last week, he's batting worse than that f**king Rodriquez kid on the Yankees!

Anyway, get in touch with J.K., and have one of his people reach out to Picard and make a deal for the software that those guys at "Splurge" never even opened.

We're going to open an exchange to trade Internet tax credits. That's right, Internet tax credits. We're going to call it the "its" exchange. We got a guy in here that works with those people at Gerson Lehrman and he's telling me that Washington is finally going to push through a new Bill with a bunch of taxes on internet usage. They're going to sneak it for an approval vote on Monday, while everyone in the technology industry is still out giving eulogies about Steve Jobs!

I'll send you a few pages of the Bill next week, but in the meantime, all you need to know is that just about everyone is going to have to pay a tax for using the internet in the US. Anybody that sends an email, including a tax on anybody from outside the US that sends an email to someone inside the US, and anyone that uses the Internet to merely access an online account is going to be taxed a few pennies for every use. Well, not everybody; schools will be exempt. So will charities.

Anyway, if there's a tax, there's going to be tax credits, and when you think of the number of people being taxed, and the frequency of each tax payment, the market for trading tax credits is going to be 1000x bigger than any other trading market in the world. Probably 10,000x bigger! Those trades will need to brokered, executed and processed. At the very least, we're talking about tens of millions in processing fees, not to mention mark-ups! And, if we put in a program like BNY has in their FX department, we can make tens of millions more every month!

Pete, we're talking steady returns, month after month, year after year! F**k the bullsh*t 2% returns on 10-year USTs! This is what everyone is saying, including Fred's people! My idea is going to better than the last deal we ran! Call up that son-in-law of your's and tell him we need to talk.
Bernie