GMAC's Ezra Merkin, $1.8B Madoff loser, now implicated as conduit in Swiss Bank losses.

Ezra Merkin, right, GMAC chairman, president of Ascot Fund which funneled $1.8 billion to Madoff, is now named by a private Swiss bank, Union Bancaire Privee, as a conduit between themselves and Madoff. The bank, UBP pictured in the inset. Merkin is shown in 2006 photo with Ariel Sharon, left, and Ehud Olmert, center. photo by AP, inset by Reuters. via wsj.com (GMAC just received a multi-billion dollar US taxpayer grant or 'bailout.')

• People the world over seem compelled to give this man Merkin their last dime. No matter what.

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