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Old 02-07-2009, 10:39 PM
 
5,273 posts, read 11,925,150 times
Reputation: 5750

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Here is yet another typical example of a corrupt CEO (and a few of his cronies) enriching themselves thru gross mismanagement and out & out fleecing people of their money.

Sunwest's ex-CEO is highly paid -- $54,000 a month -- for failure - OregonLive.com

Now, speaking not about this one necessarfily, but for situations like this in general...

On the one hand these people fleeced investors. And then, even when they stepped down and the company filed for bankruptcy, they still contionue to steal from the company. They had a fiduciary responsibility and not only failed to meet it, but a good case could be made they never do. As such, it's a scam. Some people lost everything they had. The people who purpetrate such scams should be held fully accountable- both criminally & civily.

On the other hand, major investors have some responsibility to watch over and ensure their investments are wise- or pull their money out of the investment. Another thought is that no one should take all their money and put it into just one single investment. That's plain foolish at face value and they know it. It's like setting oneself up to fail.

Or maybe it's a little of both. The scammers get run thru the justice system and the scamees learn the hard way how not to invest foolishly.
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Old 02-07-2009, 10:51 PM
 
1,230 posts, read 2,434,832 times
Reputation: 1476
Damn straight you better watch your investments, The days of being financially complacent are over.
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Old 02-07-2009, 10:54 PM
 
5,273 posts, read 11,925,150 times
Reputation: 5750
Quote:
Originally Posted by matzoman View Post
Damn straight you better watch your investments, The days of being financially complacent are over.
Agreed. When I'm in the stock market I watch my investments like a hawk.
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