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Old 12-18-2008, 05:52 PM
 
Location: Great State of Texas
86,068 posts, read 74,672,087 times
Reputation: 27602

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Probably inherited money. Palm Beach is "old" money, not new money.
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Old 12-19-2008, 07:28 AM
 
Location: Heartland Florida
9,324 posts, read 24,255,603 times
Reputation: 4927
I hope that more of that dead weight gets scammed. Florida is so full of cheapskate "rich" people that are a drag on innovation and progress. Besides. they will never be living under the bridge anyway.
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Old 12-19-2008, 07:31 AM
 
19,084 posts, read 20,640,162 times
Reputation: 8353
LOL... these people were living off the interests of their investments and paid very little taxes... they put everything in there to reduce their taxes and hide it from the Gov... unfortunately for them, they put it with the wrong person... they were trying to game the system and they themselves got owned... I feel no pity for them..
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Old 12-19-2008, 08:01 AM
 
26,661 posts, read 40,594,954 times
Reputation: 14758
Quote:
Originally Posted by evilnewbie View Post
LOL... these people were living off the interests of their investments and paid very little taxes... they put everything in there to reduce their taxes and hide it from the Gov... unfortunately for them, they put it with the wrong person... they were trying to game the system and they themselves got owned... I feel no pity for them..
Even if they knew a way to pay less taxes...they gave much to charity which will be over..., they also spent a lot of money in the community, which will be over...so many people will be the victim of this Madoff guy!

But I guess there will always be people jealous of the rich people...by the way now there are even less people who will be taxed higher by Obama...so they will get money from Obama.
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Old 12-19-2008, 08:26 AM
 
Location: Heartland Florida
9,324 posts, read 24,255,603 times
Reputation: 4927
Perhaps if there were less idle rich people to come and drive up prices there would be less need for "charity". I would prefer more active innovators getting rich from their efforts to the dead weight that comes to Florida and makes it more difficult for new innovators to grow and prosper. Just look at how expensive housing is in the sunshine state, that's a result of the idlle rich and funny money. Good for you Madoff!
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Old 01-03-2009, 06:44 PM
 
Location: Prison!
913 posts, read 2,937,458 times
Reputation: 269
crap....now we have a new group of "used to be rich" to fight the lines with us at the grocery stores! Absolutely no sympathy for those who lost everything....greed get the worst of them. Now please no bailout for them! We need a new group of Walmart greeters!
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Old 01-03-2009, 07:06 PM
 
706 posts, read 1,186,953 times
Reputation: 438
I'm sure there are many exceptions, but in Palm Beach it's pretty safe to say there is a lot of inherited money passed down thru generations. As families get bigger and no one is working to increase the family fortune, the demand for ever higher returns gets greater. A phony like Madoff probably found easy pickin's there.
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Old 01-03-2009, 08:20 PM
 
2,541 posts, read 10,522,733 times
Reputation: 968
i wonder how many more wall street firms will turn out to be ponzi schemes?
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Old 01-03-2009, 08:39 PM
 
1,735 posts, read 4,300,066 times
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With all of the investors money that he gave to charity, he sounds a lot like a modern day Robin Hood.
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Old 01-04-2009, 06:08 AM
 
26,661 posts, read 40,594,954 times
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Quote:
Originally Posted by tallrick View Post
Perhaps if there were less idle rich people to come and drive up prices there would be less need for "charity". I would prefer more active innovators getting rich from their efforts to the dead weight that comes to Florida and makes it more difficult for new innovators to grow and prosper. Just look at how expensive housing is in the sunshine state, that's a result of the idlle rich and funny money. Good for you Madoff!
ll you are entitled of your opinion and you are allowed to "don't care" and think it is okay that they are scammed.
Don't complain if your 401K is worth nothing or you think you pay to much for soc. sec......
Or if you loose your money to a person you thought you could trust...don't whine.....or feel compassion for others who didn't do anything wrong other than not being smart ot devide their investment.
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