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Old 01-04-2009, 12:00 PM
 
Location: Rockland County New York
2,984 posts, read 5,335,746 times
Reputation: 1295

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Just because people are wealthier does not mean they are more or less intelligent than any one else. They are just greedier and absent minded when it comes to understanding how a dollar is earned. I am not weeping for theses people. Fools and their money are soon parted.
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Old 01-04-2009, 05:37 PM
 
2,541 posts, read 10,523,214 times
Reputation: 968
Quote:
Originally Posted by RedNC View Post
With all of the investors money that he gave to charity, he sounds a lot like a modern day Robin Hood.
Didnt most if not all that money go into jewish charity?

The article said most of the members donated to jewish causes, and charities

Is that how Israel buys all those bullets?
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Old 01-05-2009, 05:50 AM
 
26,661 posts, read 40,602,977 times
Reputation: 14759
Quote:
Originally Posted by Stac2007 View Post
Just because people are wealthier does not mean they are more or less intelligent than any one else. They are just greedier and absent minded when it comes to understanding how a dollar is earned. I am not weeping for theses people. Fools and their money are soon parted.
Don't whine if in the future wealthier people don't care about people who have less.....they are all people and they didn't make a smart decision to put it all in one spot, but when something happens to people with less money and they get scammed, should others say "too bad solve it them self, they were just stupid".....shouldn't a little compassion be nice...they are all human and some lost everything they had to this scumbag!
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Old 01-05-2009, 10:02 AM
 
19,084 posts, read 20,646,638 times
Reputation: 8353
I will give them compassion (by feeling bad for them) but don't ask me to give a cent from my wallet... One thing I do notice, that greedy people are the easiest to scam...
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Old 01-05-2009, 02:33 PM
 
Location: In My Own Little World. . .
3,238 posts, read 8,085,382 times
Reputation: 1601
I'm not sure these super rich were greedy. Old money doesn't usually involve greed. I feel sorry for them because they trusted someone who had a good reputation and who they thought was a friend. Going from lots of money to no money must be devastating. I feel compassion for anyone who loses everything, whether it's through a scam or a tornado.
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Old 01-06-2009, 04:41 AM
 
26,661 posts, read 40,602,977 times
Reputation: 14759
To Evilnewbie....You don't have to give them a dime and neither do you have to give anything to the homeless or others who have nothing...that is all up to you. I'm glad you give them compassion, like they will do for you when you get scammed or when you lose everything due to whatever.

To Colleeng47: I totally agree with you. Even if it isn't old money, I don't believe it is all "greed". People hear from others what a good deal it is to invest with Madoff and never heard any other thing. Madoff was audited and never anything wrong came out although some people were suspicious but if you never spoke with them, they wouldn't have known...
This wasn't like a sad letter from Nigeria to send money and you will become a millionair....

IMO there will be numerous lawsuits and many people will lose their job since they looked the other way and could have prevent this from happening...and one lesson to be learned...don't invest all your money in one fund.

The biggest red flag for me is that Madoff had such a small accounting office for the billions he had under his wings. But I have to say I never heard of Madoff before this scam came out.
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Old 01-06-2009, 06:36 AM
 
Location: Londonderry, NH
41,478 posts, read 52,784,137 times
Reputation: 24677
Trust but verify. This man is a thief and should be treated as a thief just like anyone else. I have heard that the bankruptcy court is likely to force some of the early investors to give money back the the latest investors in the scheme. That would be fair.
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Old 01-06-2009, 07:11 AM
 
Location: Heartland Florida
9,324 posts, read 24,257,221 times
Reputation: 4927
Quote:
Originally Posted by NJ Chutzpah View Post
i wonder how many more wall street firms will turn out to be ponzi schemes?
The whole US monetary system is a Ponzi scheme. ANyway I have gotten some good laughs saying how investing with someone whose name sounds like "made off" is always a bad idea.
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Old 01-07-2009, 05:27 PM
 
93 posts, read 236,504 times
Reputation: 27
quite honestly, i don't give a s#!t about anyone that got caught up in this POS's scheme. what you have here is utter greed AND stupidity, at it's height and on ALL levels... directly and/or indirectly. NO investing is and/or should be guaranteed!!! this country has become a bunch of spineless wimps... complaining and/or "running home to mommy" when they lost their balls in a bet with peter. just as i could care less about their windfall, the same applies when they fail... IT WAS THEIR CHOICE TO BET THE FARM!

some may say... what about the charities and/or elderly who, beyond their control, were thrust into this ponzi scheme? BS... no ONE person and/or ANY SINGLE charity is an innocent party here. it is an absolute RISK when investing", in ANYTHING, therefore when one makes the conscious decision to "play with their $'s" it is then their OWN fault when it ALL goes "bye-bye"!!!

besides UTTER GREED and/or stupidity, can anyone tell me why the elderly and/or charities should have had so much invested, with madoff? i'm no financial wizard but i do know, after the age of 55+, investing should "slow to a crawl" and/or become extremely conservative. to be in "madoff's ring of champions" you had to know someone and/or be "connected" financially... i feel sorrow for none of them.

sad thing here is madoff, being FAR BEYOND a criminal and/or felon, is sitting in his multi-million $ penthouse suite mailing out millions to his family and cronies right beneath the feds noses. at the same moment, those he viciously ruined are sitting on their soon to be foreclosed stoops licking their DEEP wounds, desperately searching for some POS trial attorney to file a class action suite, to pull them out of the hole THEY dug... what has this country turned into?

there are wayyyyyy too many self absorbed, spineless, punks in power, politics and society in general looking to LINE THEIR POCKETS, no matter who it hurts! IMO this recession/depression is a necessary "purge" to rid our once great country of all the unnecessary "fat" and/or "waste" brought on by GREEDY FOOLS and their insatiable appetite for decadence. it's time to get back to the basics... sadly, only the fittest may thrive and/or survive.
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Old 01-08-2009, 04:36 AM
 
26,661 posts, read 40,602,977 times
Reputation: 14759
Quote:
Originally Posted by bruno_rs View Post
quite honestly, i don't give a s#!t about anyone that got caught up in this POS's scheme. what you have here is utter greed AND stupidity, at it's height and on ALL levels... directly and/or indirectly. NO investing is and/or should be guaranteed!!! this country has become a bunch of spineless wimps... complaining and/or "running home to mommy" when they lost their balls in a bet with peter. just as i could care less about their windfall, the same applies when they fail... IT WAS THEIR CHOICE TO BET THE FARM!

some may say... what about the charities and/or elderly who, beyond their control, were thrust into this ponzi scheme? BS... no ONE person and/or ANY SINGLE charity is an innocent party here. it is an absolute RISK when investing", in ANYTHING, therefore when one makes the conscious decision to "play with their $'s" it is then their OWN fault when it ALL goes "bye-bye"!!!

besides UTTER GREED and/or stupidity, can anyone tell me why the elderly and/or charities should have had so much invested, with madoff? i'm no financial wizard but i do know, after the age of 55+, investing should "slow to a crawl" and/or become extremely conservative. to be in "madoff's ring of champions" you had to know someone and/or be "connected" financially... i feel sorrow for none of them.

sad thing here is madoff, being FAR BEYOND a criminal and/or felon, is sitting in his multi-million $ penthouse suite mailing out millions to his family and cronies right beneath the feds noses. at the same moment, those he viciously ruined are sitting on their soon to be foreclosed stoops licking their DEEP wounds, desperately searching for some POS trial attorney to file a class action suite, to pull them out of the hole THEY dug... what has this country turned into?

there are wayyyyyy too many self absorbed, spineless, punks in power, politics and society in general looking to LINE THEIR POCKETS, no matter who it hurts! IMO this recession/depression is a necessary "purge" to rid our once great country of all the unnecessary "fat" and/or "waste" brought on by GREEDY FOOLS and their insatiable appetite for decadence. it's time to get back to the basics... sadly, only the fittest may thrive and/or survive.
It is your right to think the way you do...isn't it great to live in a democracy!

But the other thing is ....I hope you think the same about all the people in financial trouble due to them signing bad mortgages, getting bad realtors advise, bad appraisers....since that all has to do with greed as well...

The bank employees who got fired due to the CEO bad management and the big 3 who had wrong management and spend the money bad....well the people working their worked for companies who can be called greedy as well since their CEO's made millions....so these companies had to do with greed....don't feel sorry for any one involved...as you stated "all greed"....even the innocent involved?
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