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Old 12-18-2008, 07:22 AM
 
26,661 posts, read 40,589,239 times
Reputation: 14758

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PALM BEACH - To get accepted as a member at the Palm Beach Country Club - founded by Jews during the 1950s when the other clubs in this exclusive resort town were restricted - you have to be more than rich. You have to be a real mensch, a person of character.

And the way to prove that is to show that you contribute a fortune every year to charity.

Bernard Madoff passed that test long ago, something his fellow members have suddenly come to regret.

Prosecutors say Madoff preyed on club members, scamming them for millions dollars and betraying the trust that is so valued inside the walls of the exclusive club.

Ninety-five-year-old Carl J. Shapiro, who thought of Madoff as a son and vouched for him with many fellow club members, told the Palm Beach Daily News that the revelations of Madoff's trickery were like "a knife in the heart."

Madoff Allegations Hit Palm Beach Country Club Hard

click on the link if you want to read more of this sad scam story that left people with a feeling of betrayal and with less money!
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Old 12-18-2008, 11:39 AM
 
Location: Houston, TX
17,031 posts, read 27,539,223 times
Reputation: 16212
I'm still shocked on how many people he bilked and for how much. Usually wealthy folks have a keen eye for finances.
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Old 12-18-2008, 11:48 AM
 
Location: US
1,189 posts, read 3,670,340 times
Reputation: 822
Oh god this is terrible. Where will they play tennis and drink mint juleps now? They'll have to be around...normal people....I feel dirty just thinking about it.
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Old 12-18-2008, 12:01 PM
 
Location: Hope, AR
1,505 posts, read 2,853,414 times
Reputation: 248
Well we can safely say that they were NOT good judges of character

Quote:
Originally Posted by bentlebee View Post
PALM BEACH - To get accepted as a member at the Palm Beach Country Club - founded by Jews during the 1950s when the other clubs in this exclusive resort town were restricted - you have to be more than rich. You have to be a real mensch, a person of character.



!
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Old 12-18-2008, 02:31 PM
 
Location: Castle Hills
1,133 posts, read 2,378,734 times
Reputation: 611
hahah... for the people who lost everything.... I feel bad for them but at the same time why would you invest EVERYTHING in this guy? Even if he was giving you good returns its not wise at all to trust someone with ALL of your money. 50% I could understand.
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Old 12-18-2008, 02:42 PM
 
Location: Visitation between Wal-Mart & Home Depot
8,308 posts, read 35,217,152 times
Reputation: 7116
Quote:
Originally Posted by Lulu101 View Post
Well we can safely say that they were NOT good judges of character
I think we can more safely say that Madoff is, indeed, a sociopath.
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Old 12-18-2008, 03:01 PM
 
19,090 posts, read 20,635,049 times
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Quote:
Originally Posted by jimboburnsy View Post
I think we can more safely say that Madoff is, indeed, a sociopath.
I don't think so... I think the played the game and he played it well... the only difference between him and a politician... the politicians can do the same thing and it is legal...
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Old 12-18-2008, 03:08 PM
 
Location: Hope, AR
1,505 posts, read 2,853,414 times
Reputation: 248
I wonder how these people earned all that money in the first place if they have such poor investing skills.

Quote:
Originally Posted by ufcrules1 View Post
hahah... for the people who lost everything.... I feel bad for them but at the same time why would you invest EVERYTHING in this guy? Even if he was giving you good returns its not wise at all to trust someone with ALL of your money. 50% I could understand.
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Old 12-18-2008, 03:16 PM
 
1,570 posts, read 1,724,604 times
Reputation: 461
Quote:
Originally Posted by J Arp View Post
Oh god this is terrible. Where will they play tennis and drink mint juleps now? They'll have to be around...normal people....I feel dirty just thinking about it.
Its a bad thing when we have people like you around....I feel dirty just thinking about it.
The guy was a genious, yes smart people can be evil. He shouldn't be jailed at all.
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Old 12-18-2008, 03:20 PM
 
1,570 posts, read 1,724,604 times
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Quote:
Originally Posted by Lulu101 View Post
I wonder how these people earned all that money in the first place if they have such poor investing skills.
Most of it was passed down. Plus the majority did not earn their money from the stock market.
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