Posted on 12/15/2008 6:25:20 AM PST by marshmallow
You replied: That's quite an assumption
Obviously if you have to make a comment like that - you truly do not understand what it means to be rich!!!
If it sounds too good to be true, odds are that it is. With any investment, there’s always risk. When you give your money to a crook, the risk rises considerably.
WOW, Hildy,
What a truly unnecessary thing to say to someone who was being nothing but friendly towards you.
Exactly!
I know a guy who was in Bernie’s fund via another fund that invested with Bernie. This guy had a $500,000 401k that’s probably torched. If something sounds too good to be true, it probably is.......unfortunately this guy was smart enough to make the money in the first place but not smart enough to understand where his “investment” was actually residing.
True, but when the nature of the risk is fraudulently understated, that undermines confidence in the market, and things like this are very much the reason we are in the economic dire straits we are in today.
No, I know what it means..the fact you think you know the happiness level of others means you truly do not understand much of anything. That being said, if you look at that list, so much was lost in OTHER FUNDS...and who invests in those other funds? Your neighbors, your cousins, maybe even you through your own brokers. If one part of the system fails...alot of innocents get hurt. Did you see the charities that will no longer be helping the needy? There are and will be many, many, VICTIMS of this and if you can’t even have empathy at that level, then I seriously doubt the “wealth” you speak of.
what did I say? Homeschoolmama said that she’s probably wealthier (happier) than the financially wealthy people on that list. I find that a mind-boggling assumption. what was wrong with that?
Jewish people stealing from each other. Don’t they have a law against that kind of stuff.
If I might interrupt the food fight for just one moment, you have raised a good point. It is the "Funds of Funds" which have missed the boat on this issue and there is a school of thought which says that these are the guys which will be sued by the "victims" in order to recoup losses as Madoff has apparently also lost everything and is thus not a viable option for an attempt to recoup losses.
Funds like Tremont, Fairfield Greenwich, Banco Santander.....these are they guys who need to be fried. They are paid substantial sums of money to evaluate operators like Madoff and to invest wisely. As I mentioned to you in a previous post, there have been suspicions about Madoff's practices around for some time and the "other funds" chose to ignore them and go with Madoff.
So to summarize, the list undoubtedly contains people who've been unknowingly and unfairly bilked but there are also other players on the list who have a case to answer.
Huge Jewish exposure.....wow.
Note to Spielberg and other Hollywood limo liberals : In the average Hollywood movie Mr. Madoff would be a dramatic hero. The cops and bean counters going after him would be seen as "not cool".
Spielberg - is there any chance that you've reaped what you've sown?
My guess is, "yes".
Sadly, so have the rest of us - with the creeps of the world emboldened by Hollywood's love of the underbelly criminal examples.
Thyssen Family .. This is the one and same German corporate name that goes back to deep and dark Nazi prime contract work. Ironic jewish revenge.
You take the cash infusions from new investors to give great returns to old investors who want redemptions and word spreads how well you are doing and the money keeps coming in until the obligations outpace the new cash coming in ....which is more likely in a downturn like we are in where folks are sitting on their cash.....or if the manager has been stealing too much.
We had a similar thing here in Nashville with only around 100 million and the perp eventually blew his head off. He had been known as a big philanthropist around here till then with his subterfuge.
Sorry to see the usual class envy/conspiracy/whatever on FR like these folks deserved to be fleeced.
Someone sets up an investments shoppe and one has reasonable expectations they will not lose all of your money....at least not through fraud....bad investments is more understandable.
Did you also see today all the foreign investment funds that were involved. This was huge...and, again, many many victims. To start making this a class envy fight diminishes us. This is a fight for capitalism...right now, capitalism is losing.
you get that sorta thing here sometimes
it’s impossible to know everything a money manage does with one’s investments
i’m 51, this sort of thing is a major part of my life, managing investments and I can tell anyone I don’t know exactly what this or that equities or income platform is doing right now
i try to watch their performance and track record and ratings
when one uses a private closed fund or group or hedge etc, then you are almost just along for the ride and banking on performance...which in this case was pure fraud
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