Posted on 12/15/2008 6:25:20 AM PST by marshmallow
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.
Hildy, these people have been glorifying criminals for so long it makes me sick - the fact they got ripped off by one is justice. Their movies have encouraged the creeps of the world to prey on the rest of us - and I guess these Hollywood BIGS felt their money and expensive security systems would safeguard them from the consequences of the filth they pumped into he world. I am thrilled that they were NOT immune.
Many of the so called "charities" are money making organizations. I have no problem with charities, I have a problem with charities that raise funds yet a large proportion of their "fundraising" goes to pay for the fundraisers or administrators. Many of the largest charities in the US have CEO's with huge salaries, and pay their fundraisers large percentages. Even if you are a non-profit, you can still pay your top-dogs large salaries. The Red Cross is one such organization. Don't get me wrong, they do some good work - but they are not a bunch of volunteers doing this because it makes them feel all warm and bubbly inside. The people that work for the Red Cross - WORK for the Red Cross, they get paid. Red Cross' Top Person: Marsha Evans Top Salary:* $651,957 (FY ending 06/30/03)
I recomend to anyone, before you donate, go to a charity's website and investigate their finacials. See where the money you donate really goes. A tiny percentage should go to admin. Lots of charities pay from 20 up to 50% of the donation to their fundraisers. So you donate $100, fifty bucks is going in the fundraisers pocket! Charities "investing" or shall I say "gambling" with money that I gave to be ditributed to those in need I find problematic!
The bottom line is most people trust in their financial advisors and folks like Madoff to take care of their money and portfolio. His reputation and background was strong but he ended up being a thief.
How that gets transferred to "greed" and "everything they deserve" especially without facts is a STRONG indication of class envy.
For the life of me, I will not understand why someone gets jealous of another's money. You should APPLAUD it success and the wealth that results from it. Go make your own.
I know what you’re saying, I just don’t wish this kind of thing on anyone.
But that’s always been the system...money is supposed to make money..that’s how capitalism works, even with charities...and until recently, it’s worked pretty well.
Aaaah - there is the problem! We are mixing charity with capitalism.
Charity is giving - capitalism is making money. The two should never be be mixed. You are taking a non-profit and turning it around by abusing the loopholes and making it a for-profit, yet still holding on to your tax exempt status. Eventually one will get caught and it seems these charities got caught by their own device - greed! Rather than wait for donations, or be happy with what they had coming in, they invested to have more. Greed will get you every time!
Ponzi was an amateur!
“And on a final note - they are not “VICTIMS” - they were investors who made BAD CHOICES. When you invest, you take a RISK”
Your a right to a degree. However, the worrying piece in all this is that these were not investments in companies in Russia or Latvia or Nigeria where you might expect to fall victim of a Ponzi scheme. This happened in the United States of America - which holds itself as a bastian of a fairly (rather than ‘overly’) regulated market. The accounting standards, the checks and balances, the laws in place, are supposed to mean that things like this don’t happen and when they do they are detected early. This went on for years! There will be all kinds of fund managers all over the world suddenly looking at the risk profiles of seemingly safe US investments and wondering if those risk assessments are sound, or how many other of these big funds are built on a lie. Money will be pulled, the selling will add to the panic, the downwards spiral will continue, it will be longer before investors like myself feel comfortable putting money back into America. (hey, you wont miss me at the moment the pound has collapsed anyway - but you will other international investors). This guy has not just hurt the invidual and institutional investors he served, he has hurt the integrity of the US markets, and with that he has hurt the United States.
I hope he is locked up till he draws his last breath.
Nice post.
That Jewish revenge as you call it ripped off a buttload of Jews too in the process....check out that list
As though fraud/theft is ok somehow....yes, I know you didn’t mean that
If Goldman Sacks is on the list there will be a government BAILOUT.
Well, generally I don't either. But in this situation I'd like to see if Hollywood will made a movie glorifying Bernie Madoff. They've glorified every criminal known to man - well the ones who have preyed on the rest of us, at least. Let's see if they do the same for one who preyed on them. I doubt it.
I do feel sorry for the good people who were ripped off by this guy - and there were many. But not the Hollywood creeps. I'm just sorry he didn't take them for more.
Bernie’s “investors” knew his “edge’ was frontrunning which is illegal. The fools were unaware that Bernie’s real secret was the “investors’ invested in a Ponzi scheme.
Certain financial crimes so betray the public trust that they should carry the death penalty. This is such a crime. They can call it the “Madoff Law”. He should be executed.
What is “frontrunning”?
Yeah, mine appears to have been deleated too by these brains. I offered two articles already posted on FR in the last couple of days, one being from the WSJ.
I’m still scratching my head.
I really need to drop FR.
Why was not post #38 pulled...by Hidy that said:
“Where is your evidence that they knew he was doing something wrong? If you don’t have it..SHUT THE HELL UP.”
After her comment, I entered the fray, and I showed evidence. Compared to this, mine were truthful and my remarks tame.
Is telling the truth and showing proof with research material bad now?
Do I really want to know the answer?
Probably not. I’m about to walk away.
Bill Gates was already ripped off by Warren Buffet big, big time. Buffet created a class B stock in Berkshire Hathaway, donated it to Gates Foundation for partnership interest(control as it is not legally a partnership), after Buffet had stripped away the voting power of the class B stock to 1/200th of a share of the class A stock he retained ownership of. It’s like donating your checking account but retaining all signature authority over disbursements! Talk about the ultimate corporate freeze technique for estate planning purposes!
I couldn’t figure out why Gates did it until I started checking the background history of his legal counsel.
BS. No way Bush would pardon Maddoff. Someone is pulling your leg.
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