SO.....Mr. Madoff has spent his first night in jail. Here are a few questions I thought are worthy of discussion:
"Prosecutors gave assurances they are investigating Madoff's wife and other family members and employees to determine what role, if any, they played in scam." (from the linked article)
DO YOU THINK HIS FAMILY'S INVOLVED?
"Prosecutors have already said low-level employees in Madoff's New York offices participated by mailing out tens of thousands of phony monthly statements and trading confirmations to make it look as if customers were making money in the market."
IMAGINE HOW COMPLICATED THIS PONZI SCHEME WAS? COULD THESE LOW-LEVEL EMPLOYEES GO TO JAIL, TOO??
"Gibbs said the Obama administration will do everything possible to ensure strict enforcement of securities regulations "and hope that through those actions that that kind of greed and irresponsibility and that kind of criminal activity never happens again."
AND, DO YOU GET THE FEELING THIS HORRIBLE SITUATION JUST COULDN'T HAVE COME AT A BETTER TIME FOR THE OBAMA PEOPLE?
I feel a little badly if I walk by someone, didn't at first realize who it was, and hadn't said hello! I'm trying to figure out how I could show my face and, more importantly, LIVE with myself, if I'd wiped out the savings of trusting friends. Well, Madoff will sure be living with himself the rest of his life, in a cell, huh? WHAT a story........
(Kevin Bacon was one victim, so Elmer's Brother knows how I FEEL about this!)
z
16 comments:
Could he really call those people friends he did that too? I don't think so. I have good friends and some not so good friends but I would never even entertain a thought of ripping them off.
I'm not sure if the employees will be held liable, because they would have to prove they knew about the whole thing. They could just claim to have been doing their jobs and mailing out statements like they've done for years working there, you know?
As far as his family, well I don't know if I would say for certain but the first thing would be to figure out how much of the business they were actively taking part in if any.
Blessings.
I'm hoping he goes to the head of the Aryan brotherhood inside with a really great idea about investing their canteen money... then the crash.
As far as him doing this alone ... it's virtually impossible.
Had to have help.
To be honest, I've not lost a lot of sleep over this. I don't want to be mean about the victims and I do feel sorry for them. Let's face facts though, most people that lost money here were being just as greedy. If you are being promised incredible returns, you have to wonder if all is on the up and up. Nobody wanted to question it all because they were making money.
But there is something very dark and ugly about this pathology.
One of the people who lost his life savings was a plumber who Madoff invited to invest after the guy SAVED MADOFF'S SON FROM DROWNING.
A man who is probably a very unsophisticated investor rescues your son and you repay him by wiping out his life savings.
My own personal view , is Madoff had help. No way did his wife and close, intimate relatives not know a little something about this operation.
These people he did the dirty to, did not deserve this, even though they might have been greedy.
The man Madoff, is a crook, period, and so must his family be.
It seems his wife did the socializing, so, really , this bunch just comes off as the same old confidence tricksters that have always been out there.
Obviously, Madoff missed his true calling in life, that of being a senator or U.S. Congressman.
WVDOTTR
As to your comment about this "scandal" coming at a good time, Z, yes, it has.
Truly, I could not do what this man and his helpers did to friends, nor could I do it to people I did not like.
One either has morality and honesty or not.
This is a bad man, period.
WVDOTTR
why so tired z, stay up and watch syracue - uconn last night.... elmers brother not withstanding things like this will always happen because people are looking for an easy way to make a quick buck unfortunatly....
said it isn't so Z...not Kevin?
Obviously, Madoff missed his true calling in life, that of being a senator or U.S. Congressman.
bwahaha
This whole situation is just more proof how corrupt things have become. One does not know what to think or believe anymore. It is rally confusing.
All of a sudden, Madoff has found a spittle's worth of honor and he's told authorities that he had no help. That's a load of BS. He had plenty of help. The question now is, can it be proven in a court of law? I don't know.
Greed is an ugly thing, isn't it?
I personally know a few people who were fleeced by Madoff and his cohorts.
What was done in unconscionable! I find his apologies lame and self-serving.
Of course more people people were involved than Madoff.
Duck said, One of the people who lost his life savings was a plumber who Madoff invited to invest after the guy SAVED MADOFF'S SON FROM DROWNING.
I hadn't heard that one. Clearly, if true, it speaks to the fact that Madoff is the lowest of the lowlifes.
Always, if that's true, and Ducky has such a heart for plumbers, where was he when the obama people tried to ruin a middle class plumber's reputation for just daring to question him?
man.
The lesson here is tried and true.
"If something seems too good to be true, it probably is."
I say, never gamble with more than you can afford to lose.
There is an element here of greed also on the part of the investors in this terrible scheme.
They bear some responsibilty in their participation in that it seems they, in many cases, risked everything to make a quick windfall.
How do we know some of those people didn't know it was a ponzi scheme, and gambled they wouldn't end up on the bottom of the pyramid?
As for the plumber, what was done to him is beyond reprehensible. He was a babe in the woods. He deserved a reward for his heroic act. He, of all, should get it.
Pris
Should be burned at the stake --- on NATIONAL TV!
~ FT
PS:
I MEANT THE ENTIRE MADOFF CLAN AND THEIR ASSOCIATES.
The burning should not take place, however, until they've been placed in the stocks --- and carted around to every major city in the USA.
Not really kidding this time.
And WVD, you are a first class wit.
~ FT
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