For the love of all that is holy. Who will help these poor people.
Posted on 12/18/2008 6:45:21 PM PST by Red in Blue PA
I’ve wasted my life thinking that investing was a gamble. Little did I know that all I had to do was get ripped off to get rich.
Maybe I should ask for a bailout.
A perfect illustration of this whole scenario is a victorian novel by Anthony Trollope called 'The Way We Live Now'....it was made into an excellent BBC Series a few years ago. 'Speculating' is what this used to be called....maybe we should go back to that terminology ;)
Re: To follow this logic...anyone who lost money on their 401Ks ect should get a bailout.
Precisely.
Thank you.
I thought that was Steven Spielberg with a squeegee at the freeway exit this evening!
There’s a cap from the securities protection fund IIRC. Somewhere between 100k and 500k. So if they invested millions, too bad. Anyone with millions should not have all eggs in one basket either, so no pity here.
one didn’t buy shares in madeoff inc. they gave him money to invest and followed his advice...your comparison is apples to oranges...
I kinda like this All-Terrain model with Knobby Tires....and a place for a cooler! ;)
Some enterprising film or t.v. producer should head to Palm Beach and offer the “newly poor” a chance to make some money by being in a new reality show or movie.
Call it:
Trading Places - Part Deux - This Time It’s For Real.
We can watch them stumble around a Walmart (What’s a Walmart?) Watch them try to figure out how to pump their own gas, watch them try to raise their children without a nanny, watch them go through plastic surgery withdrawl... hilarity ensues.
Fraud is fraud. Or are some more deserving because they lost more?
The analogy is spot on.
We peons need to get organized.
I got your back.
NO MORE BAILOUTS. These jerks made their millions and by the devil, the swam in their millions. Now because their paupers because of the bad-decision making, they want a bailout? No way, No how, No chance.
The latest reports say Madoff promised investors steady 13% returns. How could he do that? Of course, he couldn’t. Stocks have gone nowhere for the last 10 years. The average rate of return? Zero. Promising 13% was clearly a flim flam. But investors must have guessed that he was swindling his retail trading customers in order to deliver steady, above-market returns to his investment accounts. They may not have understood how it worked, but maybe they didn’t want to.
Nobody is as easy to scam as a scammer...and Madoff scammed them all. Bravo!
If they were as intelligent as the news articles paint them out to be, they would have a red flag raised when they got 13% returns when the overall stock market was going nowhere. After all, Madoff’s fund supposedly was made up of large cap companies.
The writing was on the wall. They did not see it.
The end.
oh yeah I forgot ENRON was an ‘registered broker’ just like Madeoff and therefore all investments in ENRON were covered under the SIPC charter...do a little research before patting yourself on the back...
Put it on Pay per view - and raffle off tickets to push the button on the gallows.
Sorry. This was obvious to anyone who watched the news and read the statements. The shareholders supposedly owned large cap US companies. Returns were being promised of 13% when the US market was not going anywhere.
Fraud isn’t really fraud when the writing is on the wall, as it was on this case.
Where is all the money he stole? He couldn’t have spent it. THat is very curious to me....
My God, you've been hood-winked.
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