Madoff "made off with my money"

[Takeuon]

sorry but i cannot feel for people that put thier life savings into madoffs ponzi scheme...

they made returns on thier money that were far above the market norm. they monthly statements they recieved were fake, filled with mistakes.....and even claiming to buy into money market funds that have not exhisted for 3 years....

people get ripped off because they do not take care of thier money....the "CON" in Con-Artist is for the word confidence...he gains your confidence, so that you give him your money...inspite of all the red flags.

2500 investors and none of them chose to do the research and monitor this guy or the firms actions.

"November also reported putting cash into Fidelity Spartan U.S. Treasury Money Market Fund. Fidelity says it hasn't had a fund by that name since 2005" CNN 1-22-09

i you are not watching your money, who is?

I'm sure you would feel differently had this affected your immediate family. That's all I'm going to say about that.

 

[MelodicMetalGod]

sorry but i cannot feel for people that put thier life savings into madoffs ponzi scheme...

they made returns on thier money that were far above the market norm. they monthly statements they recieved were fake, filled with mistakes.....and even claiming to buy into money market funds that have not exhisted for 3 years....

people get ripped off because they do not take care of thier money....the "CON" in Con-Artist is for the word confidence...he gains your confidence, so that you give him your money...inspite of all the red flags.

2500 investors and none of them chose to do the research and monitor this guy or the firms actions.

"November also reported putting cash into Fidelity Spartan U.S. Treasury Money Market Fund. Fidelity says it hasn't had a fund by that name since 2005" CNN 1-22-09

i you are not watching your money, who is?

So you're saying that the victims "got what they deserved"... b/c they trusted a professional? ???

 

[afterhours]

no....I am saying thy got what they got because they did not watch thier money.

am i excusing madoff, no. not at all.

but, the word "TRUST" and "LIFE SAVINGS" should never be in used in the same sentence. they trusted a crook, and even ignored the things they did not want to see...because they liked the money they were making.

they gambled...rolled the dice and crapped out.

 

[MelodicMetalGod]

no....I am saying thy got what they got because they did not watch thier money.

am i excusing madoff, no. not at all.

but, the word "TRUST" and "LIFE SAVINGS" should never be in used in the same sentence. they trusted a crook, and even ignored the things they did not want to see...because they liked the money they were making.

they gambled...rolled the dice and crapped out.

By that logic, anything not kept under a mattress, in a coffe can or inside a personal secret safe would be a similar gamble. That inlcude savings account w/banks, 401K's, money markets, etc. I don't know ANYbody that's 100% in direct control of their assets.

There may be those victims who had some idea that they were into something shady, but it seems to be the exception in this case. Besides, any scammer that came in as an investor would probably recognize the game pretty quickly and pull out just as quickly.

 

[DaCol.]

I predict :learn: he'll be out in 10 years. After his Wife and/or Family pays the Ruling Political Party (at that time) several million in DONATIONS .

And WE'LL NEVER know

Ya got to just LOVE our System of Justice

 

[MelodicMetalGod]

Ya got to just LOVE our System of Justice

I'd like to formally take issue with your use of the term "Justice" in reference to our legal system. There's justice and there's the legal system but you can only pick one for any given instance.

 

[Dr E]

In the end we all pay. There should be a scorched earth policy with this guy. Anything, everything he had should be liquidated and monies returned to the those that were bilked. His wife, kids, who ever that got stuff, property, homes, cars, jewelry what ever. Nothing should be left.

When you see the thousands of small investors and mom and pops of the world that lost everything not to mention the charities, hospitals, schools and so on...he should have nothing left. I was mortified that he was able to hire a Prison Specialist to help pick the prison he will be going to... BS, I say go with the Feds on the Supermax and let him rott...hey, seems to me his actions were terrorist in nature with the amount of people he hurt in just the US...GITMO!

End Rant...

Returning to normal programming.

 

[afterhours]

what are you calling a small investor?

 

[Acehole]

i know everybody wants to cry for the victims......

but when something is too good to be true....it usually is.

why should i feel any more for these people, than those burned by the nigerian internet scam..

Or.."lost the rent at the track." Its all a gamble.

 

[Dr E]

Anything under 5 to 7 million dollars as there are a lot of blue collar workers who were able to invest and build savings up to this level believing that this was a sound investment. But it is important to note...that was my Rant. You can not truly assign pain to a specific dollar amount.

As I watched charity groups close their doors on the sick as their trust funds were destroyed, as I saw elderly couples who were now returning to work in the mid 70's, as I saw more and more people coming out and their stories being told and yet his family was able to maintain a comfortable way of life...it is just an injustice that I fear will never be righted. Good for the news on Monday...quickly forgotten by Friday

I just get tired of seeing how people find new ways to deceive and in short screw other people every day. I do what I can locally and try to believe that it makes a difference somewhere, somehow.

So, please take no offense from my comment of "Small Investor"...it was just a mental note for those who have been harmed.