I was driving home tonite, and I was hearing another Bernard Madoff story, I had read how Trump rightfully called him a crook, I had also read how - at a Palm Beach Black Tie affair- there were heated words between investors and the Socialite who sold them on the investment. But $40-50 billion dollars? That's alot of F'in money.
You know who is going to lose? All those kids that stood to inherit their parents wealth- Trust Fund Babies- Heirs to the wealth of their parents and grandparents.What are they going to do?. Most have no skills? It will be interesting- cause no one has tapped on this story yet. So if you are a TFB affected by the Madoff scam- post a comment- let us know how really pissed you are!.....
...and to Bernie- I would ask to be put in protective custody, and don't walk the streets with that smug look. Because....well just because!
I am also wondering when the first suicide will happen, because it's inevitable...and it will happen!
BTW- years ago, after I lost a good chunk of change in the Internet bubble fiasco- I realized that the stock market was more manipulative by individuals, than going to Las Vegas and throwing you money out the window. In Vegas or any casino the odds are better at the Blackjack table, then investing in the stock market.........These Madoff victims made 10-20% per year for 30 years....it appears to me that most people made their principle back and more. In Vegas, when i am winning I take my initial investment off the table- and play with the house money. It appears greed set in with Madoff and his clients.
If you feel ripped off by Madoff- There is a statement and number on his website.