What happens now - the Bernard Madoff Crisis and its effects. by btrinBVI .....
By now most everyone that had never heard of this Wall Street Tycoon has come to know Bernard Madoff as a crook. Perhaps the biggest crook of all time this seemingly intelligent and generous man has built a house of cards with his own family.
Date: 12/17/2008 2:58:56 PM ( 13 y ago)
By now most everyone that had never heard of this Wall Street Tycoon has come to know Bernard Madoff as a crook. Perhaps the biggest crook of all time this seemingly intelligent and generous man has built a house of cards with his own family. Even worse than involving your family in a fraud is using your position and conjured track record to attract funds from charitable foundations, shame on you Mr. Madoff.
We will be watching this trial for the next two years just like OJ, only the pictures will be in HD and the amounts of money will be obscene. Finally one of Wall Streets untouchables gets his hat handed to him.
We have witnessed in the last couple of months our Government at its worst. Do you ever remember a time when Wall Street had to be bailed out - due to the lack of Governmental oversight - HA, we have been duped - the American public, including myself, has been taken for more than 700 billion. Then the venerable SEC who supposedly knows all and controls all is informed of the Madoff scandal for the 15th time in as many years - is there a single branch of Government actually minding the store or are all feds asleep at the wheel.
Finally what does this all mean for us, average Joe. Well thankfully my family was not wealthy so we did not have millions with this scumbag Madoff and as for the market crisis everyone that was long prior to the turn surely would have shorted by now and is seeing the numbers at least normalize in their portfolios.
Tomorrow we will go back to work and pay into our 401k and dream of the day we can put together enough money to send it to some guy who owns a Hedge Fund.
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