Wall Street continues to reel from the Madoff scandal

Kathy, sorry. I meant Norwegian.

REALITY: CAVIET EMPTOR.....BUYER BEWARE....
THE GREED OF THE NAIVE BUYERS, CHASING UNREALISTIC RETURNS, WHO DID NOT DO THEIR DUE DILIGENCE....CAUSES THEM TO BE EQUALLY GREEDY, AND STUPID.
SORRY....DOODOO HAPPENS.

HANG 'EM!

wHERES the bail-out for the common-workin man ? You are gonna run aground bailin out every companie that starts cryin for a bail out and the taxpayer will never get its bailout because all the greedy,greasy,tigh-wad,theifin companies will suck it all up !!

Bernie and his investers are extremeley astute. These are mostly high end investors that made a lot of money on a lot of return on their investments and were whistling dixie when times were good. Now they are crying. BUT! Guess what? Tax writeoffs. Do we, the bail-out taxpayers get a write off? I don't think so. The supposed losers in this are the winners.
Things are come to a head and we taxpayers are the losers.
Anarchy? Man, it could happen, God forbid!

Marko

You people don't see the big pic. Everybody loses! This is just the beginning! Mccain was the fall guy. Obama was bought and paid for, for one reason. To keep the blacks and all the white losers calm. 1)Get in shape 2)Learn to use a weapon 3)Rid yourself of any fears 4)Learn to live like they did 200 years ago. Good luck, your on your own.

The sad thing is they will never face real punishment, look at Konrad Black, every body has forgoten about him now a new guy is on the front page, and soon it will be some one else and this guy will be forgoten. The government is a joke if they think one or two guys are responisble for all these scams, the is an army behind each one. All crimes and criminals have one thing working for them...time,in time people forget what has happend because the system, people in charge and governments allow this to happen. yet smoke a dooby on main st and get thrown in jail for five years....ANARCHY1

I disagree with the author of this article when he says, "The scheme was ingenious. The low double-digit returns Madoff showed were believable enough to fool most investors." Double-digit interest is low? Really. In most instances, it is unheard of. Only the greedy seek anything less than double-digit, and even 8% or 9%. No, the for-the-most-part avaricious investors in these hedge funds, exclusive "clubs" for only the wealthy, even if their money is retirement money, wanted more than a low investment, they simply wanted more - and more. They didn't want to know or believe anything negative about Madoff because they WERE getting more. The title "celebrity" as in Spielgberg, means nothing. They were all equal in greedily reaching for double-digit returns. I have no sympathy for them. One big investor in an interview said she would like to ask Madoff why? I wanted to answer her, "For the same reason as yours: greed." He lived high on the hog, a pillar of the Palm Beach society, with a yacht and homes and guess what else? Some of the money funded all that. Many entertainers and athletes and whatever have frittered away millions, so given the more than 9 years of high living that Madoff enjoyed, billions are not beyond the realm of imagination. He was a crook who kept an exclusive group of clients. The only requirement, qualification, was extreme wealth - and add on a greedy mentality. Given the fact, too, that wealth was what got people into these funds, you cannot feel any more sympathetic for those who put their life savings into this scam in order to live a serene and comfortable retirement, because they were part of the common denominator: sufficient wealth to induce Madoff to put them on the hook with those with billions. They are all equal victims, and were equally greedy. Low double-digit returns? Say what?

Greed has its price. Everyone needs to take personal responsibility for their actions. If the deal seems too good to be true...it probably is. Understand it, research it, and always error on the side of conservatism when making a decision. You may not become fabuously wealthy but you won't become fabuously broke.

Madoff is not a bad guy, beside the Union Officials, the bankers, the investment houses and all the big company's that pay the large bonus to their top people who create no new profit but protect not loosing any larger percentage than they lost last year. Hell,maybe he is a saint in todays market. I still think that ole Bernie Ebber's didn't know what was going on at WORLD COM even though he was the CEO. Oh well, O. J. got away with it the first time.

Lowering interest rates makes investing in the stock market, or any other vehicle besides a savings account, the only option - Wall Street flim flam men want our money and will go to any length to get it.

They need to make a "hard" lesson on this piece of shit and his kind once and for all!

Why not consider these acts --- as acts of "Economic Terrorism" --- and, subject these "fat cats" to the "Same Treatment" as is being met out to those suspected of "Conspiring to Commit" an act of "Terrorism."

It must have been more fraud than Ponzi scheme.
After all, corporate and state pension funds are Ponzi schemes depending on new younger investors coming into the "plan" So is Social Security a Ponzi scheme by depending on new inputers to pay out retirees. As Leno pointd out.

LEARNING FROM BERNIE MADOFF

WHAT IF .... a letter written by Bernie Madoff explaining himself was discovered?
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http://pacificgatepost.blogspot.com/2009/01/bernie-madoff-letter-of-explanation.html
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….in his own words?