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G.E.SattlerWelcome to Way Off Wall Street, a column dedicated to providing Main Street opinions on topics of interest to investors. Each installment highlights the views of Americans who are far removed from the canyons of Wall Street -- and who often see things more clearly as a result.

After reading nearly 400 publicly posted reader comments regarding the Bernard Madoff Ponzi scandal, I believe that I may have a good feel for the grass roots mood on the subject. In a nutshell, the average American internet crawler is thoroughly disgusted with our financial system and its regulatory agencies. They are fed up, strung out and unequivocally irate. As for Bernard Madoff himself, the overwhelming assertion is that he should be strung up immediately. That sentiment is not meant in a figurative sense either. People want Bernard Madoff publicly hanged, and they want it done with much fanfare in a place such as New York City's Central Park. Yes, this sounds rather coarse. Perhaps it's even uncivilized, but as the internet is my witness, this is what people are saying.

Very few of the comments I have read indicate a feeling that Madoff's investors simply got what they deserved. I did, however, read many statements regarding the fact that high level greed obviously forced many large eggs into one very questionable basket. I myself have not much pity for those investors who lost "everything" to Madoff's twisted dealings. It is my opinion that if investors don't have the sense to diversify, and thereby somewhat protect themselves, they are not very deserving of much wealth. Even my own paltry savings reside in no less than five separate accounts, however paltry.

Continue reading Way Off Wall Street: The public responds to the Madoff scandal

Way Off Wall Street: The public responds to the Madoff scandal originally appeared on BloggingStocks on Tue, 06 Jan 2009 19:00:00 EST. Please see our terms for use of feeds.

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When you hear about the outrageous accusations against Wall Street icon, now shamed, Bernard Maddoff, regarding his $50 billion Ponzi scheme and the corrupt thinking Illinois Governor Rod Blagojevich and his peddling of Obama's Senate seat, it almost makes you want to bring back the firing squad because their offenses are almost treasonous.

Are we not in the midst of a financial battle of historic proportion? If the charges against them hold true, have they not destroyed the lives of thousands of people, not to mention the integrity of both the political and financial systems at a time when our nation is in crises?

Unfortunately, as they used to quip in another time; "hanging is too good for them!"

I have another solution for them and all white collar criminals doing soft time, even if it is a long time, PUT THEM TO WORK!


Continue reading Put Maddoff and Blagojevich on work detail

Put Maddoff and Blagojevich on work detail originally appeared on BloggingStocks on Tue, 16 Dec 2008 15:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>athletic shoesAthleticShoesbernard madoffBernardMadoffJusticeNikeNKEpunishmentrod blagojevichRodBlagojevichSketcherswhite collar crimeWhiteCollarCrimeTue, 16 Dec 2008 15:15:00 EST<![CDATA[Wal-Mart brands shoplifters with scarlet 'S': 1800s return to retail?]]>http://www.bloggingstocks.com/2007/05/07/wal-mart-brands-shoplifters-with-scarlet-s-1800s-return-to-re/http://www.bloggingstocks.com/2007/05/07/wal-mart-brands-shoplifters-with-scarlet-s-1800s-return-to-re/http://www.bloggingstocks.com/2007/05/07/wal-mart-brands-shoplifters-with-scarlet-s-1800s-return-to-re/#commentsFiled under: , , ,

Nathaniel Hawthorne may be dead, but his spirit still lives on at Wal-Mart Stores, Inc. (NYSE: WMT), specifically in this store in Attalla, Alabama. You can recognize the store because it's the one with the two petty thieves out front, wearing signs around their necks: "I am a thief, I stole from Wal-Mart." The signs, ordered by a local judge (they were worn for eight hours on a couple of Saturdays) have received positive comments from shoppers, according to the store manager; signs that the 1800s are alive and well.

As William Faulkner wrote, in the south, "The past is never dead. It's not even past."

Surely the mainstream retail climate has moved past expending precious management time and justice department resources on the humiliation of those desperate individuals (or, as one of the punishees claims, victims of misunderstanding) who steal items of miniscule value. Most companies who own stores build losses into their forecasted income statement. But at Wal-Mart, the scarlet letter lives on.

Wal-Mart brands shoplifters with scarlet 'S': 1800s return to retail? originally appeared on BloggingStocks on Mon, 07 May 2007 12:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>alabamaattala alabamaAttalaAlabamaattallacrimecrime and punishmentCrimeAndPunishmenti am a thief i stole from wal-martIAmAThiefIStoleFromWal-martpunishmentscarlet letterScarletLettershopliftshopliftershopliftingstolethiefwal-martwal-mart storesWal-martStoreswalmartwmtMon, 07 May 2007 12:33:00 EST<![CDATA[CEOs spanked while kids: maybe they still should be?]]>http://www.bloggingstocks.com/2006/10/10/ceos-spanked-while-kids-maybe-they-still-should-be/http://www.bloggingstocks.com/2006/10/10/ceos-spanked-while-kids-maybe-they-still-should-be/http://www.bloggingstocks.com/2006/10/10/ceos-spanked-while-kids-maybe-they-still-should-be/#commentsFiled under: , ,

As mama to two unruly and willful little boys and possessor of a fairly good temper, I struggle with the advice from experts re: spanking. "They" say that spanking "slows mental development and hinders achievement." Naturally "they" are not saying such things while faced with a four-year-old who looks you right in the eyes and throws his Percy the tank engine toy at his baby brother's head. Anyway.

The experts are up in arms because of a statistically insignificant survey released claiming that most CEOs were spanked as children. In other news, most CEOs were raised in the 40s, 50s and 60s. File that one away in the "do you understand the relationship between cause and effect?" cabinet.

While I look hard to find the reason USA Today felt it necessary to release this bit of trivia as "news," I'm nonetheless interested in the whole topic. And I'm wondering: should we reinstate spanking for CEOs? No, not as a parenting tactic for future CEOs (my son breathes a sigh of relief), but as a measure to reign in some of the bad behavior of CEOs in the boardroom today.

If they're going to act like children, why not treat them as such? Maybe a good wooden spoon hanging over the conference table at Hewlett-Packard Company (NYSE:HPQ) might have kept Patricia Dunn from listening to that feasibility study on whether planting spies at the Wall Street Journal was a good idea. Or could it have dissuaded Steve Jobs from accepting the plan to back-date stock options at Apple Computer, Inc. (NASDAQ:AAPL)? Maybe if Sumner Redstone was afraid of a good strapping he'd reduce his salary at Viacom, Inc. (NYSE:VIA) a bit more.

It's at least worth a try!

CEOs spanked while kids: maybe they still should be? originally appeared on BloggingStocks on Tue, 10 Oct 2006 17:21:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bad behaviorBadBehaviorceoceoschief executive officerchief executivesChiefExecutiveOfficerChiefExecutiveschildhoodcorruptcorrupt ceoCorruptCeoexecutivesmanagementpunishpunishmentspankspankingTue, 10 Oct 2006 17:21:00 EST