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Madoff Sentenced to 150 Years

Hedge funds are lightly regulated precisely because there is great amount of assumed risk involved with them.
That is why they have income and minimum net worth requirements.

If the money was invested by an agent of the investor that person is liable for damages because they haven't done their due diligence with investing others money.



If someone is ruined because of one investment faltering, they at least have a large chunk of their money invested.

Hedge funds are risky, there is a For Dummies guide that costs about $20 that could have explained everything they needed to know about investing with them.

I'm sure the firemen and police in Colorado would love to have a copy of the Dummie book, since they had 60 million dollars of their pension money invested there.

Explain exactly what a funds manager could have done to know that Madoff was a crook???
 
That is all fine and good as long as the guy runing it is not running a ponzi scheme.

It's all good now though, he's going to jail.
I just don't have that much sympathy for the investors who put all or most of their money in this, they did something very, very stupid.
 
It's all good now though, he's going to jail.
I just don't have that much sympathy for the investors who put all or most of their money in this, they did something very, very stupid.

Had Madoff been honest I'm sure they would have pulled their money.
 
I'm sure the firemen and police in Colorado would love to have a copy of the Dummie book, since they had 60 million dollars of their pension money invested there.

The person who decided to invest retirement money in a hedge fund should be fired. That is just not ethical for them to do that.

Hedge funds are play things for people with too much money, they are not for institutions to invest retirement funds into.

Explain exactly what a funds manager could have done to know that Madoff was a crook???

I'm not sure, but one thing I know is that you don't invest money you don't want to loose.

There are no guarantees in life, nothing is safe in the investing world.
 
Had Madoff been honest I'm sure they would have pulled their money.

His honesty doesn't matter, as an individual investor I know that I should not put all or most of my money into one thing unless I'm prepared to loose it.

Diversifying will protect you from large losses.
A legitimate investment could fall tomorrow and wipe out someones life savings.
 
I'm not sure, but one thing I know is that you don't invest money you don't want to loose.

There are no guarantees in life, nothing is safe in the investing world.

That philosophy sure didn't help the people that invested in GM corporate bonds did it??

They were told their money was as safe as a baby in his mother's arms, but Obama screwed them out of their money didn't he?
 
I'm not sure, but one thing I know is that you don't invest money you don't want to loose.

There are no guarantees in life, nothing is safe in the investing world.

So people should not invest for their retirement? You have gone from blaming the victim, to saying some even more outrageous stuff.
 
That philosophy sure didn't help the people that invested in GM corporate bonds did it??

They were told their money was as safe as a baby in his mother's arms, but Obama screwed them out of their money didn't he?

That is the way the cookie crumbles sometimes, although I think the pres usurped bankruptcy law in doing what he did.

I don't think what he did was legal either.

So people should not invest for their retirement? You have gone from blaming the victim, to saying some even more outrageous stuff.

I didn't say that, lets make this very clear.

Hedge funds are not for retirement funds.

Do you know how hedge funds earn their money?
 
So you don't mind your tax money going to non-violent life sentences over people who are actually threats to society?

Depends on the crime. Saying that non-violent crimes in some cases cannot be as damaging or more damaging then violent crimes would be inaccurate.
 
Hedge funds are lightly regulated precisely because there is great amount of assumed risk involved with them.
That is why they have income and minimum net worth requirements.

If the money was invested by an agent of the investor that person is liable for damages because they haven't done their due diligence with investing others money.



If someone is ruined because of one investment faltering, they at least have a large chunk of their money invested.

Hedge funds are risky, there is a For Dummies guide that costs about $20 that could have explained everything they needed to know about investing with them.

Regardless, the government had to make a statement, to the world, that this will not be tolerated. He provided no additional information about the scheme, which could help find any remaining assets. Without a doubt, there is money tucked away in different places, as he was doing this for decades.

IMHO, they should have hung him....
 
I didn't say that, lets make this very clear.

Hedge funds are not for retirement funds.

Do you know how hedge funds earn their money?

You actually have been blaming the victims. You have done it repeatedly in fact.
 
Regardless, the government had to make a statement, to the world, that this will not be tolerated. He provided no additional information about the scheme, which could help find any remaining assets. Without a doubt, there is money tucked away in different places, as he was doing this for decades.

IMHO, they should have hung him....

I understand, I just wanted to slow the stroking of wealth envy that would eventually poke its head out.
 
I understand, I just wanted to slow the stroking of wealth envy that would eventually poke its head out.

True.

Do you believe he deserved to die instead of life in prison?
 
I understand, I just wanted to slow the stroking of wealth envy that would eventually poke its head out.

Are you really going to do stuff like this? What does any of this have to do with wealth envy? A criminal who took advantage of thousands of people is going to prison for the rest of his life, like he should. Wealthy envy does not even enter into it.

Are you one of those people who tries to turn everything into a discussion of your pet peaves?
 
You actually have been blaming the victims. You have done it repeatedly in fact.

What Madoff did was wrong, without a doubt.

With that said, you should not put all your money into extremely risky investments and expect me to feel sorry if or when you loose it all.

They are victims of Madoff and their own stupidity.
 
True.

Do you believe he deserved to die instead of life in prison?

I don't believe in the death penalty.

Life in a regular prison would be preferable over the death penalty.

Are you really going to do stuff like this? What does any of this have to do with wealth envy? A criminal who took advantage of thousands of people is going to prison for the rest of his life, like he should. Wealthy envy does not even enter into it.

Are you one of those people who tries to turn everything into a discussion of your pet peaves?

There are a fair amount of people who like to turn stuff like this into, "I hate the rich".

I didn't even address that to you, in fact I said the wealthy people who got scammed earned it, mostly by their own stupidity.
 
What Madoff did was wrong, without a doubt.

With that said, you should not put all your money into extremely risky investments and expect me to feel sorry if or when you loose it all.

They are victims of Madoff and their own stupidity.

Some of them are quite bright actually. Here is a funny thing, some people know alot about some issues, but not as much about others. When forced to deal in issues which they now less about, they are easy victims of criminals like Madoff.
 
There are a fair amount of people who like to turn stuff like this into, "I hate the rich".

I didn't even address that to you, in fact I said the wealthy people who got scammed earned it, mostly by their own stupidity.

I don't see where that has happened much in this thread. I do see you bitching about people who hate the rich. I do see you blaming the victims.
 
I recently saw a film piece where he was sitting in a room with a bunch of people and he was making a point that in today's market it is nearly impossible to defraud anyone out of the money. He appeared as sincere as you grandpa. First Enron now this guy. I think I'll start selling shoe boxes door-to-door.
 
Some of them are quite bright actually. Here is a funny thing, some people know alot about some issues, but not as much about others. When forced to deal in issues which they now less about, they are easy victims of criminals like Madoff.

How reasonable and bright is it to give someone your life saving without at first getting several opinions?

[ame=http://www.amazon.com/High-Powered-Investing-Dummies-Business-Personal/dp/0470186267/ref=pd_sim_b_31]Amazon.com: High-Powered Investing All-In-One For Dummies (For Dummies (Business & Personal Finance)): Amine Bouchentouf, Brian Dolan, Joe Duarte MD, Mark Galant, Ann C. Logue MBA, Paul Mladjenovic, Kerry Pechter, Barbara Rockefeller, Peter J. Sander[/ame]

That inexpensive book could have saved them a lot of heart ache.

I don't see where that has happened much in this thread. I do see you bitching about people who hate the rich. I do see you blaming the victims.

An ounce of prevention is worth a pound of cure.
 
I don't believe in the death penalty.

Life in a regular prison would be preferable over the death penalty.

Even if he admitted to it? I mean, there is no chance they have the wrong guy, and madoff was not responsible...:2razz:
 
Even if he admitted to it? I mean, there is no chance they have the wrong guy, and madoff was not responsible...:2razz:

hmm, well I have problems with state sanctioned killing.
Not that I'm a pacifist, I'm not comfortable with it because its been used in the past for political, non criminal purposes.
 
Out of %13 billion he stole only about $1 billion has been retrieved.

The judge said he didn't think Madoff was being forthcoming about what happened to all the money.

Maybe a sentence of 150 years in prison might make him more cooperative.
 
I thought it was in the neighborhood of $60 billion.
 
How reasonable and bright is it to give someone your life saving without at first getting several opinions?

And how do you know that they did not get several opinions???

Madoff fooled a lot of very intelligent financial people.
 
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