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ktc0913

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  • Madoff's Investors Don't Deserve Compensation or Sympathy [View article]
    Sympathy for the guilded lillys in the Madoff club? I think not. I may be speculating here, but I doubt there was much sympathy given by this group for all the Mr. and Mrs. John Q. Publics out there who lost their $150,000 homes to foreclosure when the housing market crashed? I heard more than a few comments about how "these types of people" should never have had a home to begin with. Zero money down home purchases were an imprudent idea, they rightly said. Well you know what? It was just as imprudent to put all your financial eggs in one greedy little basket because you thought you were so much better than the rest of us who diversified because we didn't have access to the guaranteed 15 - 20% annual returns of the Madoff majic. I had a somewhat wealthy uncle (he died in 1968) who once told me "never invest a penny in the stock market that you can't afford to lose". So if all you had was $20,000,000.00 and you invested it all with Madoff, just so you could earn a $2,000,000.00 to $4,000,000.00 per year return, well then shame on you. Welcome to the real world where people wake up and go to work every day!
    Nov 7 11:20 AM | Likes Like |Link to Comment
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