The Hoi Polloi: Madoff Scandal: As with most scams, greed a prime factor

Tuesday, December 30, 2008

Madoff Scandal: As with most scams, greed a prime factor

Granted, no one who was defrauded by Bernard Madoff's ponzi scheme deserved to be victims of his criminal acts. However, the saying goes 'anything that's too good to be true, usually isn't'. This was an investment promising consistent returns - and consistently high returns - in good times and in bad. Anyone thinking beyond trying to make an extra buck could have seen that something was amiss. Ben Stein has a great column here discussing the greed and stupidity of Madoff investors.

Dec 30, 2008 5:46:46 AM | The Bailout, or Great Depression 2.0

2 Comments

Hey!

Hope you had a great Christmas! Good to see you are blogging!

About investment...I think...why would anyone need to be suspicious of promised high ROI in good times or bad? It can always be done by The Sopranos or Ebenezer Scrooge or arms dealers! ;-)

Read about wife and I going to Bahamas!
I WON A TRIP (& more) - Click my name?

You might not have heard of Millard Fuller, but he founded Habitat for Humanity - today's his 74th. I posted a quote and I apologize if people don't like the plug. I'm excited about 2009 (Did I mention I'm going to the Bahamas?!) and at the same time moved by what Fuller is getting done.
Here's a quote & link:

For a community to be whole and healthy, it must be based on people's love and concern for each other.

http://tinyurl.com/BMW777194
Happy Birthday, Millard Fuller!

Have a wonderful (be filled with wonder!) day!

Blessings,

Charlie

Posted by: BigManWalking | Wednesday, December 31, 2008 at 22:53

Just started using that Twitter box I saw on your blog. Great stuff. Small enough and big enough and looks great. Thanks!

Posted by: BigManWalking | Wednesday, December 31, 2008 at 22:53

The comments to this entry are closed.

Memorable Political Moments of 2008: BUSTED IN ALASKA: Senator Ted Stevens Found Guilty Almost immediately prior to the November 4 elections, news on the CNN Political Ticker - Stevens verdict likely to inch Dems closer to 'magic 60' - brought to mind that great classic blues tune "What a Difference a Day Makes"....

Racial Politicking at Its Best: Blago and the Burris Appointment Despite calls for his resignation or impeachment and resistance to any Blagoevich senate appointments, Governor Blagoevich showed himself to be a master of racial politics by selecting Roland Burris to fill the senate seat formerly held by the president-elect. Similar to calls for New York Governor David Paterson to appoint a woman to replace Senator Hillary Clinton in the event of her confirmation as Secretary of State, there had been calls - although in, perhaps, slightly more hushed tones - for the appointment of an African American to replace the President-elect.