Money Beat

Greedy wealthy folks who just wanted more, more and still more and who didn't care where it was coming from. Excuse while I fail to give a damn about them.

Madoff is a symptom of the greater greed and evil which our capitalist society has legitimized. No laws will prevent such a criminal from lying and taking complete advantage of otherwise good and honest people. He is as bad as Saddam Hussein, and in some respects worse; because for years he held himself out as a 'legitimate' businessman. Hussein at least had the courage to let the world know that he was willing to kill or maim his prey. This guy Madoff is a complete psychopath and has no feelings for anyone else whatsoever. In Japan, such a dishonorable act would be rectified by an act of seppuku, ie. Diseboweling yourself.

I agree, this all came about because of greed. It's hard to feel sorry for these people when most were driven by greed.

Madoff is Jewish. All is forgiven, just forget about it.

I will not hold anyone accountable for signing onto investmenting with this company to make honest gains. I will hold this scumbag accountable for the deceit hes manufactured over the years to swindle people out of their hard earned money. All of his assects should be immediately frozen and he should be taken into custody to do hard time. With the lame excuse he gave, he shouldn't be allowed legal counsel.

The legitimate wealth of many has been lost here and that will hurt everyone. These people are the benefactors and philanthropist that fund charity and educational pursuits. To howl, as if, they are all greedy and therefore, deserve it, only shows extreme ingnorance.

This is a shame that all of this wealth has been destroyed by this man.

It is disturbing that this crook was not investigated by SEC despite years of complains by observers.

What Really shows lack of outrage re Wall Street "Inside Dealing" and "Overlooking Infractions by your Own".....

Bernie Madoff "Was A DEALER REGULATOR" HEAD of National Association of Securities Dealers (NASD)... Agency that Keeps Complaints against Securities Dealers, Levied fines, and suspends or Revokes Secirities Licenses!

In reality, no wealth was destroyed at all. It was all mearely transferred from one individual to another, from the investors to Madoff, from Madoff, to earlier investors, from Madoff to his friends and family, from the earlier investors back to Madoff, and then from Madoff to newer investors, and, of course, from Madoff to businesses, of which he was a consumer.

I'd pay to watch that (seppuku)they could make back most of that money selling tickets. But I want to watch the posters above mine have to do it too- for being so purely stupid that not only do they not have NO savings OR investments, but think that anyone that does- is greedy and evil. That's practically Darwin Award level stupidity. So if the counter measure to "greedy and Soulless" selfishness is plain old fashioned stupidity...damn, we're in trouble.

(And) In Reality, No Art was destroyed, it was only transferred from one individual to anothers, from those who owned it to other new consumers...

as the the Wermacht transferred valuable art to new owners?

Feel sorry for the victims, but this sort of thing is glorified gambling and you never should risk more money than you can afford.

Then there's the question of how much of the money is recoverable and where it is hidden. I assume it's not under the world's largest mattress, but it may be devalued and/or tied in other assets.

Wow it sure does seem as if alot of jews are involved in financial scams...

Relax everyone! Some representative will push the government for this fund to have a bailout...its just too big to fail and it has several politicians as investors!

But seriously, anyone remember enron and the absolute frenzy it created in the press with the sad reports of all those shareholders loosing their savings? In the past few months we have witnesses the undeniable screwing of every citizen of this country yet the politicians responsible are still in office and in fact in charge of bailing out the companies that provided each of them campaign money to be in office in the first place.

And the press, well the press is too busy thinking of everyway in the world to distract the public that their President comes from the same background as does the bad hair Govenor of Illinois.

It is New York that needs as much of radical cleansing change as much as Washington. It will be a long time before trust in wall street and government can be restored. Mad off is just the tip of the massive iceberg of corruption, plundering and looting of investors wealth, self promotion, hypocrisy, greed, misplaced self worth, self gratification, arrogance and utter selfishness. The scary part is that Mad off maybe the first to be caught and there are several Mad offs that are yet to be found. Remember money cannot just disappear, it has to move from one pocket to another and so while the retirement savings are gone by 50%, someone has fraudulently pocketed it. To those around here trying to make it an issue of a particular religion, I would like to say crooks are not confined to any particular religion and that even though Mad off may belong to a particular religion, his greed is his own and I am sure his religion will disown him soon.

Part of me feels sorry for these folks but maybe its time some of the rich felt the fear some of us live with day to day wondering how we will meet our bills. These people just wanted to get more and more wealth , 100s of millions most gotten of the back of the little guy.

That said no one whether rich or poor deserves to lose all their money and be scammed. They are victims. Typical rich crook this Madoff was. No morality . I hope some of this money can be recovered. And maybe some of this rich folks will take another look at themselves.

What a shock you are David. This is a totally unrelated subject but you had to inject Blagojvech into it and Obama. Im from Chicago we know Obama didnt particularly like Blagojovech. But their histories are completely different and their view points. GADS get off of it. There is other news in the world and this is an important news story. !

The average American citizen who goes to work every day and is dog paddling suspected but never I think really realized how corrupt Big Business has gotten. How elite the CEOS of big corps think they are and how the American economy has taken a huge hit due to the unregulation of these industries and the greed of some people

Madoff is just another example of the deep cancer that has affected the business world. From Enron to Merrill Lynch . From AIG to Madoffs company greed , corruption and obscene amounts of money while kids go hungry in this country is bring America to its knees.

Maybe the next people we will look at is over priced sports stars which has caused the price of tickets to soar so some people can no longer afford to go to the ball parks or hockey rinks anymore

Some people say they are completely wiped out. What I don't understand is why they were invested in only one place. It's a pity that the elderly people were not given or maybe just didn't take advice to diversify. If it was simple greed, what a price to pay for an extra 3 to 5 percent.

The list of greed keeps growing!!!

This is sad, where does it end??

Scamaerica...Liers cheaters and thieves. If you don't get caught it aint no crime. Bush and Cheny do it, Republicans like Palin do it, idiots like Jesse Jackson do it. Jews are great at it until they get caught. Maybe W will give them a retroactive pardon before he leaves office...American Auto Execs do it. Teachers rape students...Priest sodomize their followers and children and walk with their heads high...IT'S SCAMERICA! Home of the free and brave where native people are massacured and Blacks enslaved and now fill the jails.
Investors are only crying over lost money...try recovery from rape, murder and blackmail...my bad...money is your GOD.

This is extremely scary if it can happen to wealthy investors, then how about working men and women whose 401(K)accounts may have money in this kind of situation. This is not good for America!!!

Scamaerica...Liers cheaters and thieves. If you don't get caught it aint no crime. Bush and Cheny do it, Republicans like Palin do it, idiots like Jesse Jackson do it. Jews are great at it until they get caught. Maybe W will give them a retroactive pardon before he leaves office...American Auto Execs do it. Teachers rape students...Priest sodomize their followers and children and walk with their heads high...IT'S SCAMERICA! Home of the free and brave where native people are massacured and Blacks enslaved and now fill the jails.
Investors are only crying over lost money...try recovery from rape, murder and blackmail...my bad...money is your GOD.

It ends when America says enough!...... I for one tell any solicitor who calls me and I can tell its from Inda , that sorry I will not buy anything from a company that has outsourced American jobs. I usually got hung up on. We can write our senators daily saying NO bonuses for CEOS on bankrupt companies. ( Look at the CEOS that were going to TAKE BONUSES untill they got pressured not to with our bailout company)

Last year I wrote to Mattel and said since you give a damn about kids safety I will not buy toys from you and I bought from Little Tykes that makes toys in Americans

We can boycott companies, write congressmen, have peaceful protests and stop reelecting people for many terms who do nothing.

We need to fight for our country back. And stop thinking three car garages are what make you happy and start making kids WORK for things when teenagers so they learn the value of hard work and money.

It ends when America says enough!...... I for one tell any solicitor who calls me and I can tell its from Inda , that sorry I will not buy anything from a company that has outsourced American jobs. I usually got hung up on. We can write our senators daily saying NO bonuses for CEOS on bankrupt companies. ( Look at the CEOS that were going to TAKE BONUSES untill they got pressured not to with our bailout company)

Last year I wrote to Mattel and said since you give a damn about kids safety I will not buy toys from you and I bought from Little Tykes that makes toys in Americans

We can boycott companies, write congressmen, have peaceful protests and stop reelecting people for many terms who do nothing.

We need to fight for our country back. And stop thinking three car garages are what make you happy and start making kids WORK for things when teenagers so they learn the value of hard work and money.

I work in the finanical industry. Basically, the thing that I take away from this is that it is important to diversify, not only among asset classes but among who you are investing with. I'm not saying you need to have accounts with both Vanguard and Fidelity or something, but never, never put all of your life savings where it is controlled by one person. Especially not when you are 75 years old. You need multiple investments and you need to know exactly what is happening to your money. "Buy and hold" does not mean stick your money any old place and forget about it. In addition, a wise investor periodically takes their gains off the table and rebalances their portfolio.
I feel terrible for the ordinary investors who were swindled by this man.