Fla Dem
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Sun Feb-08-09 01:01 PM
Response to Reply #8 |
| 57. Not everyone is savvy when it come to investing. Especially the elderly. |
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I am sure someone, a friend, relative, or investment counselor told him this was a good investment. And yes investing is a risk, but given the Madoff track record, which we all know NOW was a bunch of crap, I am sure he felt he was doing the right thing. $700,000 while a goodly sum was all this man had. He probably thought he would place it somewhere where it would be safe and would be there if he needed it for medical expenses or living expenses. The elderly are particularly vulnerable to scams. I don't think everyone who invests does so for greed only. They invest with the hope that their investment at least keeps up with the cost of living so in their later years, when they can no longer work, they will be able to keep a roof over their heads, get medical care and buy groceries. And maybe, just maybe take a trip, buy a car and have enough to bury them. Were we all as smart as you, there would never be any profit for scammers.
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| -Madoff Victim, 90, Returns To Work for $10 an hour |
Amerigo Vespucci |
Feb-07-09 08:51 PM |
#0 |
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Meanwhile Madoff sits at home in his multi-million dollar Manhattan home |
Earth_First |
Feb-07-09 08:54 PM |
#1 |
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I think that's one of the things that makes me |
cornermouse |
Feb-08-09 05:58 AM |
#36 |
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It's disgusting!!! And NYers should be working to get the judge impeached who allowed this! |
rvablue |
Feb-08-09 01:05 PM |
#58 |
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I can't believe that judge allowed him out on bail |
fujiyama |
Feb-09-09 01:50 AM |
#65 |
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Madoff should face the death penalty |
BeyondGeography |
Feb-07-09 08:55 PM |
#2 |
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Is there $500K SIPC insurance coverage available to each defrauded investor? (nt) |
John1956PA |
Feb-07-09 08:56 PM |
#3 |
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Yes. WHEN, is the question. |
Fire1 |
Feb-07-09 09:31 PM |
#15 |
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Up to $500,000 |
Baby Snooks |
Feb-08-09 05:14 AM |
#32 |
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this guy was invested for 25 years - has been receiving approx |
UpInArms |
Feb-08-09 10:07 AM |
#45 |
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How are his gains "ill-gotten"?? |
Fran Kubelik |
Feb-08-09 12:41 PM |
#56 |
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because if he got paid money that was illegally obtained |
UpInArms |
Feb-08-09 06:03 PM |
#60 |
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All con-games ar based on trust, which the con-artist manipulates.I can't imagine any of his victims |
Hekate |
Feb-09-09 03:09 AM |
#68 |
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What a horrible piece of shit (Madoff). |
Believing Is Art |
Feb-07-09 09:00 PM |
#4 |
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Madoff should be in prison so why isn't he? |
bridgit |
Feb-07-09 09:01 PM |
#5 |
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Quite obviously you don't make enough money to understand why... |
Earth_First |
Feb-07-09 09:03 PM |
#6 |
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He is getting paid $10 an hour for that? |
arcadian |
Feb-07-09 09:04 PM |
#7 |
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Greeting people, handing them shopping carts, |
Warpy |
Feb-07-09 09:25 PM |
#13 |
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It could depend where |
fujiyama |
Feb-09-09 01:51 AM |
#66 |
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Where I live in California, a study showed that minimum wage *should* be $12-15 an hour... |
Hekate |
Feb-09-09 02:06 AM |
#67 |
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Madoff being an asshole asside, WHO TOLD THESE RETARDS TO INVEST ALL THEIR NET WORTH? |
Idealism |
Feb-07-09 09:05 PM |
#8 |
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agree, except I wish you'd used a different word than "retard" |
spooky3 |
Feb-08-09 11:52 AM |
#47 |
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Mahalo (thank you) |
KamaAina |
Feb-10-09 06:08 PM |
#75 |
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Human nature. Doesn't stop people from using cards or cheating on the ones they claim to love either |
Deja Q |
Feb-08-09 11:56 AM |
#49 |
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Not everyone is savvy when it come to investing. Especially the elderly. |
Fla Dem |
Feb-08-09 01:01 PM |
#57 |
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You are absolutely right. But you will get crucified for having no compassion and being wise by |
1Hippiechick |
Feb-10-09 05:46 PM |
#71 |
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Sell everything Madoff owns and split the total among his victims |
Fleshdancer |
Feb-07-09 09:07 PM |
#9 |
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My thought as well. |
ZombieHorde |
Feb-07-09 09:09 PM |
#11 |
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OMG... |
blonndee |
Feb-07-09 09:07 PM |
#10 |
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cruel |
NJCher |
Feb-07-09 09:23 PM |
#12 |
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In Michigan, he'd be crushed in the crowds lining up for a $10/hr job. |
Bozita |
Feb-07-09 09:29 PM |
#14 |
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In Ohio too. $10/hr door greeter jobs are non-existent. Hell, $10/hr. jobs of ANY KIND |
Doremus |
Feb-07-09 10:01 PM |
#22 |
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Sucks to be him. But why wasn't $738,000 enough for Ian Thiermann? |
scarletwoman |
Feb-07-09 09:39 PM |
#16 |
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Maybe he wanted... |
Davis_X_Machina |
Feb-07-09 09:42 PM |
#18 |
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Then he should have saved his money, not gambled it on the stock market. |
scarletwoman |
Feb-07-09 09:50 PM |
#19 |
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I've got a 403(b)... |
Davis_X_Machina |
Feb-07-09 09:52 PM |
#20 |
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I've no idea what a 403(b) is. My participation in capitalism is confined to earning a modest wage, |
scarletwoman |
Feb-07-09 10:27 PM |
#23 |
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With those qualifications, who could possibly hope to disagree? |
BlooInBloo |
Feb-07-09 10:40 PM |
#27 |
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Who, indeed. |
scarletwoman |
Feb-07-09 10:55 PM |
#30 |
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I envy you, SW. |
Le Taz Hot |
Feb-08-09 09:19 AM |
#43 |
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I wish you all the best. This seems like a really bad time to be in California, I sure hope you |
scarletwoman |
Feb-08-09 02:17 PM |
#59 |
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so do I |
spooky3 |
Feb-08-09 11:55 AM |
#48 |
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How compassionate |
HarukaTheTrophyWife |
Feb-07-09 10:38 PM |
#25 |
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I do feel sorry for him, he's just another sucker who thought he could have money for nothing. nt |
scarletwoman |
Feb-07-09 10:53 PM |
#29 |
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I call bullshit on your sanctimony |
Dreamer Tatum |
Feb-08-09 12:12 PM |
#52 |
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But he didn't lose that money because of the stock market |
rockymountaindem |
Feb-07-09 10:40 PM |
#26 |
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And the stock market ISN'T a scam? He gambled, he lost. (nt) |
scarletwoman |
Feb-07-09 10:50 PM |
#28 |
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The stock market is definitely a gamble. |
KillCapitalism |
Feb-08-09 05:35 AM |
#34 |
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No, the stock market isn't a scam |
rockymountaindem |
Feb-08-09 09:31 AM |
#44 |
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For many small-time investors, the stock market is a scam |
brentspeak |
Feb-10-09 05:59 PM |
#74 |
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My thought too. At his age his money should have been somewhere safe, |
Doremus |
Feb-07-09 09:55 PM |
#21 |
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Diversify diversify Diversify |
exboyfil |
Feb-08-09 04:57 AM |
#31 |
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Greed? |
Baby Snooks |
Feb-08-09 05:33 AM |
#33 |
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At age 90 with $738k? Absolutely greed, imo. |
1Hippiechick |
Feb-08-09 07:23 AM |
#39 |
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seriously? |
Fran Kubelik |
Feb-08-09 12:39 PM |
#54 |
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I would think absolutely that the reasons you listed are exactly how he did accumulate his wealth. |
1Hippiechick |
Feb-08-09 07:26 PM |
#61 |
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But you don't put your money in your mattress. |
Fran Kubelik |
Feb-10-09 12:35 PM |
#70 |
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Pick up a Money magazine or many others on the market. There are guidelines of how one should |
1Hippiechick |
Feb-10-09 05:56 PM |
#73 |
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Thank you for one of the FEW intelligent posts on here. n/t |
1Hippiechick |
Feb-10-09 05:46 PM |
#72 |
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Madoff should have to sell every single one of his assets... |
liberalmuse |
Feb-07-09 09:39 PM |
#17 |
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George Will: This is the free market at work. |
BlooInBloo |
Feb-07-09 10:33 PM |
#24 |
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Nice way to 'work'. Not exactly an 'honest living'. |
Deja Q |
Feb-08-09 11:57 AM |
#50 |
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There are lots of stories like this |
DFW |
Feb-08-09 05:48 AM |
#35 |
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My mom just told me this story today. |
Starry Messenger |
Feb-08-09 06:46 AM |
#37 |
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Glad the town is helping out. |
Liberal_in_LA |
Feb-08-09 09:04 AM |
#42 |
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"Thiemann said he has lost all of his $738,000." At 90, the price of his own greed, imo |
1Hippiechick |
Feb-08-09 07:21 AM |
#38 |
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website regarding financial planning - |
1Hippiechick |
Feb-08-09 08:05 AM |
#40 |
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Worth $738,000 and he still had house payments, why didn't he at least payoff the mortgage? Greed. |
FreeStateDemocrat |
Feb-08-09 08:17 AM |
#41 |
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Bingo. n/t |
1Hippiechick |
Feb-08-09 07:31 PM |
#62 |
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Jesus fucking christ - it's not like he was the victim of a crime or anything. |
varkam |
Feb-08-09 10:20 AM |
#46 |
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Because it feels good, are the devil's advocates, or have a pespective at least worth mentioning. |
Deja Q |
Feb-08-09 11:58 AM |
#51 |
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Because they see a 90-year-old man having the nerve to live like a 40-year-old man |
Dreamer Tatum |
Feb-08-09 12:19 PM |
#53 |
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I doubt the victims are going to get their money back. |
varkam |
Feb-08-09 12:39 PM |
#55 |
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Sorry. There are all kinds of resources identifying that as one APPROACHES retirement age, their |
1Hippiechick |
Feb-08-09 07:38 PM |
#63 |
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Incredible, the financial wisdom here on DU |
Dreamer Tatum |
Feb-09-09 12:20 AM |
#64 |
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Only surpassed by the amount of compassion.... |
Behind the Aegis |
Feb-09-09 03:55 AM |
#69 |
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