I'm lucky enough to work very close to the townhouse on 64th Street where money And while we wait for him to get what he deserves, his victims (including Kevin Bacon, Uma Thurman, and my hometown) have had their faces put together in a fun slideshow which details how much each investor lost. When you've had a bad day, just imagine how it feels to lose 7 billion dollars.
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interesting side note...some who initially thought they were victims actually figured out they had broken even or made money over the years if they had invested early enough and withdrawn money...but now may have to pay out to others who weren't so lucky.
It's kind of impressive actually. A 50 billion $ ponzi scheme? Gotta pop my collar to a true hustler.
bigger deal than the weirdo who managed the Backstreet Boys...
shows how word of mouth is everything...
somehow I just can't get all worked up about these guys losing such vast sums of money .. I mean c'mon .. if you have that kind of money why be greedy and try and make more ? .. when is enough enough ? .. (oh .. we covered that over on the forum) ...
Well, some were retirement funds that invested with him...
some were celebs whose managers talked them into it...
some were very wealthy people who also are incredible philanthropists--the more you make on your investments, the more you can afford to give away to universities and various charities...
I can see allowing your money to grow so that you can do more with it...but if the returns sound too good to be true, then they are. Although after reading his history and how firmly entrenched he was in Wall Street and power circles for decades, it is perfectly understandable that they trusted him and his firm.
In the future, Bernie will be remembered forever as "The Legendary Bernard Madoff" because he madoff with more gelt than any con artist in the history of the world.