If Bernie Madoff, former chariman of the NASDAQ, can steal $50 billion - is anyone safe???
Answers
731 points
thinker70 answered one year ago …
In a word, NO, there is no safety for anyone until we retore an honest monetary system based on intrinsic value such as gold and silver that have retained their purchasing power for over 5000 yers of recorded history! The second, or maybe the first thing that needs to happen is that we need to vote OUT of OFFICE any politicians, CHARGE CEO;s of any corporations that have any hint of malfeasance and actions against the public interest White collar crime needs to be severely and resolutely prosecuted and the ill gotten millions restored to shareholders of public corporations.
The ironic part (IMO) is that what we are experiencing in our economic meltdown is just another not yet exposed PONZI scheme, it is called called "the fractional reserve banking system" and our bankster friends have basically set up the ultimate and continuing pyramid by their ABUSE of lending standards and failed regulation. There are dozens of culprits every bit as venal as Bernie Madoff, he just made the mistake of getting caught!
2224 points
readytoretire answered one year ago …
It depends on you. Are you willing to take someones word that they are honest, or are you the type that wants to be sure. There were questions about his firm for years, what with him managing to hit 8% return for years, over the wild ride of the past years. And there was the issue of the small firm that he had for an accountant/auditor. That firm was way too small for a firm with 17B in assets.
There are numerous stories of stars who trusted someone explicitly and found out later that they had been taken. The rule is if you can understand how they make money ( this includes those who won't tell you how they do it), stay away. They might be legit, but could just as easily be crooked.
