Actually it was endorsed and given the highest ratings by some of the countries top investment firms and it had also been investigated and cleard by the SEC. It was considered one of the best investments in the US and because of its excellent ratings, deemed low risk.
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Intellectuals??? They thought they were insiders - the knew the returns were too good to be true.
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The post is not an untold secret. The poster is even dumber than the "victims" he complains about.
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How do you know it's not an untold secret? Because it doesn't meet your high standards? What an asshole!
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What did Madoff do, that the bankers at Stearns,Leman,AIG,did to the rest of us?I don't read about any of these crooks faceing jail time.They both ran an elaborate smoke and mirror pyramid scheme.
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I kinda feel the same way. I have my retirement funds in a fairly safe investment account and I took a hit with the stocks bottoming out. I think it was all about greed. Instead of being happy with 3 or 4 percent returns, the idea of quick easy money was too much of a draw. You NEVER get something for nothing. Although, I do feel bad for those who have nothing now. And Madoff's b**** wife better not get so much as a dessert plate from anything they own.
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The promises were too good to be true and the greed of the investors took hold. Madoff is a crook but it's hard to feel sorry for the greed in the investors who wanted to beat the odds. Madoff did not run the Largest Ponzi scam in reality that title goes to the social security system.
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Our whole Financial system is a Pyramid Scheme.
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Isn't that what Obama is doing to us(and I mean the tax payers not the welfare recipients)?
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Well, there were some true victims; like the smaller investors, but like you say, a lot of these rich people were just plain greedy. There is something almost biblical about their punishment!
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