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Um, no, my comment was obviously intended to bring a whiff of reality back to the discussion. That you didn't see it that way speaks ill of you, not me.
Okay, so you either don't know much about the prison system, or you don't know much about prisoners. Fair enough.
Why do you think compassion should be showed to Madoff?
DURHAM, NC -- A source tells ABC11 Eyewitness News that disgraced financier Bernie Madoff is being treated for serious injuries after he fell out of his prison bed.
ABC11 Eyewitness News first reported that Madoff had injuries consistent with an assault. Now, the source says Madoff was not attacked in prison, but that he fell off a bed onto his face. The source said there was a lot of facial bleeding.
It also depends on the rule of law.
Thats true, but in a perfectly free marketplace, it would work because everyone would work in their best interests. Some would feel it is their best interest to sell product x. Others would want to sell product y. And because they are all working for their own benefit, the market system works. In a perfectly free market of course.
Accept for one thing. The victims didn't break any laws.
I have relatives in prison, now. One doing 100 years. Yes, I know plenty about prisoners, prisons and convicts.
I'm not sure what you're getting at.
Wow. I'm amazed at what I've been reading. An old man swindled lots of money out of people who were willing to gamble their money away in order to make lots more money. He gets put in jail and the crap beat out of him, most likely by younger stronger men. And people are cheering the fact that he is getting what he deserves? It sounds to me like money is all that matters, and a contagious classic case of class envy.
Wow. I'm amazed at what I've been reading. An old man swindled lots of money out of people who were willing to gamble their money away in order to make lots more money. He gets put in jail and the crap beat out of him, most likely by younger stronger men. And people are cheering the fact that he is getting what he deserves? It sounds to me like money is all that matters, and a contagious classic case of class envy.
I never said they did. My point, ultimately, is that they paid for their greed, just like he's paying for his.
No, it's more like there are a lot of people who are operating under the illusion that vengeance is justice.
Wow. I'm amazed at what I've been reading. An old man swindled lots of money out of people who were willing to gamble their money away in order to make lots more money. He gets put in jail and the crap beat out of him, most likely by younger stronger men. And people are cheering the fact that he is getting what he deserves? It sounds to me like money is all that matters, and a contagious classic case of class envy.
No that is not what it is. Madoff ran a ponzi scheme taking in money to pay off previous investors. It did catch up to the tune of 55 billion. The investors many that were retired with no chance of getting a job were looking to pay bills not become uber rich.
Sorry, I'm not very eloquent. I'm trying to say that in a perfect world, where the market is truly free, without any governmental interference, everyone would work for their own benefit. Without trying to, they would have positive externalities on everyone around them, positive benefits from their actions. This, plus the fact that the market would hypothetically be at equilibrium, would mean that the market would be perfect. Because everyone catered to their own needs rather to others needs.
They were very stupid then, as hedge funds are not for retired people.
Not to mention that most had enough to pay their bills as the entrance requirements to invest in hedge funds is quite high, they just didn't want to give up their lifestyle to meet the funds they had.
There were several pension funds involved in the Madeoff ponzi scheme.I,m sure that the people that were looking forward to a pension were not all stupid.
The pension fund managers certainly were, considering that retirement funds should not be invested in hedge funds.
If anything the managers should be going to jail or at the very least fired for violating their due diligence responsibilities.
1)If they didn't like it, they should have worked harder to stay out of prison. There are concequences to our actions. You break the law, you go to prison and prison sucks. Fear encourages people to do amazing things. Making prison a tea party isn't going to encourage people to stay out of prison.
2) You're talking about two totally demographics. You're comparing apples to oranges.
I agree that the hedge fund managers should be in the can taking their lumps along side Bernie. Painting the teachers and doctor's that put money in a pension fund as being stupid is using a pretty big brush, imo.
They didn't invest into it, the pension fund managers did.
I'm not going after them, I'm going after the individual investors and fund managers that recklessly handled their money and the money of other people.
Noted.:2wave:
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