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Hedge funds are lightly regulated precisely because there is great amount of assumed risk involved with them.
That is why they have income and minimum net worth requirements.
If the money was invested by an agent of the investor that person is liable for damages because they haven't done their due diligence with investing others money.
If someone is ruined because of one investment faltering, they at least have a large chunk of their money invested.
Hedge funds are risky, there is a For Dummies guide that costs about $20 that could have explained everything they needed to know about investing with them.
That is all fine and good as long as the guy runing it is not running a ponzi scheme.
It's all good now though, he's going to jail.
I just don't have that much sympathy for the investors who put all or most of their money in this, they did something very, very stupid.
I'm sure the firemen and police in Colorado would love to have a copy of the Dummie book, since they had 60 million dollars of their pension money invested there.
Explain exactly what a funds manager could have done to know that Madoff was a crook???
Had Madoff been honest I'm sure they would have pulled their money.
I'm not sure, but one thing I know is that you don't invest money you don't want to loose.
There are no guarantees in life, nothing is safe in the investing world.
I'm not sure, but one thing I know is that you don't invest money you don't want to loose.
There are no guarantees in life, nothing is safe in the investing world.
That philosophy sure didn't help the people that invested in GM corporate bonds did it??
They were told their money was as safe as a baby in his mother's arms, but Obama screwed them out of their money didn't he?
So people should not invest for their retirement? You have gone from blaming the victim, to saying some even more outrageous stuff.
So you don't mind your tax money going to non-violent life sentences over people who are actually threats to society?
Hedge funds are lightly regulated precisely because there is great amount of assumed risk involved with them.
That is why they have income and minimum net worth requirements.
If the money was invested by an agent of the investor that person is liable for damages because they haven't done their due diligence with investing others money.
If someone is ruined because of one investment faltering, they at least have a large chunk of their money invested.
Hedge funds are risky, there is a For Dummies guide that costs about $20 that could have explained everything they needed to know about investing with them.
I didn't say that, lets make this very clear.
Hedge funds are not for retirement funds.
Do you know how hedge funds earn their money?
Regardless, the government had to make a statement, to the world, that this will not be tolerated. He provided no additional information about the scheme, which could help find any remaining assets. Without a doubt, there is money tucked away in different places, as he was doing this for decades.
IMHO, they should have hung him....
I understand, I just wanted to slow the stroking of wealth envy that would eventually poke its head out.
I understand, I just wanted to slow the stroking of wealth envy that would eventually poke its head out.
You actually have been blaming the victims. You have done it repeatedly in fact.
True.
Do you believe he deserved to die instead of life in prison?
Are you really going to do stuff like this? What does any of this have to do with wealth envy? A criminal who took advantage of thousands of people is going to prison for the rest of his life, like he should. Wealthy envy does not even enter into it.
Are you one of those people who tries to turn everything into a discussion of your pet peaves?
What Madoff did was wrong, without a doubt.
With that said, you should not put all your money into extremely risky investments and expect me to feel sorry if or when you loose it all.
They are victims of Madoff and their own stupidity.
There are a fair amount of people who like to turn stuff like this into, "I hate the rich".
I didn't even address that to you, in fact I said the wealthy people who got scammed earned it, mostly by their own stupidity.
Some of them are quite bright actually. Here is a funny thing, some people know alot about some issues, but not as much about others. When forced to deal in issues which they now less about, they are easy victims of criminals like Madoff.
I don't see where that has happened much in this thread. I do see you bitching about people who hate the rich. I do see you blaming the victims.
I don't believe in the death penalty.
Life in a regular prison would be preferable over the death penalty.
Even if he admitted to it? I mean, there is no chance they have the wrong guy, and madoff was not responsible...:2razz:
How reasonable and bright is it to give someone your life saving without at first getting several opinions?
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