Comments on: Bernie Madoff’s Ponzi scheme

By: Tameika

Tameika — Tue, 23 Dec 2008 19:08:18 +0000

I couldn’t agree more with everyone. If something is too good to be true…well you know the rest. I do feel for them as well, but I gotta go back to personal responsibility. Only positive returns (most in the double digit range)? No one is that good. Being unable to comprehend the statements issued by your investor? A sure sign that everything is not on the up and up. The secrecy. The “limited” enrollments. Come on! Are we in high school? Greed surely go the best of most and willful ignorance scored the rest.
But if with the fault of these investors (and greed no doubt), I do have to say that the SEC screwed up big time. Something this sheisty should have been seen by the group. I know they can’t catch everything, but with all the information coming out this seems like some good ole boy back patting let this go one too long. But even so, we invest knowing that nothing is guaranteed. I’m still in the game and hoping to remain afloat in these turbulent times. I still believe in our system despite its flaws. I just hope that we can learn from others’ mistakes and misfortunes and be more vigilant with our finances.
Keep the great posts coming Natalie!

By: useful forex trading system

useful forex trading system — Tue, 23 Dec 2008 17:30:51 +0000

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By: PJD

PJD — Tue, 23 Dec 2008 15:26:20 +0000

A scam artist can come in any package so I am not really surprised by his behavior. They all appear to be a little greedy which is why they are all in this situation. Everyone wants to get rich fast but it usually doesn’t happen so quickly….what were they thinking? And why would some of them invest all that they had? One woman lost her entire savings…..

By: Coco

Coco — Tue, 23 Dec 2008 14:43:11 +0000

I had to look up the word Ponzi when this story broke. A familiar racket – they call that a pyramid where I’m from.
I think the victims’ greed clouded their judgement. The moment anyone wanting to invest my money uses the word “network” we’re done talking.

By: savvy

savvy — Tue, 23 Dec 2008 13:00:21 +0000

I think it was a combination of all of the above. A person should be leary of any fund that regularly returns 15%+. Also, the secretiveness (is that a word?) should have been a red flag. I feel sorry for the people involved but it could have been avoided.