Ponzi Scheme

-
Bernard L. Madoff is accused of conning his investors out of about $50 billion. Many of these investors were very savvy rich people and other financial industry organizations who were bright enough to realize that the rates of return his group paid were completely unrealistic. They should have remembered the advice, “If it looks too good to be true, then it probably is.” No doubt an overwhelming majority of these wealthy investors considered themselves to be Republicans.

Apparently lots of people invested every penny they had with this crook. So now they have lost everything. Imagine how devastating that would be…one day you are comfortable, maybe even wealthy, and the next day you have nothing at all. As my father who was 15 years old in 1929 and was profoundly affected by the great depression used to say, “Not even a pot to pee in.”

One thing all these people had in common was greed. And faith. Maybe a belief in fairy tales too.

It really is unfortunate that these people have lost so much money.

But I’ll bet that this event doesn’t do anything to help these right wingers have more compassion for working people who lose these houses, or more compassion and understanding for folks who cannot get or cannot afford health insurance.

So you might suggest that these people are both greedy and totally self-centered. Maybe this incident will help the character development of these selfish, egotistical creeps.
-
-
-
-
-
-
-
-
-
-
-