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What rate of return were Madoff followers getting vs. the schlubs who

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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 10:18 PM
Original message
What rate of return were Madoff followers getting vs. the schlubs who
weren't invited?

Did anyone stop to think something was wrong with this picture?

Yea, Madoff bankrupted a bunch of people, but if it's too good to be true, isn't it?
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Liberal_in_LA Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 10:22 PM
Response to Original message
1. They didn't want to know the truth
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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 10:31 PM
Response to Reply #1
2. Or they know they were getting a rate way over anywhere else.
And then they got hosed. Should I feel sorry for them? Really?
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notadmblnd Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 10:32 PM
Response to Original message
3. there was an article posted here yesterday
Edited on Mon Jun-29-09 10:33 PM by notadmblnd
that was saying that there was one man that benefited more than Madoff. I can't remember his name right now, but I want to say it started with a P.

Found it.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3942812
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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 11:38 PM
Response to Reply #3
4. Pickower, Ponzi?!
Why would Madoff not spill the beans?
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question everything Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 11:42 PM
Response to Original message
5. Most people do not follow finance or do not care
this is why they let others manage their finances. Worse, many did not even know about Madoff. The person or the agency that they trusted to manage their money invested with Madoff without their knowledge. And these are the ones who get screwed twice: they do not even get 500K from the government as being direct victims of fraud.

And, apparently, their statements were fraud.
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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-29-09 11:55 PM
Response to Reply #5
6. I don't think so. I wonder about some people, like Kevin Bacon.
Was he so illiterate because of this fantasy?
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