tag:blogger.com,1999:blog-7561631984395061740.post995466398971306884..comments2023-10-22T06:15:30.760-04:00Comments on Boomer Musings: Time For Another QuestionDouglashttp://www.blogger.com/profile/09752593286034877538noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-7561631984395061740.post-81972146063461543262011-02-22T20:59:39.256-05:002011-02-22T20:59:39.256-05:00No one has been taken in by a pyramid scheme? No o...No one has been taken in by a pyramid scheme? No one jumped into Multi-Level-Marketing (MLM) scheme that collapsed soon after entry? No one even suspected they were caught in one? Like Steven (and that cartoon) says, what about Social Security.Douglashttp://www.blogger.com/profile/09752593286034877538noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-26740948023692583282011-02-22T20:59:39.065-05:002011-02-22T20:59:39.065-05:00Apparently Ruth Madoff has a >$9M house in FL.....Apparently Ruth Madoff has a >$9M house in FL...Stevenhttp://www.blogger.com/profile/03579702608981127097noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-35003897563351629572009-03-18T12:04:00.000-04:002009-03-18T12:04:00.000-04:00Steven - She could have 5443 more houses of that p...Steven - She could have 5443 more houses of that price with the missing $49 Billion.Douglashttps://www.blogger.com/profile/09752593286034877538noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-69273217012158867272009-03-18T10:08:00.000-04:002009-03-18T10:08:00.000-04:00Apparently Ruth Madoff has a >$9M house in FL.....Apparently Ruth Madoff has a >$9M house in FL...Stevenhttps://www.blogger.com/profile/03579702608981127097noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-49944962923994232532009-03-16T18:46:00.000-04:002009-03-16T18:46:00.000-04:00No one has been taken in by a pyramid scheme? No o...No one has been taken in by a pyramid scheme? No one jumped into Multi-Level-Marketing (MLM) scheme that collapsed soon after entry? No one even suspected they were caught in one? Like Steven (and that cartoon) says, what about Social Security.Douglashttps://www.blogger.com/profile/09752593286034877538noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-87102359753165545512009-03-16T18:42:00.000-04:002009-03-16T18:42:00.000-04:00Log - 1)Your comment reminded me of my ex-wife. Sh...Log - 1)Your comment reminded me of my ex-wife. She would wait until the Final Notice letters would arrive before paying bills. Since I am of the mindset that says pay it as you get it, this caused no end of arguments. Her excuse was "it is standard business practice." 2)Greed has a way of blinding one's suspicious mind. 3) The SEC supposedly ran a cursory investigation on his company back in the 1990s and found no problems. A matter of clever bookkeeping, perhaps?<BR/><BR/>Steven - Yes, I thought you had stated your position well, the cartoon was primarily for your benefit. Maybe it went overseas and maybe a lot was lost on poor/risky investments but we are talking about $49 Billion! Some $5 Billion a year! More if we take Jonathan's figure of $65 Billion.<BR/><BR/>Jonathan - I am too much of a cynic to accept that theory. Could you toss Cesar Chavez into that mix?Douglashttps://www.blogger.com/profile/09752593286034877538noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-15932233552386730232009-03-16T15:05:00.000-04:002009-03-16T15:05:00.000-04:00Bernie is claiming that he acted entirely alone. ...Bernie is claiming that he acted entirely alone. He is, of course, lying. If he told the whole truth we could find more of the money, but he wouldn't live very long. That kind of money attracts some nasty characters, $65 billion would make a drug lord drool, that is the brand of people old Bernie was dealing with. "...The love of money is the root of all evil." a wise man once said.Jonathan Berthttps://www.blogger.com/profile/15795421410291077161noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-14212344651648243422009-03-16T11:11:00.000-04:002009-03-16T11:11:00.000-04:00a) see my last commentb) I'm guessing there's a lo...a) see my last comment<BR/><BR/>b) I'm guessing there's a lot overseas, and a lot was lost on his own risky investments.Stevenhttps://www.blogger.com/profile/03579702608981127097noreply@blogger.comtag:blogger.com,1999:blog-7561631984395061740.post-89659183312303701802009-03-15T23:51:00.000-04:002009-03-15T23:51:00.000-04:00I'm having a little difficulty analyzing the Madof...I'm having a little difficulty analyzing the Madoff situation for several reasons. First many legitimate businesses function like Ponzi schemes, especially those who have a significant lag between doing the work and getting paid. We cash it cash flow. Large corporations in particular jack you around on getting paid on time and thus the smaller clients frequently have to contribute to your overhead.<BR/><BR/>Number two, the investors must have realized that there was high risk, since this guy was promising yields way behind his competitors. <BR/><BR/>Finally, number three, I am not clear as to whether the alleged "misrepresentation" had to do with the returns, the mechanism for achieving the returns, or the actual investments, if any there were. If he was not investing the money, and simply collecting it and then getting new customers, then arguably that was a fraud. I haven't examined the details close enough, and I'm not quite sure that the authorities have really disclosed them for obvious purposes.Inspector Clouseauhttps://www.blogger.com/profile/09373932797333038561noreply@blogger.com