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Bernie Madoff has died


Royale with Cheese

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3 hours ago, Royale with Cheese said:

https://apnews.com/article/bernie-madoff-dead-9d9bd8065708384e0bf0c840bd1ae711

 

It's still wild to me that he was able to swindle assets of up to $17.5 billion.  Billion with a b.

Not wild at all!  It was all fueled by greed.

 

He was telling his investors not to look too closely at how he was doing it, but that he could bring huge returns and that was all they needed to hear. 

 

Some of them were giving him like $500 million in one chunk! 

 

Greed is what this country was built on and what fuels it on a daily basis! 

 

 

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4 minutes ago, Nextmanup said:

Not wild at all!  It was all fueled by greed.

 

He was telling his investors not to look too closely at how he was doing it, but that he could bring huge returns and that was all they needed to hear. 

 

Some of them were giving him like $500 million in one chunk! 

 

Greed is what this country was built on and what fuels it on a daily basis! 

 

 

 

Was it true that Spielberg lost a few hundred million?

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7 hours ago, DrDawkinstein said:

If it makes anyone feel better for the investors, 80% of the losses from Madoff's victims have been recovered. So looks like most folks got their money back, and are continuing to do so.

 

https://www.madoffvictimfund.com/

 

 

Having a close friend involved in the restitution program, I can say the 80% is statistically accurate but the total losses involved in that number is not all-inclusive. There are many, many victims who will never get back everything, and in some cases, will get nothing at all. A very sad state of affairs created by a man who showed no remorse. When he asked to be released early due to his failing health, they asked the victims for their input on the decision and it was overwhelmingly negative. 

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