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Rot in hell 

 

NEW YORK (AP) — Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press.

Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.

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4 hours ago, lucifershammer said:

Rot in hell 

 

NEW YORK (AP) — Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press.

Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.

 

Couldn't have happened to a nicer guy.

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Madoff knew how to scam the rich, for sure.

Read The Wizard of Lies, by Diana Henriques.

 

When I read before the scandal about Madoff broke that he has a "secret system" to  made over 20% annually even in bad years, and refused to tell his investors where their money was, and that all they got was one report per year, printed on a dot matrix printer, I was sure that I wanted no part of it. But of course, I was never invited to any of his appearances. He was trusted because he had a top position in NASDAQ at one time. A few months after I read about this in a magazine, the sh*t hit the fan.

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51 minutes ago, XavierOnassis said:

Madoff knew how to scam the rich, for sure.

Read The Wizard of Lies, by Diana Henriques.

 

When I read before the scandal about Madoff broke that he has a "secret system" to  made over 20% annually even in bad years, and refused to tell his investors where their money was, and that all they got was one report per year, printed on a dot matrix printer, I was sure that I wanted no part of it. But of course, I was never invited to any of his appearances. He was trusted because he had a top position in NASDAQ at one time. A few months after I read about this in a magazine, the sh*t hit the fan.

He scammed regular people as well. A true scumbag.

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55 minutes ago, lucifershammer said:

He scammed regular people as well. A true scumbag.

Mostly, he simply waited for them to come to him. He did not advertise.  Often, he played hard to get, like he was waiting for a good home for their money.

He deserved what he got, and more.

But you had to be kind of a sucker to actually trust him with the whole shebang.

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1 hour ago, XavierOnassis said:

...the whole shebang.

 

exman...did you know the word shebang entered the English language during the Civil War meaning a shelter built from items that were scrounged.

 

 

BTW: I wonder what all of Bernie's wealth meant to him when all he saw were gray walls that needed painting...as he laid died.

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15 minutes ago, Old Mack said:

 

exman...did you know the word shebang entered the English language during the Civil War meaning a shelter built from items that were scrounged.

That sounds likely. The word itself might come from an African or Native American language.

 

 

BTW: I wonder what all of Bernie's wealth meant to him when all he saw were gray walls that needed painting...as he laid died.

They took away his wealth and gave much of it back to his victims.

 

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Maddoff was a Brooklyn street hustler from childhood.  He did go to some college but only majored in liberal arts - that should tell you he had NO BUSINESS or analytical skills whatsoever.  I believe he flunked out of law school.

 

All anyone had to do was do a brief check into Maddoff's background to know he was a huckster and a fraud. 

 

The first rule of investing: Don't ever let liberal fools who know nothing of business ever touch your money.

 

 

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19 minutes ago, Skans said:

Maddoff was a Brooklyn street hustler from childhood.  He did go to some college but only majored in liberal arts - that should tell you he had NO BUSINESS or analytical skills whatsoever.  I believe he flunked out of law school.

 

All anyone had to do was do a brief check into Maddoff's background to know he was a huckster and a fraud. 

 

The first rule of investing: Don't ever let liberal fools who know nothing of business ever touch your money.

 

 

Read  a book about him. He had credentials enough to be in charge of NASDAQ, which gave him credibility. however, the rules for investing in his hedge fund were suspicious. i would never invest in anything unless I knew immediately in what the fund was investing.

I have never invested in fewer than seven mutual funds and ETFs.

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7 minutes ago, XavierOnassis said:

Read  a book about him. He had credentials enough to be in charge of NASDAQ, which gave him credibility. however, the rules for investing in his hedge fund were suspicious. i would never invest in anything unless I knew immediately in what the fund was investing.

I have never invested in fewer than seven mutual funds and ETFs.

It doesn't take much digging for me to see that the man is not well educated in the disciplines necessary to handle lots of other people's money.  He simply has no technical expertise.  In fact, I usually find that the more credentials someone has after their name, the less they know about what they portend to be expert on. 

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