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Finance Arrogance

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Finance Arrogance

Post  Wilkesandliberty on Tue Dec 16, 2008 12:08 am


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Re: Finance Arrogance

Post  Liz on Fri Dec 19, 2008 9:28 am

Who is this, Matt?

I'm sure I should recognize him :(

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Re: Finance Arrogance

Post  Wilkesandliberty on Fri Dec 19, 2008 5:03 pm

Basically frauded millions from the global banking system.

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Re: Finance Arrogance

Post  Liz on Fri Dec 19, 2008 7:02 pm

Name?

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Re: Finance Arrogance

Post  Wilkesandliberty on Fri Dec 19, 2008 7:24 pm

Liz wrote:Name?


Does it matter....Madoff or something.

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Re: Finance Arrogance

Post  Liz on Fri Dec 19, 2008 8:13 pm

Of course.

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Re: Finance Arrogance

Post  itskristina on Wed Dec 24, 2008 1:23 am

The more I read about it, the more I become absolutely dumbstruck with what he got away with for so long.

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Re: Finance Arrogance

Post  Rocky on Wed Dec 24, 2008 11:48 am

I think he lasted longer than other Ponzi/Pyramid schemers because he delivered relatively modest growth (10-15% p.a. I think), delaying the unavoidable cash flow problem. Earlier ones have promised and initially delivered astronomical short term profits everyone with a brain should know is too good to be true. Questions were asked though. He donated money to some of the top dogs (Senator Schumer etc.) so that might be why the authorities gave him a break.

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