This is clearly a reason greed is not that good.
Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
bloomberg.com
Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
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Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#2Those who are very greedy should read that.
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#3It makes me wonder if he is pleading guilty to a ponzi scheme to hide something more criminal... I mean, taking investors' money and putting it in a bank is the least wrong you can do - you could just downright spend it, or use it in all manner of ways that could be off record and hidden by a 'fake split strike conversion' strategy.
Who knows, he may have been this close to curing cancer before investigators came in...
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#4I find it completely unbelievable at this point that one man could execute a fraud on this scale for some 15 years or more.
Just producing the paperwork that was sent to each investor on a monthly basis would be more than a full time job. Add to that the lengthy SEC filings, etc.
And he was not working full time - he spent a lot of time schmoozing either in NYC or Palm Beach.
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#5Looks to me he is a honestly sad man.
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#6Those who are very greedy should read that.
Madoff is going to spend the rest of his life broke and in jail. For someone as rich as he was, he didn't live that swanky a lifestyle, and gave a lot to charity. Meanwhile, fantastically greedy people like Buffett and Gates are still out of jail and enjoying what they do.
Dishonest people with an insatiable need to be loved and accepted should read this. Unfortunately, they're generally told that their instincts are virtuous enough to compensate for the harm they cause, just as greedy people are told that they are so evil it negates the wealth they create.
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#7Those who are very greedy should read that.
Madoff is going to spend the rest of his life broke and in jail. For someone as rich as he was, he didn't live that swanky a lifestyle, and gave a lot to charity. Meanwhile, fantastically greedy people like Buffett and Gates are still out of jail and enjoying what they do. Dishonest people with an insatiable need to be loved and accepted should read this. Unfortunately, they're generally told that their instincts are…
So if he was not greedy, why did he started the Ponzi scheme in first place?
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#8Those who are very greedy should read that.
Madoff is going to spend the rest of his life broke and in jail. For someone as rich as he was, he didn't live that swanky a lifestyle, and gave a lot to charity. Meanwhile, fantastically greedy people like Buffett and Gates are still out of jail and enjoying what they do. Dishonest people with an insatiable need to be loved and accepted should read this. Unfortunately, they're generally told that their instincts are…
Bill Gates and Buffet don't live that swanky a lifestyle considering the size of their wealth, and the amount they have pledged to charity is unprecedented.
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#9The statement was drafted with the help of his lawyer, undoubtedly, and according to people who heard it delivered in the courtroom, the expression in his voice and his demeanor didn't match his words. There is also evidence from the federal investigation in his business office that suggests the scheme went on much longer than Madoff has admitted. In other words, the confession is just more lies to cover his ass. I have less respect for him than ever after reading the statement.
And it's ludicrous to compare a guy who steals from a charity for Holocaust survivors to leading business founders. Madoff is as completely venal as anyone who has ever been convicted of a business crime anywhere.
Re: Bernard Madoff’s Courtroom Confession About His Ponzi Scheme
#10Earlier quoted context omitted.
Madoff is going to spend the rest of his life broke and in jail. For someone as rich as he was, he didn't live that swanky a lifestyle, and gave a lot to charity. Meanwhile, fantastically greedy people like Buffett and Gates are still out of jail and enjoying what they do. Dishonest people with an insatiable need to be loved and accepted should read this. Unfortunately, they're generally told that their instincts are…
Bill Gates and Buffet don't live that swanky a lifestyle considering the size of their wealth, and the amount they have pledged to charity is unprecedented.
Only because their fortunes are equally huge. They could give a lot more. Looking at Gates, I feel like his foundation is nothing more than a shelter for his money, he only gives just enough to meet the legal requirement for a foundation and invests the bulk of it to keep the fortune growing.