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theq
Joined: 10 Apr 2000
Posts: 707
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 Posted: Mon Dec 15, 2008 10:49 am Post subject: Anyone out there eating Madoff Muffins? |
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I'm just wondering whether we have any "let 'em eat cakers" who are enjoying their "Madoff Muffins" right now?
I've had a growing suspicion that virtually every person in America is stealing from someone else (All the while calling it "good business), whether it be purely padding materials lists in construction, to Madoff-like ponzi schemes. With each passing day, even I am surprised with how adept the criminals in this country are, how inept the regulatory agencies are, and how gullible the American people are.
Is there anyplace to hide from the steady devaluation of ethics? Oh Lord, even the country club isn't safe anymore!!  
How could people have amassed the large fortunes they invested in hedge funds like Madoff's without having heard the age-old saying, "If it sounds too good to be true, it probably is"? Odds are that they were just smart enough to cheat well, much like Madoff himself, or they inherited it. |
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MalibuGuru
Joined: 11 Nov 1993
Posts: 9300
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| Posted: Mon Dec 15, 2008 11:53 am Post subject: |
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My friend, we are at war with:
1) a lack of morality and work ethics
2) Nanny government and socialism.
3) Greed and fear
It's like yin and yang, except the govt won't let it all work out naturally. Secondly, people thought they could sit on their asses while their real estate assets and market assets just kept going up without working. No hard work, and a porsche lifestyle. It's been a great 10 year party. Now it's hangover time.
Trust me, Obama, Reid and Pelosi are wolves just like Madoff and the millions of other guys (big and small) who want your home, car, wife, girlfriend and money for themselves. Things haven't changed in 6000 years of human history. Take care of yourself baby. Don't expect the govt or investment advisor to do it for you. |
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swchandler
Joined: 08 Nov 1993
Posts: 10588
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| Posted: Mon Dec 15, 2008 1:23 pm Post subject: |
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"Trust me, Obama, Reid and Pelosi are wolves..."
Come on Bard, why not throw a handful of prominent Republicans and Fundamentalist Christians in the mix too? We don't want to be too one-sided and prejudicial in our outlook here. That would be really shortsighted and way way off the mark. |
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MalibuGuru
Joined: 11 Nov 1993
Posts: 9300
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| Posted: Mon Dec 15, 2008 2:06 pm Post subject: |
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| swchandler wrote: | "Trust me, Obama, Reid and Pelosi are wolves..."
Come on Bard, why not throw a handful of prominent Republicans and Fundamentalist Christians in the mix too? We don't want to be too one-sided and prejudicial in our outlook here. That would be really shortsighted and way way off the mark. |
Hey I didn't leave them out. Pelosi, Reid and Obama are going to tax American wealth away and the Wall streeters (mostly conservative) are going to fee it (or ponzi it) away.
As for the faithful Christians and Jews I know, you could trust them with your life, your money and your wife. |
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theq
Joined: 10 Apr 2000
Posts: 707
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| Posted: Mon Dec 15, 2008 3:08 pm Post subject: |
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| stevenbard wrote: |
Hey I didn't leave them out. Pelosi, Reid and Obama are going to tax American wealth away and the Wall streeters (mostly conservative) are going to fee it (or ponzi it) away. |
While one could bring up the old saying about the road to ruin being paved by good intentions, one might also say that at least half of those in the equation stated above has good intentions. I believe that there's a huge distinction there. One is trying to do good for many, (albeit with some real risk of failure), the other is just doing what's good for them personally. Again, big distinction.
| stevenbard wrote: | | As for the faithful Christians and Jews I know, you could trust them with your life, your money and your wife. |
I have learned that my trust is better placed in people who don't count on being forgiven. But I guess that's what makes it a ponzi scheme...I mean a horse race.
Funny (In a sick sort of way) that the crook's name is pronounced May-doff, considering with how much he "made off" with. No? |
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swchandler
Joined: 08 Nov 1993
Posts: 10588
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| Posted: Mon Dec 15, 2008 3:18 pm Post subject: |
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| Let's be honest. I have little doubt that you will probably have to pay higher taxes, and that's what your true rub is. I seriously doubt that I will pay more, and it's very likely that my taxes will go down based on Obama's plan. When it comes down to it, your taxes will simply rise back to the level they were prior to the Bush's tax cuts for the wealthy, and rightly so. |
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capetonian
Joined: 11 Aug 2006
Posts: 1197
Location: Florida
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| Posted: Mon Dec 15, 2008 8:12 pm Post subject: |
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| theq wrote: | | While one could bring up the old saying about the road to ruin being paved by good intentions, one might also say that at least half of those in the equation stated above has good intentions. I believe that there's a huge distinction there. One is trying to do good for many, (albeit with some real risk of failure), the other is just doing what's good for them personally. Again, big distinction. |
Mark Twain said it best - America is a nation without a distinct criminal class "with the possible exception of Congress." |
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jse
Joined: 17 Apr 1995
Posts: 1460
Location: Maui
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| Posted: Mon Dec 15, 2008 10:24 pm Post subject: |
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| stevenbard wrote: | | My friend |
why does that sound so familiar?
Steve |
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theq
Joined: 10 Apr 2000
Posts: 707
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| Posted: Tue Dec 16, 2008 10:49 am Post subject: Minyanville Article on "Made-off" by Guy Bennett |
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"Our priorities have become random and perverse. We spend $6 billion a year incarcerating 300,000 American men and women guilty of drug offenses. We're supposed to be grateful to our government for keeping these nasty criminals away from us, while we applaud the purity of the “free-market economy” that encourages guys like Madoff to rip us off."
http://www.minyanville.com/articles/nasdaq-HBC-economy--mortgage-/index/a/20350/p/1 |
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theq
Joined: 10 Apr 2000
Posts: 707
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| Posted: Tue Dec 16, 2008 11:14 am Post subject: |
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| stevenbard wrote: |
As for the faithful Christians and Jews I know, you could trust them with your life, your money and your wife. |
This reminds me; I had to do a double-take when channel-shopping the other night. I had thought that I'd heard a guy on one of those Christian televangelist shows telling his "flock" the best ways to invest their money. Yes, there was this Indian, or similar ethnicity, standing in the center-ring/stage, interviewing an investment expert on the best way to invest during such a major market downturn. He was taking questions (seemed to be rather scripted to me) from the audience. They spoke of potential investments in gold (suggested by the preacher, and tied it to something bibilical), to continuing with dollar cost averaging into the market. While I won't say that his advice was bad, it seemed that it was a little strange seeing it discussed during a religious service. I'm sure that they had their flock's best interest at heart, albeit perhaps indirectly. In this case what's good for the gander, will be good for the goose, i.e. bigger tithes.
What would Jesus do? Why he'd dollar cost average of course. |
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