Those SEC employees should’ve been Fired

The SEC is complicit.

I don't have this to worry about I just have 2 gas cards.lol.

There's an old saying, "You can't cheat an honest man." The meaning behind this statement is that a con-man often relies on the greed of their marks to bilk them of their money and that greed makes the mark less than an honest person. The lure of Madoff was that he was somehow able to get returns of 12% year-in-and-year-out, without ever suffering a losing year. That was the pitch. And the "victims" who "fell" for this weren't stupid people. Rather, they were outrageously greedy people. They knew or should have known that there were only two possible ways that Madoff could have achieved those guaranteed 12% annual returns in the stock market: (1) Madoff was relying heavily on criminal insider trading secrets to achieve abnormally positive returns; and/or (2) Madoff was the luckiest investor of all time. Either way, a sensible person would have asked, given those two--and only two--possibilities, "How come no bank, no hedge fund, no mutual fund, or any other sophisticated investor had ever "invested" with Madoff?" The reason they didn't is precisely because of those two and only two possibilities--neither of which were good reasons to invest. And if that wasn't obvious enough, there's the fact that Madoff used a no-name "CPA" film to "audit" the Madoff business. Now, the big-four are by no means high-quality auditors, but even their mediocre auditors would have picked up on fraud during the first day of their audit. So, you have to ask, "Why didn't Madoff hire PwC, KPMG, EY, or Deloitte for his audit? No, sorry so-called "victims," "You can't cheat an honest man."

@sananselmospacescienceodys7308

Жыл бұрын

I once gave $40.00 to a woman who said she was collecting for a children's charity. I had no intention of ever seeing that money again but no child saw a cent of it. It when to Booz for the woman. I was honest and I get cheated.

HBC. Had a credit card with them. And my Brother told me to shred it. And I did.

My Dad talked me into investing with him. We lost close to $80.000.My parents survival $. And my retirement some day .. but Life goes on. Mom & Dad died Broke !

@spanishjo4282

4 жыл бұрын

James Bond 007 My dad lost 100 millions and he died.

@fuckoffhackers8619

4 жыл бұрын

Sorry for your loss.

Don’t greed than nothing will happen

@kennyroberson6216

Жыл бұрын

How is investing your money greed?

Investing all your money with one single person is crazy tough.

@georgialee6755

Ай бұрын

Yes especially an individual person

Simpler times #missthosedays

good ang moh