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TechGromit
2010 Mar 11, 1:05pm
I really don't understand why the Government is even liable to return there original investment. Every investment is a risk, and you need to be aware of the risks involved. It's not like they deposited there money into a Bank that was FDIC insured. If they get reimbursed for the lost of there principal, than what about me, I lost money in the market on my 401k, make me Whole again Uncle Sam, or I paid 400k for my house, but it's only worth 330k now, so how about it, if they can get there's, what about me?
“These are very Christian†people, Shaw said, referring to the Stanford victims. A lot of members were marketed the Stanford securities “at church.â€
So go bug the pope, ask him for a couple of Billion. I really can't believe the gall of these people. Sure it sucks they got wiped out, but Diversification is one of the most basic rules of investing, They were GREEDY and haven't learned anything, they are still greedy and want someone else to pay for there own mistakes.
"Some of the Madoff victims in Chaitman’s group are separately involved in legal cases against SIPC. They lost one round on March 1 in federal bankruptcy court in New York when the judge agreed with SIPC that it shouldn’t base payments on fictional account statements. They are appealing. "
Well, Duh!
My point exactly. How can these a-holes legitimately believe that these returns are owed to them if even their once almighty madoff couldn't produce them? The real truth is that they know full well that it's not a legitimate claim and they are just more rich sheisters trying to rip off the gov and ultimately we tax payers. They need to have clawbacks and redistribute this money to all bilked investers. In addition to possible charges, why is it that these particular investors miraculessly pull their cash out before it blew up? Was this his way of taking care of some particularly well "connected" investors? Perhaps maybe some of these folks are just as much crooks as madoff. If I were a judge I would have issued bench warrants for each and every plaintiff in their spic suit and have them explain why they shouldn't be charged with recieving stolen property, taken into custody, and have their assets frozen immediately. That would be a justice system I could believe in.
The march 10 bloomberg article about madoff and Stanford victims lobbying congress over their denied spic claims. Unbelievable. These "victims" have incredible gall. These are mostly very rich folk who believe the gov should make them whole. They are so wealthy that they spent millions hiring their own lobbyists to roam the halls of congress.
The madoff victims all of whom managed to get all their original principle back from madoff (presumably before his scheme colapsed) feel they were entitled to the ficticious returns shown on their statements. They want the gov to "make them whole.". These people invested with madoff because of his high and unbelievably consistant returns. They got duped and should have known better. They didn't really lose anything. As a matter-of-fact because they pulled out early they actually recieved someone elses money. That is essentially what a ponzi scheme is. If I'm a judge and I see these facts they have laid before me, the first thing I would say is that they have recieved STOLEN property, could and should be charged with a crime. That money came from later investors and by rights should be siezed from these arogant numbnuts and distributed equally between ALL madoff victims. If they (congress) give in to this nonsense what's next? Uh, cookie monster promised me 20% return and pledged the golden gate bridge as colateral. The gov needs to make me whole. Not on my dime, yakoffs.
Funny thing is some of the republicans are actually buying into this bull. Oh those poor old rich folk.
#politics