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Huan Yi
Member Ascendant

since 2004-10-12

Posts 6688
Waukegan

0 posted 2008-12-15 08:49 PM

.

At least about 50 billion dollars apparently . . .

http://www.foxnews.com/story/0,2933,466887,00.html

.

Sunshine

Administrator

Member Empyrean

since 1999-06-25

Posts 63354
Listening to every heart

1 posted 2008-12-15 09:56 PM

When you trust a friend, you must look
ahead and behind, as my MIL said.

I doubt that all of the investors were
"greedy" but maybe thought they were
getting a good deal;
now that it's biting them in the behind,
I truly wonder if they are looking at their
other investments, as well.

I think it might be larger than we could
even imagine.

Juju
Member Elite

since 2003-12-29

Posts 3429
In your dreams

2 posted 2008-12-16 02:29 PM

Greed, not stupidity. Unless greed is like love. Maybe. Birds of a feather flock together.

My mom lost 5 grand on a bank that failed.
But then again what is a bank doing investing in sleaze like that, instead of the economy.

-Juju

-"So you found a girl
Who thinks really deep thougts
What's so amazing about really deep thoughts " Silent all these Years, Tori Amos

serenity blaze
Member Empyrean

since 2000-02-02

Posts 27738

3 posted 2008-12-16 04:17 PM

A big "whoa" to Juju.

And yanno? Money is a freakin' headache. So yeah, I understand this, because like any headache, the service and tempation to say "here, handle this" is there.

You've got to really love money to handle it well, I think.

Or have been without it.

Juju
Member Elite

since 2003-12-29

Posts 3429
In your dreams

4 posted 2008-12-16 09:04 PM

Now days you can't handle it on your own you need "someone to represent you" cause you know they will do that.

-Juju

-"So you found a girl
Who thinks really deep thoughts
What's so amazing about really deep thoughts " Silent all these Years, Tori Amos

Mysteria

Member Laureate

since 2001-03-07

Posts 18328
British Columbia, Canada

5 posted 2008-12-16 09:20 PM

In this economy you can't afford not doing your own research before investing any funds. If these folks left it to a broker to invest their money in these times, well what can I say except, "they were darn stupid."

Vestibular Bard
Member

since 2008-12-11

Posts 284
New York

6 posted 2008-12-16 09:29 PM

This stuff won't end till these people who comit these frauds are treated like mass murderers...because that is what this man and his firm has done to countless people who depended on the money, that lots of reputable charities, had invested with him.

Same with the tiny little group inside AIG, 50 people in a tiny CDS investment business, in the largest insurance company in the world, bring down the whole company, where 150,000 people worked, including my brother-in-law..in boring jobs like claims adjusting. The investment these people had in their companny's stock was wiped out overnight by completely foolish risk taking by a handful of people who paid themselves, and the executives, countless millions and walked out the door.

They need to be fined, and put in jail.

Balladeer

Administrator

Member Empyrean

since 1999-06-05

Posts 25505
Ft. Lauderdale, Fl USA

7 posted 2008-12-16 11:28 PM

Amen,brother....and throw away the key.

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