If you could live 25 years of your life as a Billionaire but had to go to prison ....

[Bikini Mod]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

He broke the laws stated. It is about fantasy, its about playing to people's fantasy. I don't make the rules.

Oh I am not saying that he didn't break the law. The motherfucker was a thief-genious. He perpetrated the greatest Ponzi scam of all time. If the market hadn't tanked he I don't think he would have gotten caught in his lifetime. I think that is where he fucked up. He didn't make provisions in his scam for "what if". For these scammers it is all about the rush of getting over. I mean, look at Lou Perlman... the guy had already made billions LEGITIMATELY. The rush came from getting over. Trust me on this one. I have been dealing with scumbags like this for over 2 years now and that is the common thread.

I am just saying that I don't necessarily agree with the statement about him playing to peoples' fantasies. The people whose money he STOLE (not invested) were already super wealthy so which fantasy are you speaking of? High networth individuals are not looking to "get rich quick". They already are rich and it certainly didn't come quick to them. Is there a different fantasy you are refering too?

GREED is more like what I see driving most of these investors. It is more about GREED.

 

[UA_Iron]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

Oh I am not saying that he didn't break the law. The motherfucker was a thief-genious. He perpetrated the greatest Ponzi scam of all time. If the market hadn't tanked he I don't think he would have gotten caught in his lifetime. I think that is where he fucked up. He didn't make provisions in his scam for "what if". For these scammers it is all about the rush of getting over. I mean, look at Lou Perlman... the guy had already made billions LEGITIMATELY. The rush came from getting over. Trust me on this one. I have been dealing with scumbags like this for over 2 years now and that is the common thread.

I am just saying that I don't necessarily agree with the statement about him playing to peoples' fantasies. The people whose money he STOLE (not invested) were already super wealthy so which fantasy are you speaking of? High networth individuals are not looking to "get rich quick". They already are rich and it certainly didn't come quick to them. Is there a different fantasy you are refering too?

GREED is more like what I see driving most of these investors. It is more about GREED.

If they had been satisfied with their wealth they wouldn't have made such risky investments. The fantasy is always more, always the best.

 

[Bikini Mod]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

If they had been satisfied with their wealth they wouldn't have made such risky investments. The fantasy is always more, always the best.

OK I can see where you are coming from.

I don't know about Madoff's particular investment. What exactly was he selling? I thought this guy was like a Charles Schwab/Dean Wittier type investment guy.

My husband and I deal with private placements which are very risky, but if they pan out the pay-out is great. Greater risk = greater pay-out. We don't deal with people whose entire life savings is a 401K of 20K because they literally can't afford to lose say 60K to 100K which is what our typical investors does.

Even so, believe it or not depending on the age and demographic of the investor many are concerned with having the money that they already earned multiply so that they will have something for their kids and grandkids... I shit you not. Saavy investors have a very diverse portfolio: some stocks, some real estate, some businesses, etc. Then there are those who just straight up LOVE the rush from taking on risky projects. It is the adrenaline that comes from getting a hyuge pay-out (which many do) but lemme tell you when they lose, they lose BIG.

I thought the thing that made this guy Madoff super nasty was that many people trusted him SO MUCH that they let him handle their ENTIRE INVESTMENT PORTFOLIO... THAT is fucked up. To knowingly scam people out of ALL of their money. I don't care whether it is a mom and pop that only have assets and savings totalling 200K or people that have 200K liquid at any given moment in time. Many of these people are too old to make more money and they are left with NOTHING.

THAT is scummier than scummy....

Although Steven Spielberg earned all of his money with his talent and genious, he is still young enough to earn more. Hell, I can't begin to fathom the money from royalties of ONE of his blockbuster hits. But there are many MANY old people who trusted their entire portfolios. These peeps are retired and will never be able to recover.

I know all about having a couple bucks one minute (or think you do LOL) and being homeless the next. Wasn't easy for my husband and I to recover but we are still young enough to do it.

Guys like this Maddoff dude REALLY make my stomach turn for a whole host of reasons.

 

[musclemom]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

What gets me is the slimy little fuck-stick had the cajones to stand there in court and say he was sorry and ashamed. If he was so frigging sorry he'd cough up the money that he stole.

 

[Bikini Mod]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

LOL Got that right MM... Sorta like when a dude "is sorry" that his old lady busted him nailing his secretary. Was he sorry that he did the deed or sorry that he got caught. The way he was spending everyone else's money... you know, the money that he straight up STOLE... I am thinking that the only thing he was sorry and ashamed about is that HE GOT CAUGHT.

 

[musclemom]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

LOL Got that right MM... Sorta like when a dude "is sorry" that his old lady busted him nailing his secretary. Was he sorry that he did the deed or sorry that he got caught. The way he was spending everyone else's money... you know, the money that he straight up STOLE... I am thinking that the only thing he was sorry and ashamed about is that HE GOT CAUGHT.

He can't have spent it. It's simply too much money. Remember the movie Brewster's Millions? He had accomplises, and I think the reason he's not spilling his guts about where the money went is that he's afraid of his accomplises, not for himself but his family.

 

[Bikini Mod]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

He can't have spent it. It's simply too much money. Remember the movie Brewster's Millions? He had accomplises, and I think the reason he's not spilling his guts about where the money went is that he's afraid of his accomplises, not for himself but his family.

Oh I agree... I know exactly what you are talking about. My Old Grump would tell me about what his life was like when he was raking in BIG bucks, the kind that I can't wrap my head around. My husband LOVES to shop and all the finest things in life, but even after his most expensive divorce he still had MAJOR coin... that the next ho and the next ho and the next ho clipped till I got him with nothing but his bare old man ass. LOL

WE ALL KNOW that his family was in on it. PUH-LEASE, how could they have worked with him and NOT KNOWN that none of the money that came in was ever used to purchase any investments?

Shit, even when I was totally green to this industry and didn't even know what a Ponzi scam was, I caught on pretty quick to what bastard we were working for at one point. We had no clue at first as the guy seemed VERY legit. It wasn't until after a few months that we realized the sonofabitch was a Ponzi-scheming bastard. The girl who wrote the checks asked my husband in front of me, "Well, are people who invest hundreds of thousands of dollars happy with getting checks for like 5$ ?" Not only was this guy screwing investors out of tons of cash but he screwed us out of a ton of money that we worked for... We will never get that money but we did what we could to help the investors get their money back. We know peeps that LOVE to eat these scheming, lying pieces of shit alive.

Bottom line is if you get your kicks off of scamming peeps, eventually your time will come.

I can smell an investment scammer a mile away now.

 

[musclemom]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

Oh I agree... I know exactly what you are talking about. My Old Grump would tell me about what his life was like when he was raking in BIG bucks, the kind that I can't wrap my head around. My husband LOVES to shop and all the finest things in life, but even after his most expensive divorce he still had MAJOR coin... that the next ho and the next ho and the next ho clipped till I got him with nothing but his bare old man ass. LOL

WE ALL KNOW that his family was in on it. PUH-LEASE, how could they have worked with him and NOT KNOWN that none of the money that came in was ever used to purchase any investments?

Shit, even when I was totally green to this industry and didn't even know what a Ponzi scam was, I caught on pretty quick to what bastard we were working for at one point. We had no clue at first as the guy seemed VERY legit. It wasn't until after a few months that we realized the sonofabitch was a Ponzi-scheming bastard. The girl who wrote the checks asked my husband in front of me, "Well, are people who invest hundreds of thousands of dollars happy with getting checks for like 5$ ?" Not only was this guy screwing investors out of tons of cash but he screwed us out of a ton of money that we worked for... We will never get that money but we did what we could to help the investors get their money back. We know peeps that LOVE to eat these scheming, lying pieces of shit alive.

Bottom line is if you get your kicks off of scamming peeps, eventually your time will come.

I can smell an investment scammer a mile away now.

My husband and I are both very, very bad with numbers and understanding stocks, etc. If we had some loose coin (not this year, that's for sure) we'd love to try to do some investing but neither of us would have the faintest idea how to begin. To my mind it's just fucking evil taking advantage of people who have no idea how to invest money and blaming them for being stupid about money and trusting the investor to do what they're paid to do. IMO that's tatamount to blaming someone for not knowing how to cut their own hair, repair their own car, try their own cases or perform surgery on themselves. What's wrong with paying someone to do what they're good at? Our fucking economy is based on the idea of paying people to do what they're good at! But there's this egoism with people who are good with money, saying "Well, I can do it, why can't you?" It's very frustrating.

 

[Grumpy Old Man]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

My husband and I are both very, very bad with numbers and understanding stocks, etc. If we had some loose coin (not this year, that's for sure) we'd love to try to do some investing but neither of us would have the faintest idea how to begin. To my mind it's just fucking evil taking advantage of people who have no idea how to invest money and blaming them for being stupid about money and trusting the investor to do what they're paid to do. IMO that's tatamount to blaming someone for not knowing how to cut their own hair, repair their own car, try their own cases or perform surgery on themselves. What's wrong with paying someone to do what they're good at? Our fucking economy is based on the idea of paying people to do what they're good at! But there's this egoism with people who are good with money, saying "Well, I can do it, why can't you?" It's very frustrating.

Well,

First keep your money in your pocket. If you don't know how to put your money someplace safe keep it. DO NOT let anyone give you advise on how to spend your money. EVER!!! Their job is to make themselves money not you, even though you would think that it was the other way around.

As far as Madoff not being able to spend the money, he did. When you pay the next investor with the previous investor there is no end to the amount you have to kep collecting. Although when you pay a small part of what you collect then you can live pretty large, as Madoff is.

Unless you can afford to lose every penny you invest with not another thought, please put your money in a savings account.

Dale

 

[shrimp poboy]

Re: If you could live 25 years of your life as a Billionaire but had to go to prison

id still do 10 years in prison to be a billionaire fuk i did 2 for free whats another 8?