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Thursday, January 22, 2009

Madoff the Robber of Widows

Bernard L. Madoff is all over the news for his Ponzi Scheme exploitation of the mega rich, building a pyramid type scam that would and could only collapse under its own weight. Paying quarterly dividends to older investors with new investors contributions and deposits to his made up investment scheme. Some people might say that it serves the mega rich right for putting all their eggs in one basket and at times I can agree with that thought process. My family and I don’t have a pot to piss in, or a window to throw it out of but we know that we should never put all of our investments for our retirement and the kids college money in just one investment vehicle. Don’t get me wrong, Madoff should be prosecuted to the fullest extent of the law and then put in a room with some of the widows he stole from for a couple of hours. I’m sure the widows would stop ripping his skin off just one breath short of death. I’m also sure that they would be willing to nurse him back to health so they could repeat the first step. And like the shampoo bottles say, repeat the process.

Over at Philly.Com they have this on one widows story and my heart goes out to her…

Posted on Thu, Jan. 22, 2009

West Goshen widow's riches-to-rags story
By Harold Brubaker
Inquirer Staff Writer

When Maureen Ebel's uncle called her at 10:45 p.m. Dec. 11, she feared a death in the family.

Instead, her Uncle Leonard gave Ebel news of another kind of disaster that would upend her life: New York investment manager Bernard L. Madoff had been charged with massive fraud.

Ebel, 60, a widow who lives outside West Chester and winters near West Palm Beach, thought she had $7.3 million with Madoff.

It became sickeningly clear over the next day or so that all her money was gone. "The thought that I have to work now as long as I can stand up to feed myself" shattered her comfortable world, she said.

Six days after Madoff's arrest for allegedly bilking investors in a $50 billion Ponzi scheme, Ebel had a strenuous temporary job caring for a wealthy friend's 93-year-old mother and keeping her house, pushing the vacuum cleaner and ironing.

"The first day, I went home and cried," Ebel said.
- Philly.Com

What Bernie Madoff, aka the Widow Maker Bandit did is called a white collar crime and thus the son of a biscuit eater is still living in his penthouse while the widows of his crime are scrambling to save what they can. If somebody broke into your house and stole your life savings that you put in your mattress, that person would be in jail till the trial. Why this scumbag Madoff is allowed to live in the lap of luxury till his trial is beyond me? A thief is a thief, be it stealing a car worth ten or twenty grand or over $50 Billion from investors.

I hate to say it but Bernie (I Made-Off) with over $50 Billion in ill gotten gains is in fact the greatest bank robber ever. People blindly put their money into what they thought was a secure investment company and the last statement they received was from the F.B.I. telling them they had a balance of zero courtesy of Mr. Madoff. Forget the Brinks robbery of the 1950’s, or the Los Angeles robbery of over $18 million in the 1990’s. Bernie is the king of the thieves and he should reside in the palace built especially for them all. It’s called jail!


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Blogger B.J. said...

How much money does a person want? And, how does he sleep at night? BJ

10:19 PM  

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