The Right Way Forward

Everything from politics to todays social issues

Why Are We Only Blaming Madoff?

leave a comment »

So Bernie Madoff pled guilty today and now awaits sentencing for bilking investors out of billions. As a result of the guilty plea, Madoff faces up to 150 years in prison. He’s been called a monster, a crook, every name under the sun. People are wishing him dead, calling for him to take his own life for ruining the lives of others. Many watch the TV and I’m sure feel nothing but disgust for the man. Many imagining those poor people who trusted Madoff with their life savings, their children’s college tuition funds, their retirement savings. Charities are now bankrupt as a result. From the average citizen to the well know and the famous.

Many believe he was not alone in running the biggest Ponzi Scheme ever seen. They want to blame others, the SEC, his family, his business associates, anyone that may have aided Madoff in pulling this off. Let’s round them all up and make them pay. Send them all to jail. Justice for all the victims.

Well folks, I’ll tell you who the biggest co conspirators were in this scheme. The investors. They have no one to blame but themselves.

Yes, those poor people who lost their life savings, their kids college tuition, their retirement savings, the charities, the famous and the not so famous. They are as guilty as Madoff in their greed and their lust for the almighty dollar.

How, in God’s name, when the banks are giving minimal interest rates and the stock market is in such a state of upheaval, did these people not realize something was not on the up and up? Annual returns in the double digits, 1% a month? Give me a break. At what point do you realize this isn’t on the level? Those that were lucky enough to get out before the bottom fell out should be held just as accountable as Madoff. Make them pay. After-all, they only succeeded in turning a profit because there were those dumb enough to invest after them.

Without greed, a con man can’t prosper. Without greed we wouldn’t even know the name Madoff. Without greed, those “poor people” would not have lost their life savings. I really don’t have much sympathy for anyone involved. They are all to blame.

If it sounds too good to be true………………

Advertisements

Written by usa1968

March 12, 2009 at 6:57 pm

Posted in Greed

Tagged with , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: