Madoff “earned” his investors 1 percent or 2 percent a month

Personal Finance, ponzi, Scam No Comments »

Wall Street veterans recall how investors once begged to be allowed to invest their money with Madoff. Unlike Ponzi, he didn’t promise to deliver flashy double-digit returns overnight. He “earned” his investors 1 percent or 2 percent a month, bull market or bear, rain or shine. Because he didn’t overpromise, and because he limited his clientele, he was able to keep the scheme going for decades.

More

Personal Finance Info*Crush Bad Credit*Benard L Madoff

Madoff-related insults

Finance, ponzi, Scam No Comments »

Ten Insults for People Who “Almost” Invested With Bernie Madoff.

10 – It’s too bad that you didn’t invest. Maybe if you did you’d have committed suicide by now.

9 – Isn’t your daughter the girl who blew all those Milton Academy hockey players a few years ago?

More

Personal Finance Info*Crush Bad Credit*Benard L Madoff

The Banks Laugh All the Way to the Bank

Finance, Personal Finance No Comments »

The country’s financial markets have collapsed, as they tend to do when left without adult supervision, and they’re taking our economy with them. With the large banks refusing to make loans after losing billions on worthless subprime derivatives, the government stepped in and agreed to October’s financial bailout package. The $700 billion legislation was meant to buy banks’ “troubled assets” for cash, and thus improve banks’ balance sheets to the point that they would lend again. This would mean credit for struggling businesses and households, and could encourage expansion and hiring, thus pulling us out of recession.

More

Personal Finance Info Bernard L Mandoff

Banks are ready to sign onto Ponzi schemes?

Finance, ponzi, Scam No Comments »

Not one of his mega-bank clients, we’re asked to believe, required Madoff to produce the strict audit that would be routinely undertaken for any business investments of similar size. This notion itself is preposterous, as anyone who ever worked at a bank will attest. We must therefore conclude that, at their
highest levels, banks are ready to sign onto Ponzi schemes–or whatever –just as long as they remain right-side-up. From the perspective of trusteeship, that is not an encouraging thought.

More

Personal Finance Info Bernard L Mandoff

One enormous difference between Social Security and a Ponzi scheme

Personal Finance, ponzi, Scam Comments Off

In the aftermath of the Madoff implosion, quite a few people have pointed out the parallels between a Ponzi scheme and Social Security.

More

Personal Finance Info Bernard L Mandoff

Fairfield Greenwich Group is the biggest loser in the Madoff fraud

Uncategorized No Comments »

Fairfield Greenwich Group The investment firm headed by Walter M. Noel Jr., who had a long-running business relationship with Madoff, is the biggest loser in the fraud, facing potential losses of $7.5 billion, more than half the firm’s assets, according to the New York Times.

More

Personal Finance Info Bernard L Madoff

Thriving on Less – Simplifying in a Tough Economy by Leo Babauta

Finance, Personal Finance No Comments »

“In the middle of difficulty lies opportunity.” – Albert Einstein

The recent economic recession has a lot of people worried, about their jobs, their businesses, their homes and their bills. When your income is dropping or in jeopardy and you still have a mountain of bills to pay, things can get pretty scary.

However, tough economic times do not have to be a time of struggles! If you look for the opportunity in the middle of difficulty, as Mr. Einstein suggested, then tough economic times become an opportunity to transform your life.

The problems of our economy stem from unchecked consumerism – people buying houses too expensive for their incomes, getting into too much debt by spending too much, living a lifestyle of more and more with the idea that things will only continue to get better. Unfortunately, this kind of consumerism is unsustainable, both at a global and a personal level. Eventually, the bills have to be paid and things will be corrected to a more sustainable level.

To read more download (no opt-in) Thriving on Less – Simplifying in a Tough Economy

New York University said it lost $US24 million in funds managed by Madoff

Finance, Investing, Personal Finance No Comments »

New York University said it lost $US24 million in funds managed by Madoff, according to a lawsuit against fund manager J. Ezra Merkin. The university alleges Mr Merkin invested its money without telling investors or performing proper due diligence.

More

Personal Finance Info Bernard L Madoff

An obsolete New York Stock Exchange rule that protects specialists

Investing No Comments »

Why should stock exchange members deal with Bernie Madoff instead of with each other? Simple. It’s often cheaper to execute the customer’s order through Madoff than on the floor of an exchange.

More

Personal Finance Info

Actively position your 401(k) for the future

Investing, Real Estate, Retirement Planning, Save Money No Comments »

Americans are understandably shaken by the turn of events. Many are afraid to look at their statements until they learn from osmosis that things have gotten better. Or, they’re tempted to put everything in cash and ride out the storm. While it can be traumatic to see your 401(k) plummet, this isn’t the time to hide your head in the sand. This is the time to actively position your 401(k) for the future.

More

Personal Finance Info

WP Theme & Icons by N.Design Studio
Entries RSS Comments RSS Log in