Open Thread

“it’s snowing!!! awww….”

Not enough and it’s not sticking……I want 24″, I want to go sledding!

In response to those who derided those who had tons of money in Madoff and didn’t diversify: I actually know a bunch of people who’ve lost their retirement money in this and want to clarify the situation based on my converstaions with them: There are three things you need to take into account. First of all, most people had been in this fund for a while. They started out diversified, just like you said. But over time, the returns were so good and so consistent that they succumbed to the urge to mover and more of their portfolios into madoff, a little bit at a time, until suddenlly they woke up one morning and 90% of their savings were in Madoff. That doesn’t excuse the behavior, but it makes it more understandable how otherwise savvy investors wound up overweighting this. Second, you have to realize that several hedge funds were invested in Madoff. I know someone who had half his money in Madoff and half in other hedge funds, so he was safe – except that those other hedge funds were all invested in Madoff, so even his diversified money went away. Finally, I know of several people who’s pensions were invested by their employer in the fund. They didn’t really choose where it went, and they lost those too.

So let’s not all jump on the “blame the victim” bandwagon.

you know all kidding aside, The What presents a lot of valid points.
I realllly believe(myself included) that many of us have gotten in way over our heads. I think as a society, we all felt we “deserved” these things. It was part of the “american dream” to own a house and a car and to take our families out to a nice dinner, buy a nice bottle of wine, oh and those nice pair of shoes. etc.etc. We have become so debt laden trying to make ourselves feel better or at least equal. I do feel this whole situation with the economy will make us stronger individuals who hopefully focus back on the important things in life and not just about stuff and money.

“You get less offensive in certain outfits?”

ooooh, I want to do a re-write on this, twisting a couple of words, dressing it up, yeilding a better effect 🙂
I won’t be naughty.
Noki might be studying.

“Would you like to pick out my outfits for me, so I’m not offensive?”

You get less offensive in certain outfits?