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madoff was the reason one of the people i know’s company closed down. it was Jeht, a non profit. they are closing in january. totally sucks. they found out in a meeting yesterday. 🙁
“Having said that, one can’t paint all Wall Streeters with one brush. The majority of those working in the financial sector are truly good, hard working and ethical individuals. ”
Biff let me give you a example: Say someone like me was working for oh.. Bear Sterns. My views on the market would get me fired because I was not a “Team Player”. There is a story about a underwriter who worked for Countrywide. She would reject fraudulent Mortgage Applications because of (Fake W-2, Fake Job, Fake Contract and Fake Fake). Her bosses would scream at her and she had to go thru alot of BS. This is the culture thru out the Mutant Asset Bubble! It takes the Psychology of Greed and Delusion to make it work and when people take a stand against crap, they are Ridiculed and Laughed at. The funny thing is when it all comes apart people will say “they had no idea” and that is the scary part..
“She advised against giving him any money because there were too many red flags that were obvious to her with only a cursory review.”
DIBS, she sounds like a smart woman. For others, reputation is everything and the due diligence performed by some was clearly appallingly insufficient. I wonder what other similar Ponzi schemes might be uncovered as people start withdrawing their funds. Are you guys still ok in terms of redemptions in light of the Madoff story and already brutal market conditions with people starving for liquidity? I’m really hoping you guys can weather the storm.
“He should be locked up forever – although I wouldn’t mind seeing him let and and have some street justice administered to him.”
I’m telling you – we need to bring back the stockades! On the Battery! Put the worst of the worst out there in tattered thread bare striped prison rags, and let them sit out in public, in the cold, and be yelled at and pelted with rotton tomatoes and eggs.I have no mercy for this scum.
Robbing retirees of their hard earned saved money is the lowest of the low. They played by the rules, they did the right things, and they deserve better.
Rob; I don’t know of any outside finance at the moment.
Yes Biff…the amount of collateral damage from Madoff is truly stunning. I said yesterday that one of my colleagues here in the office who runs a fund and rents space from us had a client that asked about him a few years ago.
She advised against giving him any money because there were too many red flags that were obvious to her with only a cursory review.
Apparently, as is always the case during times of too much liquidity, not a lot of due diligence was being performed out there. Very sad but most of these people were supposed “professional” investors.
“so far how many people do you know who have been laid off or lost jobs?”
Rob, the number for me is huge. Every week it seems I get a couple of emails bounce back (from friends/work associates in financial services mostly, but not all of them) indicating the email address is no longer in existance. It’s obviously by far the most prevalent in financial services, but unfortunately we’re seeing it starting to trickle down and spread to other areas. I just hope for everyone’s sake it’ll turn around soon.
“What…can you seriously tell us that you’ve analyzed the finances at Overstock.com and prove the large number of people wrong who are short this stock??”
Dave, Dave Dave.. You are not stupid! You know about the sharks and what they do to weak companies. They Homeboys get together and go to town on a stock..
Can I ask you a question Dave? If I have “inferior” knowledge about the Markets then, why do you try to discredit everything I write? You are the Hedge Fund guy, the “smart” one and you make a living from this. How come a raving lunatic like myself called the October crash this year? Like I said before I hope no is paying for your advice on the Market. I think Madoff has a better track record than you..
so i have a question.. so far how many people do you know who have been laid off or lost jobs? so far as of yesterday i know FOUR! and none of them are even remotely in finance or anything like that. SO scary 🙁
madoff was the reason one of the people i know’s company closed down. it was Jeht, a non profit. they are closing in january. totally sucks. they found out in a meeting yesterday. 🙁
*rob*
Again, ask the What a question and never get an answer. You’re probvably a great broker to work with on the other side of a sale. What an Asshat.
“Having said that, one can’t paint all Wall Streeters with one brush. The majority of those working in the financial sector are truly good, hard working and ethical individuals. ”
Biff let me give you a example: Say someone like me was working for oh.. Bear Sterns. My views on the market would get me fired because I was not a “Team Player”. There is a story about a underwriter who worked for Countrywide. She would reject fraudulent Mortgage Applications because of (Fake W-2, Fake Job, Fake Contract and Fake Fake). Her bosses would scream at her and she had to go thru alot of BS. This is the culture thru out the Mutant Asset Bubble! It takes the Psychology of Greed and Delusion to make it work and when people take a stand against crap, they are Ridiculed and Laughed at. The funny thing is when it all comes apart people will say “they had no idea” and that is the scary part..
The What
Someday this war is gonna end…
“She advised against giving him any money because there were too many red flags that were obvious to her with only a cursory review.”
DIBS, she sounds like a smart woman. For others, reputation is everything and the due diligence performed by some was clearly appallingly insufficient. I wonder what other similar Ponzi schemes might be uncovered as people start withdrawing their funds. Are you guys still ok in terms of redemptions in light of the Madoff story and already brutal market conditions with people starving for liquidity? I’m really hoping you guys can weather the storm.
“He should be locked up forever – although I wouldn’t mind seeing him let and and have some street justice administered to him.”
I’m telling you – we need to bring back the stockades! On the Battery! Put the worst of the worst out there in tattered thread bare striped prison rags, and let them sit out in public, in the cold, and be yelled at and pelted with rotton tomatoes and eggs.I have no mercy for this scum.
Robbing retirees of their hard earned saved money is the lowest of the low. They played by the rules, they did the right things, and they deserve better.
Rob; I don’t know of any outside finance at the moment.
Yes Biff…the amount of collateral damage from Madoff is truly stunning. I said yesterday that one of my colleagues here in the office who runs a fund and rents space from us had a client that asked about him a few years ago.
She advised against giving him any money because there were too many red flags that were obvious to her with only a cursory review.
Apparently, as is always the case during times of too much liquidity, not a lot of due diligence was being performed out there. Very sad but most of these people were supposed “professional” investors.
“so far how many people do you know who have been laid off or lost jobs?”
Rob, the number for me is huge. Every week it seems I get a couple of emails bounce back (from friends/work associates in financial services mostly, but not all of them) indicating the email address is no longer in existance. It’s obviously by far the most prevalent in financial services, but unfortunately we’re seeing it starting to trickle down and spread to other areas. I just hope for everyone’s sake it’ll turn around soon.
“What…can you seriously tell us that you’ve analyzed the finances at Overstock.com and prove the large number of people wrong who are short this stock??”
Dave, Dave Dave.. You are not stupid! You know about the sharks and what they do to weak companies. They Homeboys get together and go to town on a stock..
Can I ask you a question Dave? If I have “inferior” knowledge about the Markets then, why do you try to discredit everything I write? You are the Hedge Fund guy, the “smart” one and you make a living from this. How come a raving lunatic like myself called the October crash this year? Like I said before I hope no is paying for your advice on the Market. I think Madoff has a better track record than you..
The What
Someday this war is gonna end…
so i have a question.. so far how many people do you know who have been laid off or lost jobs? so far as of yesterday i know FOUR! and none of them are even remotely in finance or anything like that. SO scary 🙁
*rob*