2008 The Year of The Con-Man
A month ago or so I wrote about a con man who posed as a relgious Christian and went around to churches and preyed on unsuspecting church members whom he was introduced to by other members of the congregation. When the end came for his swindle he had conned people out of over $50million. After being found guilty he pretty much received what will for him a life sentence. He wont get out until he is almost a hundred. I dont think it was a fair sentence. People in most cases are a victims of their own greed as much as the con mans scheme. A man who was described as a master swindler said from his retirement home you cant cheat an honest man.
Bernard(Bernie)Madoff's $50 billion swindle didnt prey on the vulnerable or unspecting but mostly on investment professionals who should have known better but were blinded by greed. Madoff is a master swindler who used his resume and background to conn a bunch of greedy rich people. I personally dont think he should go to jail one because of his age and the fact that most of the people he cheated were very familiar with investing. They should have know better.
A conn man isnt out to hurt anyone physically he just wants the money to usually fund an opulant life style.
The effects of Dutch Regan's conn is just now being felt by the American people. Oh I know there are millions who would say how could you call Ronald Regan a con man when after all he was our president. But that is exactly what he was. The biggest transfer of wealth in the history of the U.S. occured while he was president. The U.S.treasury had a whole lot less in it after Dutch spent or gave trillions to the military contractors who had backed his poltical campaigns to the hilt. Did he really beat the Russians? Proably the most powerful and respected world leader today for the first time in modern history isnt an American president but a Russian leader by the name of Alexander Putin. The real sin isnt that people invested with Bernard(Bernie)but they invested so much. Most investments legitmate or otherwise are going to fail. The old saying dont put all your eggs in one basket sums it all up. Spread the risk and avoid financial tragedy. The winners like a Microsoft or a Home Stake mining will more then cover the losses.
Bernard(Bernie)Madoff's $50 billion swindle didnt prey on the vulnerable or unspecting but mostly on investment professionals who should have known better but were blinded by greed. Madoff is a master swindler who used his resume and background to conn a bunch of greedy rich people. I personally dont think he should go to jail one because of his age and the fact that most of the people he cheated were very familiar with investing. They should have know better.
A conn man isnt out to hurt anyone physically he just wants the money to usually fund an opulant life style.
The effects of Dutch Regan's conn is just now being felt by the American people. Oh I know there are millions who would say how could you call Ronald Regan a con man when after all he was our president. But that is exactly what he was. The biggest transfer of wealth in the history of the U.S. occured while he was president. The U.S.treasury had a whole lot less in it after Dutch spent or gave trillions to the military contractors who had backed his poltical campaigns to the hilt. Did he really beat the Russians? Proably the most powerful and respected world leader today for the first time in modern history isnt an American president but a Russian leader by the name of Alexander Putin. The real sin isnt that people invested with Bernard(Bernie)but they invested so much. Most investments legitmate or otherwise are going to fail. The old saying dont put all your eggs in one basket sums it all up. Spread the risk and avoid financial tragedy. The winners like a Microsoft or a Home Stake mining will more then cover the losses.
posted by thedetroittimes at 12:54 PM
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