Crunk Times, My friend.....Crunk Times

[IamDeMan 5,000+ posts]

After reading on this madoff cat, it is apparent people just ****. I feel no pity for most who lost their money in this. Warnings were ignored. Markopolos raised concerns and complained to the SEC in boston in 99. He stated the claims were impossible using his investment strategies. The results simply couldn't be replicated.

Then he sends the SEC a detailed 17 page memo in 2005. Yet this cat doesn't get any trouble until basically he confesses to his sons who rat him out. I am sure he confessed because he saw it inevitable in the face of the current market.

To me it sounds like nearly everyone involved turned a blind eye.

 

[DBfan187 5,000+ posts]

He should be a cell mate with Kirk Wright.

 

[Flipx99 5,000+ posts]

Interesting tidbit.
Joseph Spence wrote that Lord Radnor reported to him "When Sir Isaac Newton was asked about the continuance of the rising of South Sea stock… He answered 'that he could not calculate the madness of people'."

Makes me not feel as bad, but I still try.

After reading on this madoff cat, it is apparent people just ****. I feel no pity for most who lost their money in this. Warnings were ignored. Markopolos raised concerns and complained to the SEC in boston in 99. He stated the claims were impossible using his investment strategies. The results simply couldn't be replicated.
Then he sends the SEC a detailed 17 page memo in 2005. Yet this cat doesn't get any trouble until basically he confesses to his sons who rat him out. I am sure he confessed because he saw it inevitable in the face of the current market.

To me it sounds like nearly everyone involved turned a blind eye.

It ALWAYS happens this way. ALWAYS.

When times are good, due dilligence goes out the window.

What people don't understand is that active portfolio management is hard and time consuming. It is something I play out in my head often and I still don't know the answer. If companies did an entire swap over to defined contribution, the retirement would be up to the individual's choices. However, we know that individuals do not make good choices. Should a parent chose to spend his free time pouring over investment prospectuses(sp? - plural form of prospectus) or teaching his kid to play ball, tie a shoe, build a tree house, etc.

 

[MikeofTulsa Moderator]

the last few days of posting have sucked, im considering a do over. i think i should make a poll

 

[Chevillac 5,000+ posts]

I got called a racist last night at the mall by some Indian because I said I didn't vote for Obama. Hell I didn't even vote at all because I could care less about politics all together.

You are racist.

Remember where you are - this is Thunderdome, and death is listening, and will take the first man that screams.

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[IamDeMan 5,000+ posts]

He should be a cell mate with Kirk Wright.

I didn't get into that story yet, but I will propose will talk about that one next time we meet for class.

 

[DBfan187 5,000+ posts]

WTF? I'm making some mixed greens for dinner, along with some baked salmon, and angelhair pasta.

 

[IamDeMan 5,000+ posts]

Makes me not feel as bad, but I still try.



It ALWAYS happens this way. ALWAYS.

When times are good, due dilligence goes out the window.

What people don't understand is that active portfolio management is hard and time consuming. It is something I play out in my head often and I still don't know the answer. If companies did an entire swap over to defined contribution, the retirement would be up to the individual's choices. However, we know that individuals do not make good choices. Should a parent chose to spend his free time pouring over investment prospectuses(sp? - plural form of prospectus) or teaching his kid to play ball, tie a shoe, build a tree house, etc.

w3rd

While I understand this, I just can't believe that people were warning. People with knowledge of how it works, yet no one wanted to do the work to confirm. It's like "I am making money, so I could care less how." Which that makes perfect sense too.

 

[DBfan187 5,000+ posts]

Oh shit, I didn't know he died. Kirk killed himself, before Steve Atwater could lay a lick on him!

 

[SocMunky 10+ year member]

GD I have a lot of catching up to do //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[IamDeMan 5,000+ posts]

WTF? I'm making some mixed greens for dinner, along with some baked salmon, and angelhair pasta.

om nom nom

 

[Chevillac 5,000+ posts]

the last few days of posting have sucked, im considering a do over. i think i should make a poll

the only poll about a do-over should be done right here.

 

[DBfan187 5,000+ posts]

//content.invisioncic.com/y282845/emoticons/word.gif.64b12e39f936af3b4fff38a1c0bd0244.gif

 

[DBfan187 5,000+ posts]

 

[IamDeMan 5,000+ posts]

Is it wrong to be looking for a new job whilst at work?

No, it is encouraged.

Surfing Monster.com is at least related to work, unlike surfing Myspace or facebook.