Date: March 13th. 2009
Time: 4.44pm
Location: Home - Queens-NY
I am totally baffled by the way these crooks are only being exposed because of the economic situation or so I believe. I am referring to the Bernard Madoff's scandal (if I may call it as such) and the Stanford fraud. They are both similar because they fraudulently robbed folks of billions of dollars and that is the confusing part to me. The question is how were this allowed to go undetected for so long and for so much money. Stanford is a culprit of approximately 10 billion and Bernard Madoff in excess of 50 billion. Mind boggling and totally beyond me, in my personal opinion I don’t believe that there is any available punishment to match this crime as per the law. I know you are innocent until proven guilty but Bernard Madoff pleaded guilty today and his lawyers are presently in the process of filing an appeal as per yahoo news. Here is the link http://news.yahoo.com/s/ap/20090313/ap_on_bi_ge/madoff_scandal_appeal. If successful he may stay out of jail. The next question is what happens to all the people who invested their hard earned money? This is a very bad situation for all those people who lost their money and I believe all their life savings and maybe have to start from the bottom again. At the present time it is not even easy to do that since the recession is in full stride and more people are losing their jobs daily. I just hope that something can be done to remedy this situation and help these folks and also to implement measures and maybe even laws that would prevent this in the future or make it almost impossible to be repeated.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment