R. Allen Stanford, Bernie Madoff and the list will continue to grow as long as greed rules the land.
Stanford, charged with an $8 billion fraud scheme, has gone as far as attempting to charter a jet the last few days to leave his mess behind. U.S. Marshals seized control of his company’s offices Tuesday, including all documents pertaining to Stanford’s particular scam.
These individuals are to blame. Even more to blame are the investors who were just as greedy, jumping at the chance to make twice the money on their investments as with conventional measures.
.
Stanford Financial cooked the books throughout the 1990’s to show non existing profit margins on investments. This includes, as late as November, citing the ability to produce a 5.35 percent rate on a $100,000 CD, when the national average was just over 3 percent.
In 1996 and 1997, Stanford boasted an identical return of more than 15 percent on investments. Anyone who has an investment portfolio with any sense knows this identical year-to-year return is an impossible scenario.
As long as we can unearth the greed of people, “Mad Dog” Madoff’s $50 billion Ponzi scam and people like R. Allen Stanford will continue to exploit the situations created by greed on both sides of the fence.
Common sense, as well as the ability to remain for the long haul at a slow and steady growth, will pay off in the end – the old tortoise and hare tale.
Subscribe to:
Post Comments (Atom)
1 comment:
We all have a little greed in us. When one is asked to work the holiday, do you think they are worth the double time that is suggested that we get paid. It was worked out in our contract with the union that that's the pay we would get for working a holiday, but are we worth the $36 an hour/$80+ for the nurses. GREED. If one group gets this, such as the nurses, then the clerks should benefit the same. How much does a person need to live on? We would like to drive a nice vehicle, stay warm in a home that we feel comfortable in, have food on the table and once in a while take a nice little vacation. So how much does a person need for all of these things? Coperate America seems to think that it takes millions of dollars to make one happy. It seems to me that these individuals have taken advantage of the control that they have and spent what wasn't theirs. GREED is a funny thing, oh, but who's laughing? It'll be interesting to see how they will prosecute these individuals.
Post a Comment