Bernie Madoff's Real Crime
As anyone who doesn't live in a hole must know by now, financier and crook Bernard Madoff was taken into custody yesterday for bilking thousands of investors of billions of dollars by way of a giant Ponzi scheme. Obviously the "A" list of victims is replete with folks rending their clothes and screaming for blood. Two of them apparently committed suicide. Here's my take on Bernie's real crime.
So many savvy investors taken in by outrageously favorable returns on their money over ridiculous periods of time; so many multi-millionaires who were so blinded by the opportunity for more-more-more that they arrogantly chose to believe that the old truism, "If it looks too good to be true, it probably is," did not apply to them; all I can say is this:
Bernie's biggest crime was being more greedy than they were.