New Status Symbol: Getting Ripped Off By Madoff

Clusterstock:

And now the wealthy have a new status symbol: getting ripped off by Bernie Madoff. Because Madoff is said to have only accepted an exclusive group of wealthy investors, saying you got ripped off by Madoff is a subtle way of saying that you've got big money. From those who spend their summers in Nantucket to those spending evenings at the Yale Club, Bernie Madoff has become the new name to drop.

"We'll only be out in Nantucket for two weeks rather than the whole month," a Nantucket regular recently told a friend. "We lost money in the Madoff thing."

Read the whole story: Clusterstock

Comments

[totaldisbelief]

OK let's all go read Callenbach's Ecotopia (google it up) and see if that's the world we want.
Go ...do it now.

[totaldisbelief]

It's a hellova way to get your 15 minutes of fame.

[themodernleader]

The Madoff swindle will go down as the one big thieft that finally brought down the Financial Capitol of the World. And we are gradually learning that there is no lasting value to paper that is not sealed and delivered by productivity. If we do not innovate and produce we will go the way of all other great empires. We must get from under the corrupting influence of currrency defrauders and paper shufflers and return to our original mission: Make the world a better place for our citizens and the world.

[FunGuy13]

This is one "status symbol" that I will pass on!!! I mean, do you really want people to know how stupid you were to put hundreds of millions & billions of your monies with a fraudster whose whole past seems to be a lie?!? Not I, that's for sure...

[IllinoisTexan43]

See, that's why I deliberately stay broke so con artists like Madoff leave me alone! ;-)

[saxmaniac]

Started with nothing, still have plenty left. As for Bernie's clients, karma's a bitch.

[dolphy]

It's good I don't have status.

[ChescoMom]

Just goes to show money can't buy you.brains.

[YouDisgustMe]

well...err....i lost money in the madoff thing too........

[Hdaryl01]

The easiest mark is another con..........driven by greed.........a few were on TV tonight DEMANDING that the government bail them out, NOW, and continued to blame the government for their losses.

Although clearly culpable, the SEC, nor any other governmental unit, division, branch, etc. was responsible for allocating ALL of ones nestegg to one non-diversified investment vehicle, in amounts well in excess of SIPC protection.

Caveat emptor. Want a friend, buy a dog.

[tomas0808]

I would say Eat The Rich except their flesh is sure to be toxic, the poisonous scum

[sloreader]

The exclusivity was part of the con job to be sure.

[RPLinNYC]

Bingo.

[Bitsko]

We Americans have forgotten how to use our brains, all in the name of short-term gain.

[Changeizgood]

We who? Are you part of this crookery. Are you included in this theft of savings from retirees and first time homeowners in the morgages reselling scams?

The only "we" I know that took the money, belongs to the "Those stupid yokels Club" They think we are too stupid to know that we need to utilize OUR Bunko Squad!

"Qui?"

[frantaylor]

stupid will always be cool