Interesting Financial Tidbits in the News
In some very sad, angering, and actually one very optimistic story in the news as of late, it can be seen that we are going to keep hearing these unusual stories for quite some time as our country struggles to recover from one of the worst problems in history. The first one is very sad indeed. It’s about a ninety year old gentleman who lost his entire life savings of $700,000 in the Ponzi scheme that was built up over years by “financier” Bernie Madoff. The poor guy was unfortunate as many other were, in trusting this class A idiot who lost millions of dollars of hard earned money for people, and ended up losing every penny of his life savings- just down the drain, like that.
I can’t even imagine seeing my life’s worth flushed down the toilet like that, especially when I’m supposed to be enjoying my golden years in comfort and security. Shame on you Madoff, I don’t know how you can live with yourself, and the fact that you and your wife tried to shelter you assets from being seized to at least help pay back some of the people who’s lives you ruined just shows that you don’t have much of a conscience.
This ninety year old gentleman was forced to get a job paying ten dollars an hour at a local grocery store. I can’t even begin to describe the feelings of disgust this drums up, and I’m sure I’m not alone in that sentiment, and I’m a very forgiving person. In more positive news, apparently someone is benefitting from our current crisis. Used cars are flying off the lots, as people look for bargains on reduced used car prices and tend to not be going for the new cars any more instead opting to save thousands by buying used.
Used car salesman may be benefitting from this by selling more cars, and more easily, so at least someone is making better money. It’s good to hear even a glimmer of good news right now, it seems like Americans are hungry for it, lapping it up at first sight, giving us something to look forward to, and that ever so fading hope of a quick recovery. It will happen, it’s just a matter of time, please remember that!
