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MissJones
I need a nap!
Member since 5/05 22132 total posts
Name:
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Do you think that the Maddoff events played a role in our current economic situation?
Just wondering.
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Posted 6/29/09 5:29 PM  |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Do you think that the Maddoff events played a role in our current economic situation?
No
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| Posted 6/29/09 5:51 PM |
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seaside
LIF Adult
Member since 6/08 3101 total posts
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Re: Do you think that the Maddoff events played a role in our current economic situation?
I think the brazen greed he showed is evocative and representative of others' greed and attitudes. This greed--the lack of forethought about consequences, etc., all conspired to create many of the events that brought us here.
Not directly though.
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| Posted 6/29/09 6:10 PM |
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JessInCA
live laugh love
Member since 8/06 5082 total posts
Name:
Jess
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Re: Do you think that the Maddoff events played a role in our current economic situation?
No. The current economic climate is far too widescale for one man to have had a role in it becoming that way.
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| Posted 6/29/09 6:57 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19454 total posts
Name:
L
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Re: Do you think that the Maddoff events played a role in our current economic situation?
Do I think he was solely responsible for the current economic climate, no, but I do think he played a part in it. In the larger sense, many many people did not check their facts and figures and stocks were over inflated - hence the economic melt down and current fiscal mess we are in.
Message edited 6/29/2009 7:20:03 PM.
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| Posted 6/29/09 7:19 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Do you think that the Maddoff events played a role in our current economic situation?
No. Considering he's been doing his Ponzi scheme since at least 1991 (that's what he admits to anyway...), I don't think it had a significant affect on the current economic conditions.
The housing market collapse, several non-Madoff related banks nearly collapsed, the auto industry collapsed. All of these major pivotal points collapsed, and that's what I think had a significant contribution.
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| Posted 6/30/09 7:35 AM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: Do you think that the Maddoff events played a role in our current economic situation?
Posted by seaside
I think the brazen greed he showed is evocative and representative of others' greed and attitudes. This greed--the lack of forethought about consequences, etc., all conspired to create many of the events that brought us here.
Not directly though.
i agree... about greed
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| Posted 6/30/09 9:27 AM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
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Re: Do you think that the Maddoff events played a role in our current economic situation?
No but I think the current economic situation helped to expose him.
When the market soured some of his clients wanted to make withdrawals, this is when we learned he didn't have the funds to cover those requests.
In the weeks leading up to the exposure he was desperately trying to bring in new investors to cover withdrawals to keep the charade going
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| Posted 6/30/09 9:46 AM |
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ali120206
2 Boys
Member since 7/06 17789 total posts
Name:
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Re: Do you think that the Maddoff events played a role in our current economic situation?
Posted by annoyedTTCer
No but I think the current economic situation helped to expose him.
When the market soured some of his clients wanted to make withdrawals, this is when we learned he didn't have the funds to cover those requests.
In the weeks leading up to the exposure he was desperately trying to bring in new investors to cover withdrawals to keep the charade going
ITA
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| Posted 6/30/09 9:47 AM |
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Re: Do you think that the Maddoff events played a role in our current economic situation?
No way!
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| Posted 6/30/09 10:01 AM |
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