Monday, June 29, 2009

150 years for Madoff

He said, 'he was sorry'. But is that enough if you are convicted of single-handedly swindling tens of thousands of people of an estimated $60 billion. His victims label Mr. Madoff as disturbed, evil, rubbish, etc. and wish several unprintable scenarios upon him. Clearly this was a heinous crime. A reminder of the sinfulness of man and no regard for the law. Full disclosure, I have not been a direct victim of Mr. Madoff but who knows what they will uncover down the road? Why did people invest with him and his firm? Trust and Greed? They wanted higher returns, fell for the man's mystique and his standing in the community. A pillar of society. So they did some due diligence, did not see obvious red flags, and were drawn to the promised financial returns like moths to a light. We could have all fallen victim to this Ponzi scheme. Who can blame anyone for seeing the fulfillment of future dreams and plans in the Madoff magic investment fund? We all need to do practical investing to be good stewards. But some people thought they had paved their future with gold bricks by being in Bernie's exclusive club. We all need to be aware of our idols and placing our trust, our future in any man or corporation or government.

Romans 1:25 They exchanged the truth of God for a lie and worshiped and served created things rather than the Creator - who is praised forever. Amen.

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