Difference Between Madoff and the Rest of Wall Street?

[sunskyfan]

Would someone like to explain to me what the moral difference is between Madoff and the "rest" of the Wall Street failure? Promisises were made. Sustained remarkable returns seemed too good to be true. Duped investors. Sad stories and a Government bailout. How about the Housing bubble? People on CNBC are upset he "met" bail. Hell, I am suprised he didn't go to the TARP for the funds.


http://money.cnn.com/2008/12/18/news...ion=2008121814

http://www.wowowow.com/photo-essay/h...-madoff-154277

[grizam303]

Re: Difference Between Madoff and the Rest of Wall Street?

Would someone like to explain to me what the moral difference is between Madoff and the "rest" of the Wall Street failure?

Media spin.

[Wild Style]

Re: Difference Between Madoff and the Rest of Wall Street?

Would someone like to explain to me what the moral difference is between Madoff and the "rest" of the Wall Street failure? Promisises were made. Sustained remarkable returns seemed too good to be true. Duped investors. Sad stories and a Government bailout. How about the Housing bubble? People on CNBC are upset he "met" bail. Hell, I am suprised he didn't go to the TARP for the funds.


http://money.cnn.com/2008/12/18/news...ion=2008121814

http://www.wowowow.com/photo-essay/h...-madoff-154277

He (Madoff) pissed the wrong people off or should I say screwed the wrong people over and he is going to jail. Wall Street on the other hand helped their friends and in turn their friends are giving them "our" money for "their" mistakes. I think that about sums up the differences.

[Supercilious]

Re: Difference Between Madoff and the Rest of Wall Street?

The answer to your question is this:

The US suffers from systemic not venal corruption, although the Madoff case looks venal given the family connection.

Ergo, there is a great difference between Wall Street and Madoff , although they may look the same...

[Nervous Drake]

Re: Difference Between Madoff and the Rest of Wall Street?

.

[karim0028]

Re: Difference Between Madoff and the Rest of Wall Street?

Difference, is he got caught :rolleyes:

[sunskyfan]

Re: Difference Between Madoff and the Rest of Wall Street?

It seems that "venal" is in the eye of the beholder here. ;)

[BobH]

Re: Difference Between Madoff and the Rest of Wall Street?

Would someone like to explain to me what the moral difference is between Madoff and the "rest" of the Wall Street failure?

If I may, I will take this question on a different tract.

Wall Street, Housing, Social Security, Medicare and even unemployment insurance (states have spent this money for other things) are all ponzi schemes! I'm sure if I gave it much more thought I could come up with another bunch.

So I would suggest looking at the base or beginings of each of these things. Rather than be concerned about morality in these games. Each of them, directly or indirectly, are immoral.

Obviously, we all participate in all of them but understanding what they are before you step into them, I think, helps give you a better perspective of the game.

[don]

Re: Difference Between Madoff and the Rest of Wall Street?

BobH: On your SS Ponzi reference, my understanding is that SS has always been in the black, as such it's the most successful Gov program ever, its surplus is stolen every year and amazingly admitted to by of all prezidente's, Bush. Greenspan's "heartfelt" pitch that increased SS withholding was designing to offset the lost of revenue in the highend Reagan tax breaks and to re-tax Joe Sixpack's share of the cuts.