With Madoff now in cunstody and probably a few more in the wings in the

financial world next, just what is it we as the citizens of our respective

countries effected by this fraud supposed to do when the rest of the banks

fail. The probability that every major bank in the free world will be

effected by this fraud and nearly all of the pension funds we are all

invested in. When the banks crush all of our credit and those of our

employers, does anyone here have an answer to what we will be able to

do about it. I ask because so many here, including me, are gloating

at the chance to see the perpetrators of these scams get caught up in the

fallout. Could it be actualy possible that an entity or group will come forth

and continue with the house cleaning or will we just be thrown to the

ground and told to fend for ourselves? Its a sticky question and one that

we should be thinking about. Its about the 9th inning and 2 outs folks. The

fat lady is already singing and its off key!! Any sugestions?


Zindo

Personally, I am just going to sit back and enjoy some cold ones. Obama promised he had the answers, so I am going to take it easy and let Obama show me how he will fix everything. I might even do some more fishing to take that stress off that I will be feeling from watching Obama on TV all day explaining what he did and why it is needed. Other than that and taking out my last few bucks from the bank, isn't really much I can do. The powers to be have already decided what they wanted to give me and further complaining will only make my throat hoarse. Don't need that, I enjoy them cold ones.

MY pension fund was not involved. Neither was MY bank. My pensions are doing just fine, as are my investments.

Only those that were really greedy, and forgot all of the principles of investing would have been involved with someone like this.

NOBODY can possibly promise the kinds of returns that this guy did. It is absolutely impossible to sustain that level of earnings over time. But the ones involved were greedy, and wanted to get the best of the deal. Sop, they kept putting in more and more of their money, and they got taken.

Keep in mind the old adage, "You can't cheat an honest man".

I do not feel the slightest sympathy for anyone that got ripped off in this deal. They deserve what happened to them, because they didn not use their brains, they let their gtreed overcome them.

I'm bumping this because it actually shocks me (!) how people are just rolling over for this. The "What are we supposed to do?" attitude with which people are accepting this is just unbelievable.

If ever there was evidence of a shadow banking system - this is it. What was the rumor last summer? "Dark Pools of Liquidity? More like the toilet.

Could someone please point me to the thread that talks about THAT conspiracy with relation to this bombshell incident?

Hell, I want "Direct to Consumer" Fed loans at .5% interest rate. Why the hell not, that is what they are providing the banks and they are hoarding it, raising the interest on credit cards, bilking the hell out of us!

Let the people REFINANCE our credit debt, mortgages, car loans, and student loans at THAT rate... why should the banks be allowed to play middleman... Let US go right to the source! Why not, no credit check needed... it's REFINANCE existing debt only so it isn't new debt.

Now THAT would kick-start the economy... how much more money would we have to spend??

Screw the banks... Direct to Consumer Loans for the win!

Oh... I am sorry.. our junk securities market is based of the people having debt and banks charging interest.... Can't let those bankers not make as much money.

Originally posted by ZindoDoone
When the banks crush all of our credit and those of our employers, does anyone here have an answer to what we will be able to do about it.

Zindo

I thought we covered that today in our other forum?