Friday, December 19, 2008

Madoff... sounds like "made off"

I only recently heard Ponzi schemer extraoridinaire Bernard Madoff's last name pronounced correctly. All this time I've been thinking it sounded like "mad off" when in fact it sounds like "made off."

As in, "He made off with $50 billion."

I can't help but think of all these charities and foundations that had put their faith in Madoff. Sure, investing any money is inherently risky, but these people at least thought their money was being invested, not used in a pyramid scheme.

I can't help but imagine that, with all these charitable foundations drastically cutting their budgets because of this loss, there are actually people who are going to die—I mean actually lose their lives because of a loss of needed help—because of this Madoff guy. 

I also can't help but recall back in 1997 and 1998 how all these investor types and economists back in the US and Europe were lecturing Korea on its terrific mismanagement. Madoff's story is just one more reason they should've all just STFU. 

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