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07-16-2009, 04:52 PM #1
WOW! A decent human being inthe news?
After losing 90% of his personal net worth to Bernie Madoff, a Mass. philanthropist gives half of what he has left to his employees to restore their retirement accounts that were also lost to the swindler.
Now, he's still worth $5 million bucks, so I'm not crying TOO much for him, but to go from being worth $100M to $5M is a pretty big hit. In a lot of circles, he is no longer considered "rich."
Mass. philanthropist steps up for Madoff victims - Yahoo! News
I'm so jaded, my first thoughts were....I wonder what he's hiding?
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07-17-2009, 02:58 AM #2
- Join Date
- Apr 2008
- Location
- Newtown, CT
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- 2,153
Thanked: 586I think that is very admirable.
Isn't it remarkable how someone who is very wealthy can take a 90% loss and still be very wealthy? If I took a 90% loss I'd be down to $0.486 and probably would be on the street.
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07-17-2009, 04:52 AM #3
That man unlike Madoff had probably earned his money and knew the impact this would have on his employees, quite the stand up guy, he has a lot of respect coming.
It is easier to fool people than to convince them they have been fooled. Twain