As a lead-in to the new HBO original movie "The Wizard of Lies" detailing the fall of Bernie Madoff, CNBC is showing Madoff, a four hour miniseries that originally aired in 2016. Madoff is compelling viewing, like watching a train wreck in slow motion. You know the outcome (150 years prison sentence), but you can't believe the sheer chutzpah that propels Bernie to that point.
I was NOT one of Madoff's victims - my assets would have been less than chump change to Bernie - so I was able to be dispassionate in my viewing. Would I have fallen for Bernie's calculated approach? Bernie dangled a golden carrot, but insisted his victims beg him for it. He was a master of playing hard to get. Once he reeled in his victims, he kept them ensnared by building pseudo trust. Their trust in him. That he would keep their money safe and growing. Wrong. Bernie was only looking out for Bernie.
What did I learn from Bernie? Trust no one but myself when it comes to my money. I don't believe in fairy tales or pie in the sky promises. I believe in banks and FDIC insured accounts.
It's YOUR money, it's up to you to keep it safe.
Moral of the story? Those who play hard to get may not be worth getting.
Penny Pincher
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment