Why hasn't someone killed Madoff?

**Da Skinna** · February 07, 2009, 09:43 PM

http://cbs5.com/local/elderly.madoff...bx.cmp=AFC-San

Ben Lomond Madoff Victim, 90, Returns To Work

Ian Thiermann, 90, lost over $700,000 in an alleged Ponzi scheme run by investor Bernie Madoff.

Imagine working your whole life saving for retirement, then having your life savings disappear. It's reality for a Ben Lomond man, who at age 90 is forced back to work to make ends meet.

Retired businessman Ian Thiermann is back on the job working 30 hours a week as a grocery store greeter.

Like thousands of people across the country, Thiermann invested with Wall Street financier Bernie Madoff, who is accused of allegedly running a $50 billion Ponzi scheme. Thiemann said he has lost all of his $738,000.

With house payments and medical bills piling up, Theirmann said he had no choice but to go back to work for $10 an hour.

Theirmann said, "You meet a situation like this, what are you gonna do, fold up? Instead of crying, yelling or being mad about it, face it and move on."

When the owner of the Ben Lomond Market heard the news, they offered Thiermann the job. Because in a grocery store, energy, attitude and punctuality can matter more than age.

"This is not a, woe is me, kind of man," said Barbara Loffer of Ben Lomond Market. "This is a community coming together and helping each other out in times of need."

After his first day on the job, the bosses gave him the next day off, because aftera ll, he's going to be 91 in May. They gave him a chair, because they figured he couldn't handle standing for six hours a day.

Thiermann was born in 1919, when Woodrow Wilson was president. He has lived through the Great Depression and all the wars since World War II and he sees no point in being bitter.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

**~~Yosemite~~** · February 07, 2009, 09:54 PM

yeah i saw the same on tv, a woman lost like 1 million in savings for the retirement, she worked her whole life she was about to retire, bam one phone call from this and it's all over

**~~Exarch~~** · February 07, 2009, 09:58 PM

this is BS
i hope the bailout goes into supporting these ppl as well, especially if they're90!!

**bushbush** · February 07, 2009, 10:01 PM

there are things in this world that's too good to be true.

we all gotta learn lesson from this.

**jankren** · February 07, 2009, 10:17 PM

Playing stocks is the same as gambling. I dont feel sad for people who are idiotic enough to gamble their entire saving and lose everything. Do you also feel sad for people who lose millions of dollars in Las Vegas? I dont think so. They knew the risk and they took it and they lost. Its simple.

The people whom I feel bad for are the innocent lowly people whose lives are affected by all these greedy gamblers.

**Trey** · February 07, 2009, 11:19 PM

Originally Posted by jankren

Playing stocks is the same as gambling. I dont feel sad for people who are idiotic enough to gamble their entire saving and lose everything. Do you also feel sad for people who lose millions of dollars in Las Vegas? I dont think so. They knew the risk and they took it and they lost. Its simple.

The people whom I feel bad for are the innocent lowly people whose lives are affected by all these greedy gamblers.

You clearly have no idea what you are talking about. There are many many people who have made money in the Stock Market. Gambling, not so much. There are many many laws regarding the stock market. Madoff scammed them out of there money.

Of course they knew there was a risk. But that risk shouldn't entail flat out thievery. So yes, you should feel bad for them because many of them were lied to and now have nothing.

**Da Skinna** · February 07, 2009, 10:23 PM

They got taken by the largest Ponzi scheme in history... nooot really the same as Vegas.

**jankren** · February 07, 2009, 11:19 PM

Originally Posted by Da Skinna

They got taken by the largest Ponzi scheme in history... nooot really the same as Vegas.

Getting cheated is part of the risk of gambling your money in the stock market.

You clearly have no idea what you are talking about. There are many many people who have made money in the Stock Market. Gambling, not so much. There are many many laws regarding the stock market. Madoff scammed them out of there money.

Of course they knew there was a risk. But that risk shouldn't entail flat out thievery. So yes, you should feel bad for them because many of them were lied to and now have nothing.

Im talking about people who bet most if not all of their life savings in the stock market. Only insane idiots do that. Its similar to playing Russian roulette.

**Trey** · February 07, 2009, 11:45 PM

Originally Posted by jankren

Getting cheated is part of the risk of gambling your money in the stock market.

Im talking about people who bet most if not all of their life savings in the stock market. Only insane idiots do that. Its similar to playing Russian roulette.

First part, not really, as getting cheated is illegal.

It is a bad idea. But as you said only idiots do that. You should still feel bad if they lost a significant amount of their money.

**Hunter Makoy** · February 08, 2009, 05:17 PM

Originally Posted by jankren

Getting cheated is part of the risk of gambling your money in the stock market.

uh, no. You risk losing your money if the market goes down, but having someone make off with it is not part of the 'risk' of getting into the stock market.

Im talking about people who bet most if not all of their life savings in the stock market. Only insane idiots do that. Its similar to playing Russian roulette.

Alot of people put most of their savings into the market, but they tend to be young. At 24 I can afford to have all of my retirement in the stock market. If something happens, I have plenty of time to make it up.

Now why a bunch of 90 year old had everything riding on one guy in the market is beyond me. Some people just get taken though.

**Panzer42** · February 08, 2009, 12:34 AM

Playing stocks is the same as gambling. I dont feel sad for people who are idiotic enough to gamble their entire saving and lose everything.

Getting cheated is part of the risk of gambling your money in the stock market.

So should we also not feel sorry for anyone who gets in a car accident?
They knew there was a risk they could be involved in an accident. They knew of this risk and still continued to drive a car. And, if the person who was injured happened to be injured by a drunk driver or someone who obviously breaking the law, then too bad, maybe they just shouldn't have gotten in their car.

**~~gojira~~** · February 08, 2009, 12:40 AM

Why hasn't someone killed Madoff?

Well, that would be antisemite- he pretends to be a jew, as this other zionist pack that runs our nations.

**Zephyrus** · February 08, 2009, 01:57 AM

Originally Posted by Da Skinna

http://cbs5.com/local/elderly.madoff...bx.cmp=AFC-San

I would, but 'tis illegal. And I'm rather partial to not getting horribly molested in a prison cell by Bubba the convicted murderer.

**roy34543** · February 08, 2009, 02:14 AM

Why hasn't someone killed Madoff?

Well, that would be antisemite- he pretends to be a jew, as this other zionist pack that runs our nations

It would be anti-semitic because other jews are proud this guy is jewish and scammed dozens of other jews? i dont exactly see your point .
Noone has killed him because you dont just kill people for being greedy scum, Youd have to do something much worse then a ponzi scheme to be considered beyond redemption, people who get caught up in ponzi schemes never expect them to get this big, but it happens.
Anyway, First rule of playing the stock market - Diversify! You dont keep all your eggs in one basket, I cant believe how many people did not follow this essential rule!

**Maverick** · February 08, 2009, 03:01 AM

Originally Posted by roy34543

Anyway, First rule of playing the stock market - Diversify! You dont keep all your eggs in one basket, I cant believe how many people did not follow this essential rule!

Was it ignorance or greed? I think the returns were just too good.

**Admiral Piett** · February 08, 2009, 02:42 AM

I don't think the term is "killed", I think its "offed". Especially if he's done this to the wrong family.

**~~removeduser_487563287433~~** · February 08, 2009, 02:56 AM

Something about two wrongs not making a right.

**roy34543** · February 08, 2009, 03:04 AM

Was it ignorance or greed? I think the returns were just too good

ultimatly its probably due mostly to apathy, Dont investigate the guy, dont bother to put your money elsewhere, and apparantly he was the kind of person with an appearance that you tend to trust.
If i understand correctly he gave returns of 10%, thats beyond belief. that means in 9 years and a bit youve doubled whatever your given him, and when your talking sums like 20 million thats unbelievable.