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No. Go do some reading on all the charities and hospitals that were hit very hard by the Madoff ponzi scheme imploding. They had to give up millions that their
by Asparagirl 9y ago
No. Go do some reading on all the charities and hospitals that were hit very hard by the Madoff ponzi scheme imploding. They had to give up millions that their invested-with-Madoff-and-Madoff-feeder-funds rich donors had promised them, donations they had been relying on and been planning their budgets around. Worse still, in a ponzi scheme there can be clawbacks of money you “made” before and already spent, not just loss of the existing money that goes poof.
EDIT: Or, if you’re a sports fan, consider the impact on the New York Mets and their budget over the last decade.