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May 20, 2013
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 Wealthy Investors Lose Fortunes in Wall Street ScamPosted on Dec 13, 2008
Although the full extent of the damage from broker Bernard Madoff’s alleged super-swindle has yet to be determined, it’s clear by now that the collapse of his vast pyramid scheme may spell utter disaster for several of his top investors—some of whom might not know yet that they’re broke.
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Global Capital and the Nation State
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By April, December 27, 2008 at 11:45 pm Link to this comment
(Unregistered commenter)
Take a look at the names of the Boards of Directors of the charities who have lost money in the Madoff scandal. Many of them are the same CEOs who are receiving millions of dollars in bonuses while their companies go bankrupt.
Charities are part of our economic system, and just as tainted.
Report thisBy Maani, December 23, 2008 at 5:19 pm Link to this comment
Well, it was bound to happen…
http://www.rr.com/view/content/story.cfm?storyId=6452213&view=HOME&newsgroup=9000&sSect=HOM_1
Peace.
Report thisBy KDelphi, December 20, 2008 at 11:22 pm Link to this comment
The article would make some sense of his sons “turning him in”...wouldnt it?
Report thisBy Fadel Abdallah, December 20, 2008 at 3:17 pm Link to this comment
In reference to the Israeli connection to Bernard Madoff’s scandal, please read the article at the following link:
http://www.effedieffe.com/content/view/5626/183/
Also, Robert has posted two or three articles related to this matter under the threads relevant to the Madoff’s criminal activity.
Report thisBy Maani, December 17, 2008 at 3:45 pm Link to this comment
Mukasey just recused himself from the investigation:
http://www.rr.com/view/content/story.cfm?storyId=6418200&view=HOME&newsgroup=9000&sSect=HOM_1
Peace.
Report thisBy KDelphi, December 17, 2008 at 2:49 pm Link to this comment
Anyone who believe that these wealthy people (not the charities, probabaly) will not get alot of their money back—lay me bets. Right here.
The wealthy Congress and president will cook up something for them—just hide and watch—lol!
samosamo—no, they wil not go after the rich guy. They never go after the rich guys. They just accept casmpaign donations.
Alof of them proabably have investments in Dubai, contractors in Baghdad, etc, that they are not revealing. The trick is, I guess, pretend that you are rich—-you will be treated as if you are, and, be given MORE money!
As they say, you need money to make money, and it has never been more true. Even “connections” are falling apart.
Congress will set us all up like bowling pins again. Just watch. I suppose I should add that, if I lose—I dont have any money…
Folktruther—But, have you seen some of the pics at some of those websites? They sent me running to the bathroom!
Report thisI am serious—very disturbing!
By Folktruther, December 17, 2008 at 1:25 pm Link to this comment
Fadel is bascially right about Jews, although posisbly not about charities. The simple fact of the matter is that there are a lot of rich Jews like Madoff who have links to other rich Jews who are influential in controlling large parts of the US power system.
Although the Zionist NYTimes maintains their usual silence about it, the LATimes details some of the links to other big Jewish investers. If there were a God in heavean, that would buy them another couple months before they went bankrupt.
Like most multi-billionaire Jews, Madoff was an ardent Zionist and supporter of American Zioinst institutions. He was also a Democrat, no doubt a big Obama supporter.
There were specific reports of his fraud to the Security Exchange Commission, who assigned a lawyer to investigate who literally was in bed with Madoff’s daugther, whom he later married.
The Bushites staffed all the regulatory agencies with people from the corporations they were supposed to regulate. The consequent corruption of the US power system extends to the highests levels, not excluding the presidency.
However, in order to find this stuff out, I have to read the anti-Semtic blogs where the facts are interspersed with vitriol and lunacy. And as Samosamo stated, there is no doubt more to this story. I find it very suspcious that the two sons turned in their father, the two sons being corporate executives of the same firm. And letting the guy go with 10million bail strikes me as way to little.
We’ve got to distinguish clearly between anti-Zionism and anti-Semitism and talk frankly about these matters. God knows the progressive media won’t.
Report thisBy musicrider, December 16, 2008 at 8:37 am Link to this comment
Pity the sad hedge fund people who closed factories, cut wages, robbed pension plans and/or 401k’s and now have also lost.
I feel as sorry for them as I do for those that invested in the Pacific rim and now find their jobs have moved there.
Does anyone else sense a kismet moment here?
Report thisBy Fadel Abdallah, December 15, 2008 at 10:00 pm Link to this comment
With stories like these, there can be no doubt that the Wild West is in need of a competent sheriff.
And as an educational footnote to the above statement, I would like to share with the Truth-diggers that the word “sheriff” is derived from the Arabic “Shareef” which means “an honest, honorable and trustworthy overseer” as opposed to foxes put in charge of the chickens’ shed.
Report thisBy Fadel Abdallah, December 15, 2008 at 6:52 pm Link to this comment
“Mr.Bernard Madoff as a citizen of both the US and Israel and that he served as the finance man for Mossad’s spy operations in the US since the 1960s.”
======================
I thought Bernard Madoff sounded a Zionist with some frightening connections! I didn’t want to speculate about the identity of such a thief and criminal before it was brought up by other sources.
Now that we know who he is, I just want to say:
Report this“Shame on you America for continuing to allow Zionist-Mossad agents to wreak havoc with America’s politics and economics!”
By Blackspeare, December 15, 2008 at 6:06 pm Link to this comment
Not to worry. Those wealthy individuals who lost substantial amounts will be able to deduct their losses on their federal tax returns under the Casualty and Theft provisions. And don’t forget that in all pyramid schemes those people who get into the scheme early make money. And as for the alleged culprit you just couldn’t make up a more appropriate last name!
Report thisBy samosamo, December 15, 2008 at 5:07 pm Link to this comment
Since the izraeli/jewish subject has been opened, I have been wondering if they will go after this guy and his operation to reclaim their money just as was done to the germans since the end of wwII. And with the screacy of money that could just be another way of some people getting double the return on their investments. Just a thought
Report thisMoney, probably no better way to destroy the world than to make it, as it has been done, as the most important thing ever.
By omop, December 15, 2008 at 4:50 pm Link to this comment
A website covering in specific detail news from only ten notable nations on a daily basis inluded pointed references to Mr.Bernard Madoff as a citizen of both the US and Israel and that he served as the finance man for Mossad’s spy operations in the US since the 1960s.
Given what has been taking place on Wall Street and the fact that Governor Spitzer who had warned Congress back in February 2008 about an upcoming economic Tsunami had to resign his Governorship within a few months after because he had availed hisself of a hooker’s services working for a world wide organization with outlets in London, Paris, Tel Aviv along with DC and New york makes one wonder if the conspiracy guys may have finally hit pay dirt on this so-called Ponzi schemer.
More than likely other contributors will add their views on 2008 in review and tie-ins the Blago Governorship to the Palin one.
Exciting and interesting times in America.
Report thisBy KDelphi, December 15, 2008 at 3:31 pm Link to this comment
Ed Harges—I am sure you read in the newspaper Sunday, as I did, that we give more MILITARY aid to Israel than to any other country—
We give 70% more “foreign aid” than we did when Dubya took office…this does NOT include the Iraq and Afghan “wars”. (Invasions for naught)
Israel received $2.4 billion, virtually all used to buy weapons, 75% pf which were MADE IN TH USA! U-S-A! U-S-A!. (our biggest—and practically only—export!)
Beginning in 2009, the uS plans to give $30 billion to Israel, over 10 years.
How in hell can we do anything for our own people at that rate?! And, can someone please explain to me , why Israel, out supposed “biggest ally”, never joins us in any military escapades? If someone has dual citizenship, who is their loyalty to?
Report thisBy richard roe, December 15, 2008 at 2:10 pm Link to this comment
(Unregistered commenter)
The real kicker is that this crook who defrauded hundreds of people out of $50 billion dollars, quite likely will have to pay a penalty of only $5 million and get a slap on the wrist.
Funny how no banks in the Cayman Islands are having troubles…
Report thisBy Maani, December 15, 2008 at 9:26 am Link to this comment
Fadel:
You make an excellent point re the phrase “anti-Semitic,” since Jews are not the only Semites. Indeed, there is no question that Jews have co-opted this phrase. But that doesn’t mean you, as a Semite, can’t be “anti-Jewish” (and I don’t mean ONLY anti-Zionist). You may or may not be, but you are correct when you tacitly imply that that would be a more accurate phrase.
Re “turning the other cheek,” you are wrong that there are no Christians who practice it. I do, and I know many other who do as well. And I mean this in the most literal way. Of course, this does not preclude such Christians from having opinions, expressing those opinions, and debating those opinions in a respectful (and even passionate) way.
Re “an eye for an eye,” I am sure you realize that this is a Judaic phrase, not a Christian one, despite the fact that “Old Testament Christians” (such as the so-called “Christian Right”) have adopted it. Too many Christians ignore the fact that Jesus’ words and ministry “modified” many of the old Judaic laws. [You can find this at Matthew 5:21-48] Indeed, Jesus makes it clear that “turning the other cheek” REPLACES “an eye for an eye”:
“Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” (Matt 4:38-39).
Note that this was not just a “suggestion” or pretty words: it was in the form of a “command.” There is no question it is extremely difficult to live up to this standard, and I’m certain even Jesus did not expect everyone to be able to do so. But it was the “baseline” from which He expected people to at very least CONSIDER their actions, attitudes and approaches in this regard.
Peace.
Report thisBy Robert, December 15, 2008 at 9:20 am Link to this comment
(Unregistered commenter)
Mr. Abdallah, your latest message in this thread
Report thiscontains one of the most infamous antisemitic canards
of all time viz: “How can I be an antisemite, I am
an arab, arabs are semites, how can I be an anti-semite?” Simple obfuscatory logical
fallacy. I would have thought you would not
resort to using such an old and transparent canard
since you apparently wish to appeal to careful reason.
By Ed Harges, December 15, 2008 at 9:05 am Link to this comment
Madoff made off with some big Jewish charity funds, including some benefiting the state of Israel. Meanwhile, with the economic downturn, a major ultra-Zionist donor, casino magnate Sheldon Adelson, has cut way back on his donations to Israel’s settler movement and to racist organizations like “birthright Israel”.
I’m sure the American people will now be told we most cough up even more “aid” to wealthy Israel, even as we undergo economic collapse.
Actually, the American people will probably not be told anything. Lavish new funding for Israel will surely sail through our Israeli-occupied Congress- if it hasn’t already - with zero debate and no mention in our Israeli-occupied media.
Report thisBy Fadel Abdallah, December 15, 2008 at 8:50 am Link to this comment
To Maani and Robert:
Of all the people who post on Truthdig, I believe I am the only one who cannot be accused of Anti-Semitic. The reason for this is that I believe I am a more pure Semitic than all the Jews who come from Europe or America. I cannot be at the same time for myself and against myself. So if some can play the anti-Semitic label as a blackmailing technique, rest assured that this does not work with me.
If Zionists want, among other things, to manipulate the “Semitic” term for themselves as a blackmailing tool, then I cannot do anything about that except continue exploding their myths!
Report thisBy Fadel Abdallah, December 15, 2008 at 8:31 am Link to this comment
By Maani, December 15 at 6:07 am #
“So are you suggesting that it is okay for YOU to be racist because others have been racist toward YOU? You may want to rethink that position.”
=====================
You know, Maani, that even though Christians were taught “to turn the other cheek,” in reality no Christian practices this principle.
I personally oscillate between two value system: one is Arabic which states that “nothing blunts steel but steel.” The other one is Islamic which states that “it’s nobler to be forgiving.” As a human with my own weaknesses and strengths, sometimes I follow the nobler way. However, other times I follow the the law of equity and meet an insult with an insult!
What is your position on the Biblical dictum of “An eye for an eye.”
Peace!
Report thisBy Balthasar, December 15, 2008 at 7:52 am Link to this comment
(Unregistered commenter)
The capper is the greedy Fred Wilpon asking NYC for more money and tax breaks to build his “Citi Field” (Citigroup Inc.). Is there anything more repugnant than that? Perhaps only the billionaire mayor granting him the money while cutting city services. You’ll see, this will happen. Another NWO Ponzi scheme in the making. “Here you go morons, cheer for your hometown team while we rob you blind. Everybody loves a winner!”
Report thisBy Maani, December 15, 2008 at 7:07 am Link to this comment
Fadel:
“This is the proverbial example of the pot calling the kettle black. For so many years I’ve been the victim of Zionist racism. Wasn’t it the United Nations that once passed a resolution saying that ‘Zionism is racism?!’”
So are you suggesting that it is okay for YOU to be racist because others have been racist toward YOU? You may want to rethink that position.
Peace.
Report thisBy Fadel Abdallah, December 15, 2008 at 4:10 am Link to this comment
By Robert, December 14 at 9:18 pm #
(Unregistered commenter)
It is one thing to have a principled position
Report thisregarding civil rights in Palestine, it is quite a
different thing to spout blatant antisemitic canards
as does “Fadel Abdallah”.
This web site should not countenance the kind
of racist diatribes which Fadel Abdallah
has spouted in this thread.
==============================
This is the proverbial example of the pot calling the kettle black. For so many years I’ve been the victim of Zionist racism. Wasn’t it the United Nations that once passed a resolution saying that “Zionism is racism?!”
By walldizo, December 15, 2008 at 3:01 am Link to this comment
(Unregistered commenter)
For those who followed the evening news of Baghdad and have seen the tragicomedy show of Bush dodging shoes thrown by an angry Iraqi,would have certainly known how has the surge succeeded in calming Iraqis down.At first glance, it may seem unpatriotic for an arab to recieve his guest with such ferocity, but then it was unchristian too for the devouted Bush to deceive and lie not to the Iraqis but his own people.This may have no direct linkage to the on- going scandles among wealthy Zionist and their greedy associates, but it definatly an expression of the peope’s will to punish those who made it possible for the thieves to become the masters of the game.
Report thisBy KDelphi, December 15, 2008 at 12:22 am Link to this comment
Nothing to do with Jews, or any other race/religion, for that matter to me—but, arent “non-profits” getting away with not paying any taxes, while collecting a lot of money?
Doesnt it just become a big tax shelter? I thought Biden said that paying your taxes was patriotic?
BTW—When we are “fighting the war on terror” (right) and bankrupt—yes, I think people should pay their taxes…especially the rich.
PE Obama sets that at—what is it, $250,000 now? Actually, $154,000 puts you in the 95th Quintile..I’d place it alot lower. But. they are not reversing the tax cuts anyway now, are they…
Report thisBy veronica mutans, December 14, 2008 at 8:13 pm Link to this comment
(Unregistered commenter)
fadel, you are scary. nonetheless, just thought i’d help you understand american nonprofit organizations. nonprofits are allowed, and many do, have large endowments. it’s a smart way to run an organization, as long as you make prudent judgements about how to invest. proper investing helps assure future viability, so that you don’t havr to live month to month. take for example, harvard universities endowment. it is one of the largest i know of. many tens of millions if not more.
chill out the jew bashing. thanks.
Report thisBy Fadel Abdallah, December 14, 2008 at 5:32 pm Link to this comment
“Those likely to have lost everything include a Jewish charity that had its $7 million assets lodged with Mr. Madoff’s firm, and had to lay off its staff on Friday, and Manhattan and Florida socialites.”
=====================================
What kind of a Jewish charity is this that had $7 million srrplus assets it wanted to increase through investment?! I understand that a charity must spend what it gets from donors as it gets the funds.
I once worked for a non-profit and we were running month by month budgets. In other words, we were working month by month with what we take in. There were months that we were not paid because we didn’t have the funds.
I am also wondering why Jewish organizations, profit or not, and Jewish politicians and business people always factor in when there are political or economic scandals and irregularities when they only constitute the tiny minority of 2.5% of the American population! Is this part of God’s fate for them as the “Chosen People” of God?!
It seems to me that I am going to spend the few years left of my life asking questions that no one can answer!!
Report thisBy KDelphi, December 14, 2008 at 4:59 pm Link to this comment
samosamo—That makes sense! Gawd, I hope I havent gotten so used to criminals getting away with it, that I dont even expect then to be held accountable anymore! Well, actually I dont…lol
But, that being said, where is this basterd’s cash, houses, yachts, etc? WHY can we not confiscate these criminals possesssions and sent them to prison? They do it to “drug dealers” every day…
And HOW does Dubya get to build a new palace in Dallas (that rhymnes—so does warmonger and whoremonger), and we get screwed for life?
Report thisBy samosamo, December 14, 2008 at 1:49 pm Link to this comment
There is actually something not quite right about this whole story and there must be a lot of money stashed away. The ‘ponzi’ scheme may be as simple as it has been described but there has to be more to it than just taking money from a new investor and paying out an old investor. There is a link missing somewhere and I suspect some nice offshoring of money by madoff someway.
Report thisBut very interesting that his son’s turned him in to the law. Now if some of those other richies would turn in their parents.
By msgmi, December 14, 2008 at 12:14 pm Link to this comment
(Unregistered commenter)
The SEC oversight is a sham. They’re only good for long lunches, a Martha Stewart type media headliner and slapiing the wrists of the Wall Street scheemers. SEC Chairman Cox has been derelict in his duties since he took office.
Report thisBy KDelphi, December 14, 2008 at 11:42 am Link to this comment
I agree with most of what is here. What I cannot understand is how these people stay out of prison, while others sit for years, for growing a little pot or stealing enough money to eat…
This is NOT a “democracy”.It is also not a “free market”. It is an intl joke…and we are the butt of it, all of us.
If it has not effected you yet, it will. The poor have been living in Hell for many years.
These people need to go to prison and have all of their assets confiscated and distributed.
Report thisBy Maani, December 14, 2008 at 11:05 am Link to this comment
Somehow, I just can’t muster alot of sympathy for rich people who lost money in a scam they should (and could) have known about. (Though I do have sympathy for the non-profits whose endowments were destroyed.)
Where was this kind of response when thousands of “regular” people at Enron lost their pensions and 401Ks, leaving many without retirement funds, and some of them outright destitute?
Nope. No sympathy for the wealthy. Sorry.
Report thisBy Pat R, December 14, 2008 at 10:05 am Link to this comment
(Unregistered commenter)
The closure of Linen N Things has been reported by employees as a similar occurrence where it was owned by Countrywide, and who lost all their money, causing the closure of 11 of those businesses including the layoff of all employees, most of whom have no jobs to go to.
If the head of Countrywide is in the same boat as Madoff, something should be done about the problem of losses with impunity without oversight, regulation, and penalties for widespread economic negligence - more similar to Enron and Worldcom than not. Glass Steagall or something like it should return in force to monitor the financial community and prevent such melt downs, i.e., redistribution of assets vehicles.
Report thisBy G.Anderson, December 14, 2008 at 9:56 am Link to this comment
I guess that means we’re all in the same boat.
However the idea of Nicola Horlick, having to face a daily deluge of angry bill collectors calling her at work and at home, garnishing her wages, destroying her credit, putting a lien on her house, forcing her to have weekly garage sales, and ultimately making her live in a tent city somewhere on the edge of town, might have more of an impact on her economic views than just loosing a little money.
That’s what we do to the victims of our corporate credit crooks here in the good old USA. Those evil neo con carpet baggers, who are making a killing, on credit card debt, and bankrupcy reform.
All those campaign donations they made to the republican party sure paid off, for them..
Report thisBy Fadel Abdallah, December 14, 2008 at 9:37 am Link to this comment
Amid all the continued terrible economic news for the main street people, this piece of information is a welcome news since it equalizes the dirty greedy rich with the miserably poor and disadvantaged.
Previously, I used to say that physical death is the greatest equalizer, now I can add that the economic death of extreme capitalism is another great equalizer!
Report thisBy Steven, December 14, 2008 at 8:37 am Link to this comment
(Unregistered commenter)
John Lowell, you should be ashamed of yourself as for all you others on this post enjoying the misery of others. You have become no different from those you claim to abhor.
Madoff deserves everything coming to him and probably more. But victims of his scam, charities et al should not receive scorn for simply investing money. As for someone like Dean Velvel, why does he “deserve” to lose his money. Do you know anything about him? Just because he earned and saved more money than you he gets what he deserves, losing all his money. Please, the real criminals in this whole debacle are the likes of Greenspan et al and the government which let them. It’s as old as the cliche itself, the foxes were guarding the henhouse. Man, even the corner bookies in my old neighborhood knew they had to cover their bets, or else end up with some broken bones.
Report thisBy Purple Girl, December 14, 2008 at 7:22 am Link to this comment
Don’t tell me No One on WallStreet Knew what this guy was doing. hell they probably acted like love sick school girls when he graced them with this presence. Hell look What adulation Greenspan has been granted for decades! some may even still hold tightly that Greenspan’s logic was ‘flawed’, and he was just a victim of circumstances. Tell US Alan what is the historic record on economies based on a trickle Down concept…How many Monarchies have fallen, Dictatorships, even theocracies. FYI an economy,thus a People, can not survive on ‘Trickles’.
Report thisNo doubt there are many people who knew what he was doing, and even some who followed his example. apparently Paulson and Berneke failed to back hoe money into that hole fast enough to conceal the ‘body’. 50 billion ah…did they calculate that one in already, or will it be another excuse to ask for more to try to replenish the empty coffers.
Of course attempting to replenish what they Stole is far less frightening than if they are just double dipping…coffers are dry, We need more money. I personally fear that we have not only been handed a bill, but our ‘Piggy Banks’ have been pilfered too. Are our 401k’s, annuities, penison statements nothing but paper-Are they entirely Gone too?
And yet the MSM will roll another day of innuendo and ‘rabbit pulling’ to continue the BS ‘connection’ of the Obama team to Blogo. Please try covering something which really effects our daily lives.
By hippy pam, December 14, 2008 at 6:53 am Link to this comment
I just CAN’T feel sorry for these people bitchin’ and moanin’ about losing money….Not when MANY people I know have lost EVERYTHING due to “the bullshit bunches” lack of ethics-When you got 3-4 homes and 3-4 cars and you lose 1-2 you STILL HAVE SOMETHING…..I know FAMILIES ON THE STREET who have nothing…..These people DESERVE TO LOSE IT ALL-and they would KNOW HOW “the commons” feel…....
Report thisBy walldizo, December 14, 2008 at 5:28 am Link to this comment
(Unregistered commenter)
This is the price we pay when greed takes hold of our senses.Its not the first nor the last crisis that will ever take its toll, yet it seems that nobody is learning the lesson.If the US continues to spend lavishly counting on China or the Gulf States to bail it out, then a real catastrophy is awaiting the world.Time is certainly mature enough for a true departure from capitalism into a human based economy where necessities are fullfiled and no place for scarcity.Those who have accumilated and roped other’s wealth and caused this crisis, should be held accountable regardless of their affiliation or religion.
Report thisBy samosamo, December 14, 2008 at 2:37 am Link to this comment
The last people in the world I grieve over for their loss here are those hedge fund managers. And any hedge fund manager that doesn’t have a tidy nest egg offshored somewhere would seem to me to be a lot less smarter than they appear to be.
Report thisBy Libarchist, December 14, 2008 at 2:35 am Link to this comment
By KDelphi, December 13 at 11:52 pm #
The rest of the planet will never trust Wall St again—and well they shouldnt.
_________________________________
It is so deregulated that—generally—only a few insiders can benefit form it.
Report thisBy KDelphi, December 14, 2008 at 12:52 am Link to this comment
The rest of the planet will never trust Wall St again—and well they shouldnt.
Report thisBy John Lowell, December 13, 2008 at 10:51 pm Link to this comment
(Unregistered commenter)
Reading the expanded version of this report in the Independent, one is entertained reading the reaction of client, Lawrence Velvel, Dean of the Massachusetts School of Law, to the news. Velvel, who suspects he may have lost millions, opines:
“This is a major disaster for a lot of people,” he said. “You work all your life, you finally manage to save up something, and somebody who’s entrusted with it, it turns out suddenly he’s a crook. Lots of people are getting fully or partially wiped out.”
I’m sure life has been a struggle for Dean Velvel, an ordeal of self-denial replete with jars full of pennies and other small change in them. While no one condones the chicanery of Madow, this kind of self-pity from someone with at least a six figure annual income turns stomach. While not a believer in the reality of poetic justice - too many like Madow get away with their schemes - one notes with a certain pleasure the fact that not all of the self-satisfied must await their comeuppance in the hereafter.
Report thisBy Ron Ranft, December 13, 2008 at 7:40 pm Link to this comment
(Unregistered commenter)
As they say, what goes round comes round. The sharks are feeding on the sharks. As hard as I try I can’t seem to find any sympathy for rich people who don’t produce anything, don’t live in the real world, and who buy and sell nothing real. Theirs is a world of smoke and mirrors and tax shelters. It also proves that rich people can be taken advantage of just as the people who are now loosing their homes because unscrupulous lenders lied to them and convinced them that they could afford what they could not.
Sorry if Superwoman turned out to be not so super but welcome to the real world sweetie!
Report this