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SEATTLE, Dec 12, 2008 (BUSINESS WIRE) — Hagens Berman Sobol Shapiro (HBSS) announced it is investigating the investments and perpetrators of the Bernard Madoff Ponzi scheme on behalf of investors. HBSS is investigating the potential for a lawsuit on behalf of investors after news broke the long-standing investor was arrested and allegedly charged with billions of dollars in securities fraud, and their general partner informed the investors that their investments were with Madoff.
When I first heard about this on the new I was in total shock. 50 billion in estimated losses is what was reported. Thousands of people for decades has trusted Madoff to invest their money wisely for their retirement or financial future, and what happened they find out that the company has been a fraud since the beginning. Lately every time you turn on the television or open the daily paper their is something new about wall street being in trouble for mismanagement of funds. It worries me that their has been so much damage to the economy already because of lies and schemes such as this one there will be no more trust left. Can America really start over and rebuild our great country with no trust in wall street?
I have yet to answer my own question because I’m skeptical of everything now. It’s not a good feeling for me to have. Is it just me over reacting or do I have good reasons for feeling this way? I would love to hear your view on this matter. Drop me a line or two and tell me what you think. To read more about this article click the link below.
Hagens Berman Investigating Madoff Ponzi Scheme on Behalf of Investors - MarketWatch.
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Robin Green | December 17th, 2008 at 11:43 am #
People are wondering why this economy is in the hole, well this my friend is a prime example of what is wrong with it. What really makes me furious is the fact that the Government agencies knew about this and did not do enough investigation to shut it down. There is no telling how many companies are doing this very same thing. I look to see the stock market fall even faster with the news of this crime. No one is trusting the system anymore because it is so full of criminal behavior. JMO
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