Bernie Madoff "made off" with over a billion dollars worth of other peoples' money in his role as a trusted financial adviso in the States. Charities, learning institutions, individuals were all bilked. Some hapless folk lost virtually everything, young people had their scholarships evaporate, the marginalized became even poorer. It was a disgusting case of greed, because this was a Ponzi Scheme, using the influx of new money to pay dividends to longer term investors. Meanwhile, Madoff was using clients' money to finance a lavish personal lifestyle. Now he is jail for 150 years. Some of his victims hope he discovers the Fountain of Youth and lives that long.
Just as the first books about Madoff are published a Montreal financial advisor named Earl Jones (above) has been formally charged with stealing about 50 million dollars worth of his clients money. Among those investors are members of his own family and long-time friends. The forensic accounting work has already uncovered the theft of money to pay for private schools for grandchildren and luxurious trips.
This is the deadly sin of greed at its worst and its hard not to be angry about this betrayal of trust. These men deserve to go to jail.
It's odd but it has occurred to me that our children and grandchildren may look at us in ta similar light. How could we engage in the environmental Ponzi Scheme of lavish lifestyles, despite repeated warnings that the resources of the planet would run out sooner or later? It's unlikely that we will be hauled away in handcuffs to face trial, but we should be held accountable for our actions. It's hard to move out of a state of denial to blow the whistle on ourselves. I would like to think that there is still time for us to "make good" as God's people who are compassionate toward those around us and the generations to come.
1 comment:
That is an interesting connection between those who steal money from individuals and how we greedily use up the earth's resources not thinking of who or what is being harmed. Like those individuals who stole money and need to be held accountable (too bad there wasn't some other way besides throwing them in jail - what happens to all their money?), we also need to be held accountable as to how we harm creation. But who will do that - the government, each other, the earth, God?
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