Socialites Face Ruin as Ex-Nasdaq

Well, the Rich and Famous are going to get a little taste of the current economic environment.

 

Forgive me for this but at least he swindled the wealthy. For some reason it doesn't bother me as much.

 

Perhaps it should.

People purchasing things keeps our economy goin'.
And it isn't poorer people who are doin' that
purchasing now-a-daze, --- except for necessities.

Just because one is wealthy doesn't mean that
they can afford to lose a lot of money. What we
don't need now is more poor people.

 

Poor, poor folks. For most of them it means they will have to cut short their ski trip to Aspen. Only a week instead of 10 days.

 

Remember when when $50,000,000,000.00 was considered a lot of money?

 

The scams have been around since day one of the stock markets and when this one is all but forgotten to the next generation, another scam artist will come along.

 

That's fine.
By them bein' there for "only" a week, will help
stabilize the local economy and keep a few more
folks employed.

 

Exactly. It's wrong that they got scammed, and even more so because they had no indication of it, unlike the email scams about winning a foreign lottery or something else.

Where I grew up, I was very familiar with the effects of tourism on the local economy. My family ran a restaurant in one town, and we had couple of summer tourist destinations along with a couple of ski resorts for the winter. Granted, it wasn't Vail or Palm Beach, but we definitely had things in the area to draw tourists.

 

A winter ski resort in Palm Beach?
Musta been water skiin'.