Who's a Bigger Idiot?

Bernie Madoff.

Hilarious.

Now, I've done plenty of business in the past with his NASDAQ market-making arm and been ripped off a penny at a time, but this fraud really takes the cake!

13% a year, risk free? Well - which one is it - 13% a year OR risk free? No such thing as both! You want risk-free in this time period? Treasuries or CD's at 3-4% is where you would have been at. If you were too stupid to see through this ruse, too bad for you...

Now there's talk of a "bail out" by the SIPC (and also the government once those funds are tapped out)? You HAVE to be kidding me! "Hey - I lost a couple hundred grand owning some great value stocks - I want to be paid too! AND I actually DID MY HOMEWORK, so I want all my losses in full".

Screw you - you rolled the dice and crapped out, no money for you!

On that note the GM/Ford/Chrysler triumvirate needs to get run through Chapter 11. Bob Johnson Esq.'s motto of "you work with your hands, you gets minimum wage" is the lesson to be learned here - $70/hour pay packages are for those of us that busted our asses in school/college/grad school and have to wear a suit and tie for a living, not the clowns that turn wrenches because they were too drunk and stoned in high school to know how to do anything else.

Same goes for everyone in their respective Department of Horrible Car Designs, as well Senior Managerial Cronies of the UAW - kicked to the curb!

Ideally, the government would split them up like AT&T, creating 10 new independent car companies under a number of badges, run like the Japanese company's plants in the South. But no - there will be a bailout (as a fixed income trader at Cantor mused, "bailing out insinuates that the problem will be fixed"), flushing MORE taxpayer money down the drain while those of us that actually work will be forced to pick up the tab...AGAIN!

Ugh, I need a Valium and a quart of Jack now...