Sunday, November 15, 2009

Madoff's auction

More on Mr. Madoff who seemed to become an epiphany of the Wall St. tycoons of late- recent auction of his personal possessions gave us a glance of his hyperexuberant lifestyle. Among other items is his wristwatch worth of $85K.
What I don't understand about all this is why people like him needed to keep on buying these items? He proved that he is "wealthy" many times over to all of his acquaintances and to himself many, many years ago, so no matter how he dressed, where he lived or what wristwatch he wore he still would've been thought of as the financial titan. I can't explain this by any rational means. I guess, it was pure greed...
Recently I visited that part of Europe that never been rich, and just recently became flush with cash. There most of the people would judge the degree of your success purely by the clothes you wear, the car you drive, and... you guessed right, the wristwatch you wear! Stories of your interesting, challenging , accomplished and, overall, happy life matter not to them. And I sort of understand them- they grew up in abject poverty, and now all the external attributes of wealth are perceived as success in life.
But to see the same logic emanating from the educated, albeit criminal, financial tycoons of the modern Western world??
The only saving grace in all of it is that Wall St. is not Main St.


http://www.msnbc.msn.com/id/33917333/ns/business-us_business/

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Money Magnet Mummy said...

Hi, great blog. I wonder how much of the riches in that country are perceived? I would walk around looking like everyone else, wearing a copy watch from Asia, carrying a designer copy bag from a market somewhere, and designer clothing from my local second-hand shop. Sure, I'd be rich.

Payday Loans Online said...

It is not just greed it is what the Romans described as the love of having increasing by having.


A physical manifestation of the greed in man.A natural law which has remained unbroken.