As you wonder why ANYONE fell for the #FTX scam, it’s greed. Several of my NC neighbors gave our local “Ernie” Madoff hundreds of thousands of dollars from their retirement nest eggs based on promises of a 25%+ return. Each of them was introduced to Ernie by a trusted friend, golf buddy, or fellow parishioner. Yeah, they lost everything. These were not naive rubes; they’d had successful careers and retired in comfort. They thought they were more clever than the rest of us. They weren’t.
@cassandra17lina: Yep.
They got played for suckers by people they knew and trusted. Often how it goes.
Seen it a lot over the decades.
Trying to talk them out of it while they're under the influence of the (however well-intentioned) grifters or fellow suckers is almost invariably futile, I've found. It only gets them irked or angry at your raining on their parade and gets them dug deeper into the grift. It's like trying to warn them they're dating a hustler/grifter/predator, i.e., pointless.
@cassandra17lina: Alas, people do this to themselves, almost invariably. When I was I my twenties I got played for a mark by cons a few times. I was, of course, super naive as well, which didn't help me. I spotted the pattern soon enough, though, and it was very simple, and I understand but still don't get why people don't see it (or ignore it when they do see it).
@thedisasterautist exactly right, and very well stated. At least one of my neighbors ended up having to take a part-time job to make up for his losses… great start to retirement. Meanwhile, he and his wife bought a “mini-Aussie-doodle” designer dog from a breeder for several thousand dollars. My two shelter mutts (combined adoption fees of $265) can only roll their eyes as that crazy dog and his hapless owner zig-zag along the sidewalk, out of control.