The 10 Greediest People of 2008
By Sam Pizzigati
Too Much: A Commentary on Excess and Inequality and AlterNet
We probably couldn't have picked a better year than 2008 to so "honor" our most avaricious. This year's stunning economic meltdown has fixed the attention of our entire nation -- and world -- on the grasping antics of those who yearn for ever more than they could rationally ever need.
But this year also presents enormous challenges for anyone bold enough to rank the greedy. With so much greed out there, how could we possibly limit our list to a mere ten?
The latest greed explosion to hit the headlines -- the $50 billion Bernie Madoff Ponzi scheme -- illustrates just how difficult a task ranking the greedy can be.
To whom in this scandal should we award the most greed points? Bernie Madoff himself, the 70-year-old who scammed his wealthy friends and charities to keep up his credentials as a Wall Street investing "genius" -- and maintain a $6 million pad in Manhattan, a waterfront mansion in Palm Beach, and a weekend getaway on Long Island?
Or should those greed points go instead to the ever-so-sophisticated hedge fund "middlemen" like Walter Noel, who built a five-manse fortune by steering clients to Madoff and charging them tens of millions in "due diligence" fees for the steering.
Or should the greed points go to Madoff's investors themselves, the swells who pay $250,000 a year for the privilege of belonging to a swanky country club?
So many choices! How about James Cayne, the Bear Stearns CEO who rode toxic securities into billionairedom? Or Angelo Mozilo, who took the same ride at Countrywide Financial, spreading suffering to subprimed families all along the way?
In the end, we came to realize, the size of the fortune alone doesn't determine greed. It's the thought that counts. In that holiday spirit, we hope you find our top ten greedy list of some interest -- and greed-busting inspiration.
To Read the List
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