Editor’s note: All credit for the title goes to the very funny Kathryn Saldanha. She’s surprised no news people have used it yet.
Today Bernie Madoff is being tried today for losing $65 billion of investor’s money in a scheme, and now faces 11 criminal charges, up to 150 years in prison and $170 billion in restitution. This scheme has been going on for two decades, and not once did investors question how they would get a promised 46% return on their investment – which is totally unheard of.
Now, all the greedy people are mad. You turn on the news and you see wealthy Floridians yelling at reporters that nothing could be done to Madoff that would make them feel better about losing hundreds of thousands of dollars, maybe even millions, in this investment scheme.
Sorry folks, I don’t feel bad for you. Your greed caused you to chase after a too-good-to-be-true investment, and now you’re paying the price. I’m sure your lifestyle won’t change that much, since you’re completely loaded and have multi-million dollar houses anyway.
Granted, I’m generalizing. I’m sure there are people that don’t have much that will suffer from this. But for the most part Madoff’s investors were high rollers.
The Grave Truth
It’s only fitting that this morning I spent time meditating on Psalm 49, which is all about the reality that we take nothing with us when we leave this life. People are out there chasing fame and fortune – there are cities and streets named after people – but what does that profit you when you die. Nothing? In fact, your name will be forgotten among the generations.
More than that, the pursuit of all things self-glorifying also robs us of true wisdom, understanding, and the fullness of life, for this life and the next. The psalmist says that God will reach into the grave to redeem the soul of the upright, but the man who chased after his own praise will be consumed by the grave. His glory won’t follow him, he will be left with nothing.
I can’t help but think of the despair that chasing money and fame causes in this life. Those people lost hundreds of thousands of dollars, maybe millions. That’s probably more money than I will make in my lifetime, and they are completely distraught. We are in an economic downturn that has led people to the point of killing themselves because they’ve lost their job, they money, and now believe they have nothing left to live for. What a sad, desperate picture of people chasing things that won’t follow them to the grave.
God, that we would chase after the redemption of our souls and not the riches of this world.