BIG outgo and Little income.
Grand Opening for the Bridge to ???????????????? Does Colorado Springs really need the United States Olympic Committee? Is the city prepared for the “Influx” of tourists? Parking? Public Transportation? The new Transit Center. Really? Giving away the City Auditorium? Plus other assorted topics.
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These are four older Jewish men who were really kind of father figures to Bernie. They were great friends in addition to being big investors. There’s the famous story about Levy on his deathbed telling his children, “Trust Bernie. Trust Bernie.” They come to him. He starts investing for them. He claims that at first he was making them legitimate money, but at some point, certainly by the early ’, it’s a full-blown Ponzi scheme. They are taking out hundreds of millions of dollars. They’re taking out billions of dollars in some cases, and for Bernie, that was an enormous pressure. It’s at this point that the Ponzi scheme starts to slip out of Bernie’s control. Steve talked with a lawyer named David Sheehan who spent the past 10 years trying to recover money for people who invested with Bernie.