Saturday, February 7, 2009

Bernie Madoff Victim Returns to Work, at Age 90

Many have seen their retirement savings dry up as the stock market has dropped precipitously in the recession. But there are also those who were victims of Bernie Madoff's Ponzi scheme who lost everything. And one such California resident has had to return to work, at age 90.

Ben Lomond resident Ian Thiermann, 90, lost approximately $750,000 in the Bernie Madoff scam. He is, or rather was, a retired businessman and he is now back on the job working 30 hours a week as a grocery store greeter.
"I've lost everything and you have lost everything."
Fortunately for Thiermann, when the owner of the Ben Lomond Market heard the news, he offered Thiermann the job. There are many, young and old, without a job (7.6% in the U.S. as reported on Friday).

The job pays $10 / hour, but Thiermann needs the job: he still owes money on his house.

Still, he's not bitter. He said:
"You meet a situation like this, what are you gonna do, fold up? Instead of crying, yelling or being mad about it, face it and move on."

4 comments:

Indicator Veritatis said...

And unless we pass the stimulus package quickly, he will lose even that job.

Why? Because as the economy worsens, positions like 'greeter', which contribute so little and so indirectly to the bottom line, will be eliminated.

Pepe Fanjul said...

Fortunately for Thiermann, when the owner of the Ben Lomond Market heard the news, he offered Thiermann the job.

Total Protect Home Warranty said...

Bernie was a retired businessman and he is now back on the job working 30 hours a week as a grocery store greeter.

kittygoespotty said...

This can't work in reality, that's what I think.