When Rich People Do Stupid Things

But to quote Buffett again, who once ridiculed a different group of defunct financiers:

“To make money they didn’t have and didn’t need, they risked what they did have and did need. And that’s foolish. It is just plain foolish. If you risk something that is important to you for something that is unimportant to you, it just does not make any sense.”

When people like Gupta and Madoff, who were already rich beyond belief, steal from others (indirectly or literally), you have to ask: What is the motive?

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