Photo by myself on the Lower East Side.
Believe it or not, there are still a few neighborhoods that retain the flavor of old New York. The Lower East Side is one such area with very few modern buildings.
The Bernard Madoff case has hit New York hard.
Madoff, whose deceptive business dealings defrauded investors of billions of dollars, had many New York clients. Investing and finance figure prominently in this town, so everyone has an ear turned to this story. News came this week that Madoff was sentenced to 150 years in prison.
I don't know anyone personally who invested with Madoff, but I do know people who know people who did. The hardest hit are the older people of course, who were counting on their money for their retirement.
With all the turmoil these days, it's tough to contemplate the mess that a single person can create for so many others.
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