Certainly, just a mention of the name Bernard Madoff is BAD PR for the stock market. After all, Madoff was even the former chairman of the Nasdaq Stock Market. Mr. Madoff has plead guilty to charges he stole billions of dollars from investors around the world.
How hurtful is Madoff to the U.S. economy? Well, the new problem is the desire of people to want to invest in stocks is dead. People don’t trust what Madoff did and unwilling to invest in stocks. This is a major PR problem for the stock market and one not easy to make go away.
My advice to the Stock Market, launch a major PR rescue campaign in a hurry! Do something believable and get some everyday REAL people who are actually making money in the stock market. There are tons of people who turned to the stock market to make money in this recession bound economy. Wow us and show the real everyday stock market success stories.
I sure hope the stock market recovers soon!
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