Watch the 1st min & 20 sec . Even Michael Scott realizes in the end that it’s a scam!
3xJOw
+1. This really has been the most interesting thread I've read in a long time.
I'd like to sound off and say that in my opinion it is absolutely incorrect for any "Kli Kodesh" to go ahead and make investment decisions like this. Most institutions are suffering these days. My wife was just told she can expect her paycheck to be held until after the yomim neoraim. I feel for these institutions. But that is no excuse for having mud for brains (trying to keep it clean).
Getting a real financial education does not come over night. It takes years and years of work. I have a bachelors, masters, cpa, many years of successful investing experience and work within a very large mutual fund company and I still have trouble analyzing risk/reward on investments. What I do know is that decisions to invest donated money should never be taken lightly. I believe there is consensus to that point on this forum.
I don't think these institutions should be outed point blank but on the other hand this needs to end because I don't know how this isn't outright theft of donated money. There seems to be a very clear problem in our community of sheer stupidity which is evidenced by "knowitall102" and that phone message. Again, I believe there is consensus to this on the forum.
The obvious question is how do you explain to someone who has minimal experience with earning a living or dealing with the outside world that there are certain "rules" like looking both ways before walking into traffic?
Ultimately I believe it is up to the Gedolim to start talking about this but they aren't and because they aren't these issues keep persisting. It really is so disappointing to hear these sad stories of bnei torah falling into these financial traps. It's disappointing because I like to see myself blissfully naive and whenever I hear these kind of stories I have to think twice the next time I write a check.