Bernie Madoff’s lucky number, AIG’s unlucky owners

Good day for betting on losers, Bad day for protecting your investment

GOOD DAY FOR: Betting on losers, after New York City construction worker won $1,500 by playing the last three digits of Ponzi schemer Bernard Madoff’s prison number in the state’s lottery. “Somebody had to get a little lucky with him,” said Ralph Amendolaro, 50, who earned a 16,000 percent return on his $9 investment. Instead of investing the money, he plans to spend it in Las Vegas. (New York Daily News)

BAD DAY FOR: Protecting your investment, as an AIG competitor said that Congress’s vilification of the bailed-out insurance giant has driven away customers and employees alike. Loews Corp. CEO James Tisch, whose firm owns 90 percent of insurer CNA Financial, said the flare-up over the AIG retention bonuses was prompting A- and B-list employees to move to greener pastures. “It’s helped CNA, but it disappoints me as a taxpayer,” he added. (Bloomberg)

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up