“Your Money’s No Good”

Once upon a time, the expression, “your money’s no good” was the highest sort of compliment.

That’s what the bartender would say to a decorated vet ordering a drink, or the restaurateur to a pillar of the community.

Now, it’s what New York City hair salons, restaurants — and, apparently, would-be landlords — are telling Ruth Madoff (all of whom are declining her business).

To be sure, what underlies this isn’t moral disapprobation, but pure business considerations: no business proprietor wants to risk alienating their other customers by serving a notorious scammer, just as no one wants to run a gauntlet of paparazzi every time they leave their home (ask Madonna about trying to buy a deluxe New York co-op).

However, on some level, perhaps this attitude reflects the return of an old-fashioned response to heinous conduct: collective shunning, also known as “ostracism.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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