“NOT Victims!
They are greedy sacks of crap. They suspected/KNEW he was doing something wrong/illegal and they “invested” with him anyway.
They deverve NO sympathy whatsoever!”
Excuse me, but many of these are banks and large legitimate investment firms who were entrusted with the savings and monies of totally innocent people who had never heard the name Madoff until they were wiped out.
Individual, bank or “legitimate” investment firm (of which none have existed since it became legal for them to “double” as banks). It makes no real diffrence.
GREED is still behind their decisions to “invest” with this man. They saw the HUGE “returns” and obviously failed to do any real research into what was going on with Mr. Madoff.
And it DEFINITELY appears that no one’s Mommy or Daddy taught them that if something appears to be too good to be true, then it IS too good to be true.
And “Banks and Legitimate investment firms” couldn’t see this coming from a mile away???
Freakin’ PuuLeeaassseee...
I saw this crap coming 5-6 years ago, and invested accordingly. I read the fine print and studied the trends, saw that unsustainable levels of debt creation were running rampant. You had to KNOW nothing good was going to come from it.
Also, it’s happened TIME AND TIME AGAIN throughout history. It’s RIGHT THERE for review, Laws’ land scam, “not worth a Continental”, Tulip mania, The Roaring 20’s, etc... but most people buy the BS that “it’s different this time”, or “there’s a new paradigm”.
The Banks and Institutions intuitively knew this was coming, they just thought there’d be enough chairs left when the music stopped that they [individually] would have a seat...