"I think there should be some legislation," he said finally. What kind of legislation?Watch out! That means he wants taxpayer money! What he was hoping for, he said, was that the government would set up a fund for Madoff victims — maybe give them 60 percent of their losses, he suggested.Why stop at 60%? How about the taxpayers just give you back 100% - and in turn you all donate a few more millions to Democrats, just like you did before. We turned a corner, and saw a long line of people waiting for a spot in the courtroom — far more people, it was obvious, than could ever fit in the chambers. (There was a large overflow room, where I watched the proceedings.) Most of them were holding notebooks; this was clearly the media line. "Is there a line for the victims?" the man asked the marshal. "Are you a victim?" said the marshal. As the man nodded yes....I've got news for this jerk: "Victims" in courtrooms are people whose daughters were raped and murdered. "Victims" are not rich Democrats who foolishly gave all their money to another rich Democrat who paid them back an annual return in the double digits every year. They all knew this was a sham.
Many of Madoff's investors have been left with nothing, having foolishly entrusted their life savings to a man they thought "was God," as Elie Wiesel put it not long ago. Wiesel's foundation lost more than $15 million in the Madoff fraud, and he and his wife, Marion, lost their personal fortune as well. Well, that't the problem, isn't i? God is God. You can't serve two masters.
I feel sorry for these people, but we shouldn't bail them out. If you give those people more than the SPIC coverage allows, then you got to bail out all people that were/are over the FDIC limit when their bank went under, etc...