No Sympathy

Madoff Investors Deserve Sympathy, Not a Bailout

Sorry, but all you had to do was ask for a prospectus and a financial statement. The Auditors Opinion was written by someone you (or any body else) had never heard of. This simple due diligence would have taken 15 minuets tops, 20 if you actually tried to find out who the auditor was. Any financial statement of a fund this large that is not signed by one of four Accounting firms is and should be suspect. If you do not know the names of these four Accounting firms you are not a sophisticated investor and should not have any money invested in other than a FDIC bank account.


On Dec 29 01:34 PM User 327530 wrote:

> It wasn't only hedge funds that he stole from. It was people's IRA
> accounts. You talk about bailing out the auto industry because it
> will at least help "regular" people. Who do you think these people
> are? Not everyone was a billionaire. But even if they were, the SEC
> turned their back and probably took payoffs. So the government needs
> to fix this as the SEC is a government agency that failed the people
> they were supposed to protect. It's a joke. So my elderly parents
> have to go back to work because the SEC slacked off and Madoff stole
> what my father worked 40 years lugging pipes in and out of asbestos
> filled basements for. You act like everyone should have known...well
> they didn't. You use an investment firm because you're not an expert.
> I sincerely hope you never have anyone steal your future.