RiskAverseAlert

Madoff's Investors Don't Deserve Compensation or Sympathy

First, "Diversification" is NOT "Investment 101." Read Gerald M. Loeb's "The Battle for Investment Survival." Let someone who lived through the Crash of '29 and subsequent bloodbath correct this bit of misinformation. You want to talk "propaganda?" The "balanced and diversified" mantra is it.

Second, the Fed and Treasury have TRILLIONS for "structured finance" gangsters who are no less guilty of perpetrating a Ponzi scheme dwarfing Madoff's by several orders of magnitude. Most folks who invested with Madoff were not terribly sophisticated investors. They should be made whole because those whom they believed were watching the hen house were, in fact, in on the fox's wink and a smile.

That the investing public is largely unsophisticated is more than spoken for by your "Investment 101." That compassion is missing in speaking about a fraud whose life should have been ended long ago (because its existence was in all probability known), speaks for the terrible problem America faces when opinion-makers reveal themselves as ripe for fascism.