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Have any of you Monday-morning quarterbacks considered that the SEC (hence, the "government") did not do its job and is therefore culpable? They were presented with damning evidence (which just became available to the public) but they investigated and found nothing wrong (see the following Associated Press link for an SEC-Madoff history: http://www.google.com/hostednews/ap/article/ALeqM5iIXcRJuIjbkGKM5GT0txn4-1CJowD95H7FI80).<br> <br> I know of a number of knowlegeable, savvy folks who did their due-diligence into Madoff before investing. Madoff was a well-respected, experienced broker on Wall Street with a long (30+ years) history and background that made him eminently credible. After all, he was a past Chairman of NASDAQ and had revolutionized Wall Street by developing electronic trading.<br> <br> He did not promise his investors outrageous gains; just steady, medium-risk investment growth. Nothing to hint to the regular investor that there might be a problem - ESPECIALLY, since the SEC had "blessed" his operations.<br> <br> There are an awful lot of regular people, retirement funds and charities who have been devasted by this scam who could never have seen this coming.<br> <br> The folks who blew it at the SEC need to be held accountable for their mistakes but that will probably never happen.<br> <br> 20/20 hindisight is great - but, when you invest, who CAN you trust???<br> <br> For those of you who have tried to save some money (not you wealth-envy types), where do you think is a good place to put it? You need at least 6% per year to keep up with current inflation and taxes just to stay even. (Watch out, though. With all the big, new Government spending projects, inflation is going to skyrocket ....)
By Bob
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