Joyce, read the info from the link you provided and saw nothing there that would have dissuaded anyone from Madoff Investments - the article was about
opinions on electronic trading which was a wholly separate, successful and well-run Madoff operation that had nothing to do with his Ponzi investment
scheme.

Chuck, remember that Madoff Investments weren't publicly available (invite only or through "connections") and that was part of the scheme. Most all
investments were made because a "friend" was so happy with their results that the new investor often begged them to help get into the plan. I don't disagree with personal liability for personal actions - just that the SEC did not meet its charter. Still, fraud/theft is quite different than a poorly-performing investment ....

BTW, have heard from a lot of Madoff investors and not one had any concerns since the gains weren't "crazy" and the transaction information always appeared to be valid. Just look at the list of heavy investors - plenty of very bright financial people. This wasn't about "greed" as much as stability and
risk-abatement.

The SEC is not just responsible for "regulating." It is also responsible for investigating potential problems and that is where it fell woefully short. As a result, since there are at least 8,000 claims that are going to made to SIPC for recovery, SIPC (funded by brokers) will be drained and the SEC will have to cough up a billion dollars to further support the claims (still only enough to handle 4,000 claims). The SEC will then have to go begging to Congress for another $2 billion to satisfy the claims - all because the SEC did not do its job. If you are interested in this matter, here are some "good" links on how the SEC failed:

http://online.wsj.com/documents/Madoff_SECdocs_20081217.pdf
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/15/AR2008121502971_pf.html

Bob commented on the responsibility of the SEC on regulating. Yes it is responsible for that, but not responsible for the money invested, that lies with each individual investor. The concept of individual rigthts also bears with it individual responsibility. There were plenty of investors that passed on Madoff and had the same information as the people who lost. Some just were lucky, but I am sure there were plenty who weren't comfortable with the situation.

This is from the Washington Post 1993: You can find more if you look. Everyone who had half a brain knew this guy was iffy. Sorry for the long link, hope it works for you.

http://pqasb.pqarchiver.com/washingtonpost/access/72137247.html?dids=72137247:72137247&FMT=ABS&FMTS=ABS:FT&date=APR+14%2C+1993&author=David+A.+Vise&pub=The+Washington+Post&desc=A+Broker+and+the+Angry+Exchanges%3B+Bernie+Madoff%27s+Stock+Buying+Rivalry+Irks+NYSE%2C+Amex&pqatl=google

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).

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.

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.

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.

The folks who blew it at the SEC need to be held accountable for their mistakes but that will probably never happen.

20/20 hindisight is great - but, when you invest, who CAN you trust???

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 ....)

MR MADOX AND HIS SAME ILK CONSPIRED THE WHOLE PONZI SCHEME TO RIP OF THE REST OF US.THEY HAVE BALLOONED THE GROSS AMOUNT TO DOUBLE THE LOSSES.

The thought of these clowns having access to tax dollars is nauseating.

Happens to be that those investors might conclude federally sponsored ponzi schemes are OK - case in point, social security!

Okay... really folks... What’s the big deal here?

What’s so different about what Bernie Madoff did with the money given to him voluntary by those that DIDN'T know it was a Ponzi scheme and the Federal Gummit's Social Security System where EVERYONE INVOLUNARILY has money sent to ITS Ponzi scheme?

Adakin Valorem
Edisto Island, USA

They Better hurry if they want the bailout. Bush is only in office for a few more days. After that, I doubt Obama is going to be bending over for the super rich.

It really wouldn't surprise me if the Madoff victims were also given a hand out. Its just what goes now in this new undeniably socialist U.S.S.A. Those of you who voted Obama/Mccain opened the flood gates for this. There really shouldn't be any complaints from the Obama/Mccain crowd. Its just of a showing of what America has become, and an indicator of where its going (bankruptcy). Paulson was given the authority to do what ever he wants with the bailout cash without having to answer to any court. The best we can do now is hope for some politicians who have actually read their workers' handbook (the constitution) to come along. Gary Johnson in 2012?