We all know Madoff is guilty as hell and his Ponzi scheme defrauded plenty of individual investors and charitable organizations (not less greedy than Madoff himself). At this time of public unrest, when people are finally asking for accountability and justice, the media is throwing us a bone; CHEW on Madoff and forget about the ones that allowed for such crimes to take place. The only head that ever rolled was Madoff’s; all other financial gurus got rewarded with more millions in bonuses and retirement parachutes while millions around the world lost their life savings. To appease the outrage of millions, in the last few days the media is revamping Madoff story in an attempt to show that there is some kind of “justice” after all and crimes do get punished. Are they kidding us?
Stacie, Sure they are the "victimes"... their life of indicent luxury come to an end and now they are crying poverty and heart break.
I am taking issue with the MEDIA (20/20, Good Morning America, 60 minutes) who are ONCE AGAIN trying to divert our attention from what is really important; the OWS movement as a vehement protest against the corruption and greed of the financial sector. Madoff's crime amounts to $20 billions (which is a lot), but we are talking at least 10 times that much for bailing out an industry that is still rewarding its managers with millions for having bankrupt the country (and the world for that matter) That's what I am talking about!
In the private sector, if you spend your clients money instead of investing it for them and then payoff old investors with new investors money, it is called a ponzi scheme. Doing the same thing in the public sector is called Social Security. In either case, anyone who runs these scams should be in jail.