Reply #1: Where did the money go? Oh, to be a forensic accountant!

[Tansy_Gold]

Bernie Madoff doesn't have it. Or at least he doesn't have all of it. Some of the loot he took in was eventually "returned" to some of the investors, or at least that's the way a classic Ponzi scheme works. So I imagine the forensic accountants will be tracking down just who got "returns" on their investments and how much they got.

After all, depending on when they began investing with Madoff, some of these investors may have been getting "payments" for months or even years, and if the stories already told are accurate, those who received anything at all were getting proceeds higher than the market average.

Any individual or "institutional" investor, like a charitable foundation or a retirement fund or whatever, that puts all its eggs in one basket is KNOWINGLY going for the big payout and not for safe investing. I don't care if it's Elie Wiesel, Rigoberta Menchú, or Osama bin Laden -- if you put ALL yoru funds in one place, and that place is femous for its unusually high returns, then you're knowlingly sacrificing security for the fat bottom line.

I have no sympathy. None at all. But I'm also aware that the media is NOT revealing that some of these investors did in fact receive at least part of their investment back.



Tansy Gold, who really does have a difficult time feeling sorry for billionnaires