| Most of the people who lost their fortunes to Madoff are not the gazillionaires you describe. They are professionals, doctors, teachers,etc. who worked and invested their retirement accounts with his firm. The uber-rich clients for the most part may have lost millions but the loss will barely make a dent in their net worth. I know this because I know some of them on both ends of the spectrum. There are also charitable foundations with significant investments that supported things like public schools, homeless programs and other organizations that have shut their doors because of Madoff. Millions of charitable dollars have disappeared and it touches thousands of the poor who need these services. Madoff got what he deserves alright. |
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