[xtinct]

Fairfield Greenwich Fund along with ALL the rest of the people/organizations gave their money directly to Madoff personally. There were no accounts set up by his firm like traditional investments according to a financial report I heard on the radio Saturday. Only Madoff was involved not his firm.

Additionally, these greedy people didn't bother to find out how they were getting these large returns... due diligence...

And, now that they've lost all their money because of stupidity, they are crying foul.

Madoff is a criminal but these people did not check the situation out.

[hunter112]

Madoff is a criminal but these people did not check the situation out.

I'm sure his firm issued phonied up "statements" showing year after year what people "had". Can you be any more sure that the statements you get from your 401K, your bank, or your credit union are not equally worthless paper and ink?

I'm reminded of those silly statements the Social Security Administration issues that tell me how much money I'll get per month if I retire at 67. It's all BS, and anybody who believes it is a fool. I have to say the same thing about any financial statement these days, there were some mighty sophisticated people who got bamboozled by this fraud.

[Boiling Pots]

They really weren’t getting large returns...they were just steady freddy 10-15%, always.