It would be a horrible precedent to bailout the Madoff victims.
If the government pays off these people, why shouldn’t the government compensate the victims of smaller con games, emails from Nigeria or street crime as well? Not only would it cost untold billions, this kind of bailout encourages the perpetrators, as the only real victims become the taxpayers.
To the Madoff investors, I’m sorry if they got ripped off- but it wasn’t me so too bad. They can sue and see if they can get it off of Madoff- good luck.
To open the Madoff “door”....pretty much means the end of our ability survive as a nation financially. The bankruptcy of America...that we kinda hoped to avoid...will be fairly close. 2009 would then promise to be worse than even the 1930s. The SPIC fund will be non-existent within months.
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What about everyone who lost a dime in a casino? They need a bailout also.
What about Enron? That fiasco ruined lots of people’s lives and they didn’t get their money back. People lost their entire pensions, etc.
My guess is, this is being discussed as it is the very wealthy and influential who got scammed by this creep Madoff. If it was the little guy, it would be tough luck sucker.