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Brien said:

Why is it the responsibility of government to recover money you lost in a scheme. I’m sure you didn’t mind reaping the profit when things were going well. You’ll just have to suck it up, take your loss for which each and every one of you are alone responsible. Ponzi has been a scheme for many years and myself a high school dropout have been educated that there is no such thing as a quick dollar. My investments are doing fine albeit small returns lately I’m not being fooled. Most of you are probably well educated and should know better. I wish all of you well in your future endeavors – hopefully much better thought out.
- 3 February 2009 at 4:07 am
Barbara said:

Well, Brien, it might interest you to know that these were not quick dollars and shame on you for blaming the victim. The SEC gave this man a glowing review … if they didn’t pick it up, how should the average investor? Credit Suisse did an analysis of the Madoff Investment Strategy that concluded very clearly that the strategy worked. Bet you didn’t know that. Sounds like you don’t know much.
Many of us are not millionaires, not even close. There are retirees in our group, in their mid-to-late 80’s who’ve lost virtually everything. The government didn’t mind cashing our checks to the IRS every year … and I guarantee you that we paid taxes above and beyond what you’re paying. So you have “safe investments?” Congratulations and bully for you. I hope and pray that neither you nor your famiy ever ever ever has to go through anything like this.
- 4 February 2009 at 12:56 am
MadoffVictim (author) said:

I am the Madoff Victim, Ronnie Sue that wrote the original posting above.
Brien, I believe there is a major misconception about me and my investment with Madoff Securities.
Let me explain. Mr. Madoff’s company was my stockbroker.
He was a former Chairman of Nasdaq, his firm was insured by the Securities Investor Protection Corporation and most important, it was regulated by the United States Securities and Exchange Commission. The SEC condoned his business for more than 17 years after they were warned of possible fraudulent activities. (This, was unknown to the investors until December 11th, when he was arrested).
I invested money in order to maximize the savings I worked over 30 years to earn.
Contrary to what many believe (possibly as a result of misinformation on the part of the media), all my eggs were not in one basket. Mr. Madoff bought well known, Blue Chip securities (IBM, AT & T, GTE, etc). We owned securities in 30-60 different companies at any given time. That’s diversification to me.
Again, contrary to what many believe-we did not get outrageous returns. When the dot com investors were making 20-30% returns, our returns were in the high teens or low 20’s. We were earning less than many during those ‘boom’ times.
Again, contrary to what many believe-I am not asking for a bailout. I am purely asking SIPC to pay out the insurance money that is available to protect investors from fraud. I am asking for a speedy process (it took 27 days after Madoff’s arrest and for SIPC to make claim forms available to investors).
I’m also asking for a refund of taxes paid for all the years that the SEC knew of warnings about the legality of Mr. Madoff’s business but didn’t act on them. If the earnings were non-existent, than I should not have paid income taxes on them.
We are victims of Mr. Madoff, and also victims of the failures of the United States Government. We are purely asking for SIPC and the IRS to follow their own rules and regulations and pay us the money that we are entitled to in a timely manner.
I am asking for any victims of Mr. Madoff to please contact me at madoffvictim@usa.com to unite with other victims in an effort to share information and offer support during these very difficult times.
- 4 February 2009 at 2:28 am
Joe Hughart said:

What makes me angry is that SPIC;s own brochures indicate that our investments will be replaced up to $500,000. But now we hear news about the clawback and talk about a 6 year statute or possibly all the way back to the original investment date. I invested knowing about SIPC’ protection and now I sense it’s not available. And what about IRA investors who placed monies with Madoff and never made any withdrawals. How are we being treated as compared to those who made thousands or millions of dollars of withdrawals. Those people could have taken out monies far in excess of their original basis while I had never taken anything. I sincerely hope they come with a fair method of distributing the money recouped from Madoff and also they should reimburse us for the full $500,000 regardless of prior withdrawals etc.
- 4 February 2009 at 6:11 am
AndrewBoldman said:

da best. Keep it going! Thank you
- 4 June 2009 at 8:15 pm
KonstantinMiller said:

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- 6 July 2009 at 9:43 pm

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