Madoff stole from his victims

[Nick at Noon]

Now are his victims going to steal from the American taxpayer ? They are going to damn well try.

On last nights news, Katie Couric interviewed several of Madoff's victims. They all sang one song: If the SEC had done their job Madoff would not have stolen their money. Of course he would have. It's easy to steal from people who think they should get a 15% return in times when the short term interest rates are about 3%.

It appears they are now attempting to get the taxpayers to pay them out of the SIPC funds. If we people who lost our money in stocks and mutual finds can't collect -- why can they ? The people who robbed us are just as big of crooks as Madoff.

Mr. Madoff was an extraordinarily successful thief, even by Wall Street standards. But he was not really all that different than the ones we all deal with.

Somebody pointed out that the SIPC only pays up to $500,000. People who think of a half million dollars as "only" are not working class Americans.

Anyway, the old man is now in jail. Why not try to forget and forgive ?

[Uben]

1. There's a difference.....

Those of us who lost money in the market downturn (stuck me for about $300K) will eventually get our monies back when the market rebounds....and it always rebounds. Madoff stole those people's money, that's why he's in jail. Of course, none of the victims deserve a dime from the government or any fund. Their money was never invested. They were just talked out of it.

[david13]

2. My heart bleeds for these poor people who "lost"

there money to this scam artist.
They gave their money to him because of greed. They were smart and wanted what, 20%, 25%, not like us stupid people who kept our money in the bank and only get 5 or 6%, at best 8.
Now they want the government to drop all other matters and run around and get their money back for them even though they voluntarily gave, let me emphasize that word "gave" their money to him to satisfy their own greed.
Isn't it sad?
dc

[closeupready]

3. I don't know where people are getting these huge, inflated numbers, but Madoff never gave 20% or

25%; it was a consistent 10-12%.

[Vogon_Glory]

4. If Madoff's Victims Paid Tax on Imaginary Income, Shouldn't They Get Refunds?

If Madoff's victims paid taxes or estimated taxes for income on asserts that Madoff had already stolen, why shouldn't they get refunds?

[Nick at Noon]

5. If you earn $50,000 this year

and pay taxes. Then somebody steals #50,000 from you, will the IRS send you a refund check for that amount ?