It's More Than The Money With Madoff's Madness

| |

It's More Than The Money With Madoff's Madness

July 30. 2012

Bernard Madoff

The case of Bernard Madoff and his appalling ponzi scheme hurt many people on different levels. As U.S. government's trustees begin plans to make financial payouts to the victims, albeit inadequate ones, as much of the money was squandered, one is reminded of the terrible personal and emotional toll the case took on innocent people.

While some feel sympathy for victims in the case, others do not. A few people have stated the victims are rich or greedy and deserved to lose their money to Madoff's mad schemes, but this is not correct. Some of Madoff's victims were charities and middle class folks that were not wealthy.

The Judiciary Report took a good look at the case and is sympathetic to the victims and here's why. For many, it was more than losing their money. It was having to come out of retirement at an old age, after decades of working hard, to take difficult menial jobs that paid very little, simply to put food on their tables. That seems quite unfair.

For others it was the loss of their children's dreams of going to university, which is sad. For some it was the loss of their business and laying off workers, who depended on their salaries to feed their families. For many it became terrible depression, after being wronged and robbed of all they had worked for in life. For others it is feelings of betrayal at being viciously deceived and defrauded by a man they thought was decent.

Society can do without such behavior and it is sad that there are more Madoffs operating in the financial sector, who have not been caught yet. The Madoff case was more than just money. His conduct destroyed dreams and people's peace of mind.

RELATED ARTICLES

Madoff’s Madness

S.E.C. Ignored Warnings About Madoff

Another Madoff Surfaces