Granted, no one who was defrauded by Bernard Madoff's ponzi scheme deserved to be victims of his criminal acts. However, the saying goes 'anything that's too good to be true, usually isn't'. This was an investment promising consistent returns - and consistently high returns - in good times and in bad. Anyone thinking beyond trying to make an extra buck could have seen that something was amiss. Ben Stein has a great column here discussing the greed and stupidity of Madoff investors.
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