DON’T FEEL TOO SORRY FOR THE MADOFF VICTIMS 03/18/2009


By Moody Adams
“I hope he rots in jail,” said one of Madoff's “victims.” There is widespread anger at the man who pulled off the biggest con game in history. There is equal sympathy for his victims. But do they deserve it?

A long time con man told me, “You can’t con people who don’t have some con in them.”

It is sad that people lost their life savings to Madoff’s Ponzi scheme, but they should have known better. No one can guarantee you 11% interest or guarantee you will never loosing money. But this is what the Madoff victims were led to expect.

“It takes two to tango.” Madoff had many partners in his greedy scheme. They all coverted unrealistic returns. They all ignored the tenth commandment: "Thou shalt not covet."

Madoff and his victims are both underscoring this Bible teaching, “He that is greedy of gain troubleth his own house,” (Proverbs 15:27).


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