Well she certainly doesn't deserve to be compensated by the SIPC for her investment in Madoff's fund. All us other investors certainly don't deserve to have our confidence in the SIPC's ability to protect us and cover us lowered due to payouts to undeserving recipients. There is a remedy provided by law: sue Madoff. If she is deserving she can prove it using that avenue.
Copeland you @nus with legs, what issues does Firefox have? I use it all day with a minimum of fuss. Clearly you are a mentally handicapped anti semite.
Well RE was clearly and out in the open a ponzi scheme. You could see the greater fools for miles. Madoff was hidden.
It all depends on who lost money. In this case, there are simply too many powerful, wealthy jews, to avoid this bailout.
Of course these people didn't deserve to get ripped off. They also don't deserve to be compensated beyond any legal sipc limits. I'm sorry for anybody who gets ripped off by a despicable con-artist, but this bailout crap has gotten way out of hand. Sadly, there will likely be more similar situations coming as people scramble to get their $$ out of hedge funds, maybe not to the scale of this scheme, but only time will tell.
A trustworthy financial advisor would tell not to put her entire net worth with one broker/firm. but than again her financial advisor was madoff invesments. SIPC would need to raise the limit it covers like 1 million dollar cash. I don't see how these firms can run away with 50 billion and radar didnt catch it. I mean SIPC is insuring this firm.
President of SIPC testifies that they're only funded to 1.5 billion, so looks like taxpayers are on the hook for that too. How can they advertise that trillions of dollars worth of investment is "insured" when all they are funded to is 1.5 billion? Do you know where your funds are? Or how solvent your broker is?