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WWL: The Madoff Affair
Where We Live - with John Dankosky
Aired:
05/12/2009
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The colossal Ponzi scheme

 

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49:00 minutes (23.52 MB)
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Bernard Madoff is now behind bars--serving time for a massive fraud that cost investors $65 billion.  The Madoff Affair, a new Frontline documentary will air tonight at 9:00 on CPTV.  Coming up, Where We Live, we'll talk with producer Martin Smith about the program, which traces Madoff's story back to the early 1960's, through SEC investigations in the 1990's, and ending in the dramatic revelations of 2008.  We'll also check back in with Fairfield city officials about how Madoff's crime continues to affect that community.

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For more information about tonight's broadcast, go to CPTV.


 
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Affected by Madoff

I had been with Madoff from mid 1980's but my dad was with him since 1970. Everyone talks about Madoff and the flags and whether it is Ponzi the whole way or from about 1992. We've all been hurt, especially the direct investors. The big shots - feeder funds should have done the due diligenjce.

The problem is past. The government is bailing out the world YET the person now who can help, the trustee, Mr Irving Picard, is refusing to act and help. It was brought out that he was given 28 million dollars for his project. He has recovered money but his other project was to give money or authorization to the SIPC. He is NOT. Of the 6,000-8,000 claims submitted, Mr Picard has forwarded only 30-50 claims to SIPC.

He is who we should be concentrating on. The is for the future - stop talking about the past and how we have gotten so hurt.