The more I read about this, the more amazing it gets. This guy was operating as a well-respected financial manager to some very smart people and the entire operation was a fraud.
He’s a con man on a world class scale.
It seems many of his investors were Jewish and he trolled in the Jewish community for clients. I would suggest that this story should help dispel the Jews control financial markets myth. A lot of Jews just got royally screwed.
On another level, though, Madoff’s Jewishness seems to have played an important part in enabling him among other Jews. This is a world, it has become apparent, where you can’t trust anyone. Even someone you think is one of your own. It’s an important lesson for all of us.