Bernie Madoff Victims Speak Out (VIDEO)

Vanity Fair is featuring video by Stephen Wilkes of a handful of Bernard Madoff's many victims telling their stories.

There is the "penniless" Maureen Ebel of Palm Beach, who said, "I remember the day he called me and said Maureen, all of your investment worries are over."

Others complain of "the Madoff illness" they've suffered since the $50 billion ponzi scheme was revealed, and even a rabbi who says that "what he did to the Jewish community is the worst damage."

Rose and Jack Less of New York says the worst thing of all is "we have nothing for charities."

Another victim, Donna McBride of Boca Raton, said: "I want to make a point that the government let us down. And if they let me down they can let other people down."

WATCH:

Comments

[deepfreezevideo]

Excellent and heart wrenching story, beautifully photographed too.
VF is leading the pack in online video journalism.
I'd gladly pay a monthly or annual "all you can eat fee" to subscribe to it.

[brooklyncitizen]

Well maybe some of these Republicans will connect the dots now that they have been victimized.

[satyriasis]

They still haven't realized that they were conned about Iraq.

I'm sick of hearing Madoff is the biggest scammer of all time. Bush was. Hundreds of billions of dollars are missing in Iraq. WHY HAVEN'T ANY ARRESTS BEEN MADE?

[lippp]

Sad stories, but let's face it. Investing is no guarantee and inherent in that is RISK. True Madoff is a criminal by all accounts. Still it would appear inappropriate for our government to anything except prosecute this sleazy, greedy man. All those who put faith in him without diversifying must now pay for the consequences of that decision. They all knew they were giving money to Madoff to invest with no safety net. Just like a tight rope walker who chooses no net, you sometimes have to deal with the dire consequences if things don't work out as planned. Let the Buyer be ware.

[AngieMom57]

This might sound cruel, yet if you have enough money to make investments, then you better get off your high horse and the numerous illusions regarding the protection of privilege and wealth.

[impatient]

I totally agree. None of these people look like they are in mobile homes or on food stamps.

It's sad you won't be able to make charitable contributions, but there are people who need help WAY worse than you do.

[newmex031]

They could have taken out their money at any time; they didn't. To the Madoff clients who say that the government should have done more sooner, doesn't that mean that you would be in the same situation you're in now, only sooner? Am I missing something?

Sorry about your loss, but whether your loss results from fraud (you) or from the fact that you held mutual funds and stocks a little too long (many of us), it's still your loss and my loss as individuals, not the taxpayers.

Finally, I'd be more than a little embarrassed to appear in that video with the cheesy background music and the sanctimonious and hypocritical position -- the government should have done more to save me from myself.

[satyriasis]

This debacle will wake people up. Whatever protections for small investors did exist, have been gutted by Reagan, Bush I, Gingrich, and Bush II.

People though the government protected the little guy but that's only true if you ELECT people who care about the little guy. I bet these victims voted Republican most of their lives until now.

[deepfreezevideo]

No no no no....didn­'t you get "THE MEMO"??
It's all Obama's fault, even Madoff! Everything is Obama's fault or the Dem's fault!
If the Dems hadn't taken Congress in 2006 Madoff would have turned out to be honest?
Didn't you know that??????

[PhilipTaylor]

White Collar Crime = Plea Deal = Massive losses to Many!

Blue Collar Crime = Throw the Book at Them = Loss to one to a few!

Reform our COURT SYSTEM for justice according to the impact and damage of the CRIME!

[PhilipTaylor]

IT is time for EQUATABILITY in our LEGAL System!

If NOT NOW then WHEN!

Penalties in any legal CASE should be in line with the DAMAGES DONE to all Victims!'

No Matter how POOR or how RICH the Offender(s) is!

[MarciaJ720]

Sadly, our court and prison systems are based on the color of your skin, not on the crime.

[bigironal25]

Boo hoo, these poor folks!They got skinned by a guy who knew that greed is the only tool to use when you want to take a huge amount of money from people with your only goal being to make yourself FILTHY rich! As the old saying goes " If it sounds to good to be true, then it probably is"but it should say"If it sounds to good to be true, then IT IS"!I can't have any sympathy for greedy person,especially wealthy folks!

[oma89]

Google Maureen Ebel, one of Madoff's "victims" and you will learn that her savings were greatly enhanced not by working shift work as an RN, as she claims in the video, but by suing her husband's doctors. She apparently can still afford manicures and she sits in a beautifully furnished home claiming to be "penniless". Did these people never question why their returns on investment exceeded everyone else's? Their greed made them ignore all the warning signs. They loved being in Bernie's exclusive club. Saving them from their avarice is not the responsibility of the rest of us.

[impatient]

I know. as I understand it, Bernie Madoff was not exactly taking investments from people with maybe $5000 to invest.

So please. A little perspective if you please.

And by the way, why is it worse that he ripped off Jewish people as opposed to anyone else?

[deepfreezevideo]

Nothing was said about that. What the rabbi said is that Madoff has damaged the Jewish community and damaged the perception of the Jewish community.
Try watching the video again, this time without your anti-semite filter plugged in.

[asta1968]

Debate intelligence or greed in investing in funds like these, but the bottom line is clear.....­...
Madoff broke the law and didn't do it alone! Ruthie(and others)helped.
Prosecutors will take a deal in exchange for knowledge on exactly what he did and exactly how he did it(Note: prosecutors will take the deal, not Madoff, he'll be the one making the deal). The Gov't can't afford to pay the forensic accountants to figure it out.
America's record against white collar criminals is pathetic. When will the law recognize that this crime can lead to even more serious(vi­olent)crim­e. WC criminals need to go to prison with 'regular' felons. They might think twice about their actions if they thought they would be serving time/sharing cells with armed robbers, rapists and gang members...­maybe not, but I'd sleep better.
Do you think Ivan Boesky lives in poverty now? He doesn't (little poverty in Bedford, NY). How about Lay's widow? She's pretty comfortable.
We don't tell rape victims 'you deserved it' because they got drunk, or put themselves in the wrong situation. The rapist was the one who chose to commit the crime.
Madoff stole more than money. He stole security, retirement years, medical treatment. Would you steal from orphans? Madoff did. Would you steal from Nazi death camp survivors? Madoff did. Would you steal from the Church/Temple? Madoff did and feels no remorse for it...After all, Ruthie has just under 70million to keep the family comfy.
I think it's disgusting.

[frantaylor]

If your money is not insured by the FDIC then it might just as well be sitting on a craps table.

[Dave27]

Or in a Credit Union. It's something, both the FDIC and Credit Unions came with FDR, and they're safe.

[trudyjh]

Right. These people went after non-guaranteed abnormally high returns, and they never exercised caution? Who was born yesterday?

Who hung out in exclusive country clubs looking down their noses at people who weren't "good enough" to get into Madoff's business?

I am sorry for some of them, but we're looking at the consequences of greed on both sides here. And forget "the government" bailing you out - I don't want my tax dollars going to people whose careless greed got them into this situation.

[ravencalling]

I do feel bad for the fact that these people have lost their life's work. However, is it not any more heart wrenching to see everyday people losing their life's savings in their 401Ks? And to those that talk about diversifying - well yeah, most who have taken that advice are diversifedly broke. So is the point here that we are supposed to feel more sorry for those that had they not invested with Madoff, been wealthy enough to escape the fate that has befallen most less well to do Americans? That their plight is somehow more extreme or more sad because their fall was more pronounced? Madoff should be in jail, I agree. These victims plights are unconscionable - I agree. So are the rest of our plights. We are all victims. Now these people who had attributes that put them in a special club, need to show the worth of those attributes by rolling up their sleeves and helping to get our country back to a country that is for all of the people instead of just a few.

[RRoadrunner]

Very, very good. You've hit the nail on the head,

[Dave27]

There are a bunch of bankers and financial "wizards" who should be behind bars.

[Joshua Sophy]

Madoff has agreed to surrender his assets. Here is more information on the story: http://www.newsinferno.com/archives/4901#more-4901

[merger]

This is truly difficult watch. I am so sad for this people, and I am equally furious with a system that allowed this to happen. Madoff is and was a snake oil salesman and that is all he ever was or will be.

[dadw5boys]

MADOFF --- GLARING PROOF THAT THE MORE MONEY YOU CAN STEAL THE MORE RIGHTS YOU HAVE .

[dadw5boys]

If you get ripped off it is hard for people to help you if you do not have a listed Phone Number.

Being UNLISTED can hinder others from helping you in desperate times.