I did think it was very interesting. I especially liked the 20/20 afterward with the secretary and DIL.
Many people who ‘lost everything’ really didn’t. They have recovered $11B of the $17B originally thought lost. They are still approving claims. These people were investing in non-secured pools. If they would have invested in secured funds (FDIC insured) they wouldn’t have lost anything, but the growth would have been 1-2%, and Madoff was ‘giving’ them 10-12%. If they had invested through another fund, there would have been big losses too. Every fund lost a lot in 2007-8. Too good to be true was, in fact, too good to be true.
The SEC didn’t do its job.