"...any investors who withdrew cash from the hedge fund run by Bernard Madoff before the $50 billion fraud was discovered could be forced to return their original investment and any profits." Utter nonsense! Why risk investing with anyone?
In the US, people are presumed innocent, not guilty!

Alexis, Los Angeles, USA

At first the schadenfreude and gossipy elements made this story a good bet to run simultaneously in the style section and the business section. But now with the apparent suicide of the French money manager, it has taken on a much sadder tone. When the business is murky, go for the gossip.

Barry Parker, New York, USA

2009 will be the year of the hedge fund redemptions; you thought 2008 was bad? Just wait.

bodmore, boston, US of Annihilation

Where were the financial services regulators? This guy was at it for 50 years!

Joe, Baltimore, USA

Among the wreckage, is a philanthropy of Elie Weisel. Does he, too, and those he helped, deserve the flip condemnation of those with the good fortune to have been spared the bad fortune of an opportunity to invest with Madoff?

Eli, Cleveland, OH, USA

There is a popular book 'The Automatic Millionaire' which encourages people to save 10-15% of their salary and earn 10% interest. I never found an account which pays this, except Madoff's fund, which now turns out to be fraudulent. Glad I didn't invest. People need to rethink their investment ideas,

Terry, Lincs, uk,

This is rich. Investors who lost billions to Madoff must pay up while Madoff gets to live on in his $8milion apartment. What next? Victims must pay criminals for crimes committed against them? Welcome to the new world!

baber, dubai, uae

Chris raises a valid point. Due diligence and sensible investment decisions were lost in the pursuit of double digit returns. The SEC failed in its role and investor confidence entering 2009, deemed the most challenging yet, will be low. This will no doubt extend the already 'complex' recenssion.

bvh, Edinburgh,

Rule # 1-Diversify Rule # 2-Research all of your investments Rule # 3-Make sure your investment in the market is registered with the SEC.
People didn't follow the basic rules of investing in the market and they got burned. They shouldn't get rewarded for stupidity.

Chris, Phoenix, USA

"...any investors who withdrew cash from the hedge fund run by Bernard Madoff before the $50 billion fraud was discovered could be forced to return their original investment and any profits."

Why would anyone ever invest in anything with such a ruling on the books?

GBSmith, Fresno, CA, USA

I have a widowed sister whose modest retirement funds were destroyed in this Madoff collapse. It will be years before any returns of capital see the light of day, if ever. There were a series of architected evasions built into a network of funds that enabled Madoff's betrayal.

Bill Sweeney, Arlington, USA

Our respective Govt's can't afford too many of these revelations. Laws will be changed, to protect these people mark my words, anything to keep the elite.. elite!

The next time such a revelation risks coming to light, our respective Govts will just pay the debts and it will all be forgotten about.

dee, lincoln, uk

onece again it shows how many poeple out there who don't know the job. and poeple like me got the boot for doing the job. remember marconi.

tony, london, United Kingdom

Roubini says when the hedge funds go, they will collapse simultaneously - all several thousand of them. Its evident now that some pension funds have been passing the buck when it comes to responsiblility. They have seen fit to allocate funds to hedge funds that are superficially plausible.

gary, london,

My heart bleeds for these people who must be down to their last few million dollars!

Denny Laine, Portsmouth, uk

Really, the investors who went to Mr Madoff have no-one to blame except themselves. Clearly they just believed the hype, and didn't do the "due diligence".
The old, rule still applies.
If it looks too good to be true, it probably is.

Chris, shannon, Ireland

There are around 10,000 hedge funds out there. They are just as opaque in their business dealings as Madoff's outfit. Believe me, Bernie Madoff is just the tip of a planet-sized iceberg. This alleged 50 billion dollar loss is chickenfeed. Just wait till the rest of the scams come to light.

Mr. McFarlane, Bucharest, Romania

Mr. Madoff should be treated like any other thief. Police should throw him in jail on Riker's Island. HIs property should be seized immediately,
Start with his penthouse.

R. Baird, Victoria, Canada

All people who are excessively rich in USA and Britain should be investigated. Nobody can become rich, in my opinion, honestly. The tax system is too demanding. I think the options paid to company executives is legalized fraud. There are many other areas which need investigation, including all banks

Jim Wills, Brisbane, Australia

PL, the 10 to 15% returns Madoff paid he paid with new investors' money. He could do this because only a few investors were redeeming their funds.

When more investors wanted to redeem their funds it was revealed there were no profits, there was no positive return. The 10% returns were fake.

Keith S, Winnipeg, Canada

I would like to know why Madoff is a free man right now. In America of all places where the dollar rules, a crime in which it's estimated that 50 billion dollars have been stolen should be treated more seriously and that includes no bail.

JP, Milan, Italy

If Madoff paid 10% pa, over 10 years that would have doubled the initial investment even without compounding. So what are these investors complaining about ? Their nest egg may be gone, but over the years they've done well. They still have the multi homes, yachts etc. Most can't even dream that.

PL, London ,

What is highly illustrating is the immense greed of those who are already very rich!

Roy Shaw, Portishead, UK

Hundreds of city types signed a petition to stop the Nat West three's extradition. Who plea bargained for a three years sentence upon their arrival in the U.S.A. ? The Nat West three of course. Regulators do a difficult job, but I wouldn't leave the F.S.A. in charge of a row of chairs.

Adrian, London,

Let's hope the wedding in Mexico goes well then.

iain, bedford, uk

Easy come, Easy Go!

Paddy, Cork, Ireland

Watch out UK... becasue we gave the Americans the right to extradite us WITHOUT a trial here, or any presentation of evidence if you put a stake in one day and drew it out the next (ie no benefit no loss) and refused to pay they could extradite you and UK courts cannot protect you... thanks Tony B.

abharrisson, london,

If he new what was going on at Madoff's firm then he deserves everything that he is going to get - a very long term.

If he didn't know then why didn't he know? Didn't he feel obligated

The whole Madoff thing is disgusting.

Peter Murray, Kenmore, Australia