亂彈美經新聞--List of victims of $50 billion Ponzi Scheme

From news Alleged Madoff fraud has worldwide exposure

US is always proud of their politic and finance system, and trying to market them around the world in the past century. Let’s see how the $50billion Ponzi scheme created by Madoff, who was called “well respected in investment community” in US newspapers, last more than 40 years in one modernized society regulated by all kinds of laws. Who should we blame for -- Madoff, the SEC, or the system? First let’s try to see the list of victims:

1. Police officers and firefighters in Fairfield, Connecticut town, their $41.9 million pension funds!
2. A charity in Massachusetts has to shut down
3. A distinguished economist in New York worried about his $2.2million nest egg
4. the New York-based JEHT Foundation, one nonprofit
5. the Philoctetes Center for the Multidisciplinary Study of the Imagination
7. HSBC Holdings PLC of Britain $1 billion
8. Royal Bank of Scotland Group PLC
9. Man Group PLC
10. Spain’s Grupo Santander SA, $3.07 billion
11. France’s BNP Paribas
12. Japan’s Nomura Holdings
13. Real restate magnate Mortimer Zuckerman
14. A charity of movie director Steven Spielberg
15. Irwin Kellner, well-known economist for MarketWatch.com

What’s more, the article mentioned that people are seeking money by offering a variety of collateral, from 4-carat diamonds to a Lamborghini

Here is my reading:

1. People are scared by such scandals and frauds, which could be covered for decades! Who should we trust when the credit system is destroyed totally in this crisis?
2. Credit, Credit, Credit! That is the word I heard a lot times when I moved to US! Now seems nobody can’t be trusted in America --- investment banks like GS, MS ? fund manager or Uncle Sam who is keeping printing dollar?