It has been referred to as the worst scandal the world has ever seen in the world of finance. While that type of language is hyperbolic at best, there can be no denying that the world was sorely shaken when Bernie Madoff was revealed to be nothing more than a financial criminal. He had been one of the most respected investors up to that point and now at the height of the modern financial crisis of our time this supposed rock in the storm was nothing more than another person that had been dishonest and ended up paying the price for it.
From the 1970s right on through to 2008, Bernie Madoff was certainly responsible for making some of his clients money. However, as will become apparent later on in this discussion, that money was not made honestly. It was essentially part of one of the largest Ponzi operations if not the largest one that the world has ever seen. During this period of time however, he was certainly viewed with a mixture of awe and envy depending on the specific person that you talked to.