Protactix

 Is victim the correct word for those that lost money after “investing” with Madoff Investments Securities LLC?

If they were widows (penniless widows that is) or orphans (penniless orphans), maybe they could  qualify as victims.

But the better description for the Madoff investor is superciliously greedy.

The Madoff investor certainly had the resources to vet Madoff’s investment scheme, but instead of minimal due diligence, they thought they had discovered a way to game the system.  (and because of who they knew they should get more; Right?)

Since they knew the guy or at least knew the guy who knew the guy, they thought their relationships entitled them to unheard of returns—Returns that were not available to outsiders.

Would this have happened to you?

No one beats the market by the  Madoff margins as consistently for as long as he (seemingly) did. 

If someone, especially someone you “know”,  tells you that, if you qualify, (if you’re good enough, if you’re rich enough, if you belong to the right bingo club, etc.) you can “get in on” returns the regular folk can’t get, then hang on to your money and hang up on the caller

…..Unless your ego tells you that you’re so good that you deserve better than real investors ordinary people. 

 If you let your greed and your ego tell you that your connections will let you beat the system, you’re not a victim when you lose your money.