Five years ago, powerful, well-connected men and women found out they were not as financially secure as they had assumed. Some would even have to do odd jobs like driving peole to the airport to make ends meet.
On December 11, 2008, the curtain came down on the $65 billion Ponzi scheme manipulated by Bernie Madoff. His employee Frank Dipascale, now a government witness in a trial of five other Madoff workers, said that Madoff sobbed. Here is that coverage by the NEW YORK POST.
Essentially, this is a story about money, not about the tragedy of betrayal. Money - and not just having enough of it - is the American dream. Because it is, when things go wrong, it is the American nightmare. Losing one's money or even a lot of it can actually destroy a person. No, it isn't just a symbol of doing well. It's what you are all about.
Of course, Madoff also lost his money. He also lost his son Mark who committed suicide. His genius was not his financial manipulations. It was his ability to read into the pawn's need to try to have more money than everyone else.
Likely there are no lessons which will be learned from the Madoff swindle. As long as money is the number-one value, society will always be vulnerable to a scam.