1) Madoff stole from individuals. It was a pyramid scheme. Kenyan politicians steal from the taxpayers!
2) $50 bn was the amount that maddoff told his investors the fund is worth. He did not get $50bn from them.
3) HSBC & Santander were idiots to invest with madoff. And they are no US banks.
There will always be corrupt individuals but the overall theft/corruption is much much lower than Kenya... And madoff was taken to court & will be jailed. Where are the perpetrators of DECI,sasanet (among others)?
Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett