Earlier quoted context omitted.
Madoff recovery is 88.35%. See: https://www.justice.gov/opa/pr/justice-department-announces-... . Many of Madoff's victims exaggerated their loses. If they invested $1MM at a claimed return of 15% for 6 years, they would claim they lost $2MM, not the $1MM principal. (I just hope our Government doesn't try to bail out crypto speculators!)
Thanks! Wow even better than I recalled To be fair there’s something to that idea. Market returns about 7% on average. Over six years that would be an opportunity cost of 50%. But, as you say there’s got to be some loss for choosing to put one’s money with a con artist I doubt there will be a crypto bailout as it seemingly didn’t get big enough to blow up anything outside itself. It also had an anti public relations…
If politicians wanted to make crypto bros whole, I would lose my mind. I doubt I am the only one, and I would hope that would be scene as a political death sentence to endorse such a proposition.