I’ve finally located someone who believes Ruth Madoff’s story that she had no idea what her husband was up to. Not surprisingly, it’s Richard Cohen,
Cohen also explains why we shouldn’t regard Madoff’s victims as greedy. I don’t necessarily disagree, but I can’t help but be struck by the contrast between the outpouring of sympathy for people who put money in an investment scheme they didn’t understand and the outpouring of contempt for people who took out loans they didn’t understand. I’m sure it has nothing to do with the fact that Madoff’s victims are wealthy and white, while subprime loanees are (inaccurately) seen as mostly poor and black.