The best thing you can say about offshore investors is that they're tax cheats in their home countries.

I don't know how I could have been more explicit. I gave them a roadmap and a flashlight, but they didn't go where I told them to go, they didn't look where I told them to look, they didn't tell the people I told them to call.

A super-sized fraud of this magnitude was bound to happen given the lack of regulation of these off-shore entities.

I've found that wherever there is one cockroach in plain sight, many more are lurking behind the corner out of view.

The best thing you can say about offshore investors is that they're tax cheats in their home countries.

We have to take personal responsibility. The government didn't do its job when the institutions needed to be held accountable. If you see something's wrong, you can't just turn the other way. The regulatory system was totally rotten from top to bottom.

Madoff Securities is the world's largest Ponzi scheme.