There's a nice little discussion going on over at boing boing.

http://www.boingboing.net/2009/03/12/madoff-to-jail-hope.html#comments 

I of course realize that not everyone who invested with Madoff was rich. I also know that not all rich folks are greedy or selfish.

It seems to me, though, that both wealthy and not-so-wealthy investors with Madoff should have known better than to put all of their assetts in a single investment vehicle, particularly one whose returns were ridiculously high and through undisclosed methods.

Nobody cares more about your money than you. Protect it with whatever tools you have - research, common sense, diversification. None of that was at play here.