I heard an interview with David Faber on CNBC this evening. He said that there were numerous prominent families and charities in NYC that had entrusted their wealth to Madoff. Later in the program someone else said that Madoff supposedly had some $17 billion in assets on the books, but perhaps only as much as $100 million in reality. There will be dark days ahead for those who trusted this man. Their quality of life will change drastically. They may be poorer, but will they necessarily be worse off?