If you are going to invest large sums of money you do your Due Diligence! This is just one article I found dating back to 1993 where the exchanges were investigating him. This is public record. I hope we don't try to bail them out too.
http://pqasb.pqarchiver.com/washingtonpost/access/72137247.html?dids=72137247:72137247&FMT=ABS&FMTS=ABS:FT&date=APR+14%2C+1993&author=David+A.+Vise&pub=The+Washington+Post&desc=A+Broker+and+the+Angry+Exchanges%3B+Bernie+Madoff%27s+Stock+Buying+Rivalry+Irks+NYSE%2C+Amex&pqatl=google
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