ms. langford. just so you all understand my background, i represented bankruptcy trustees in ponzi schemes. and i represented investors who were victimized. and who were either had received more than they put in, had invested $1 h00,000 and got $50,000 but other people got zero back, so i understand where mr. coffee is coming from and some of his comments. so where i -- what i am trying to figure out is going back to the three things that i brought up earlier. bankruptcy, how far and who should be subject to the claw back. specific, how far should the insurance reach. so in my state and in my area i have the indirect investors that mr. leveton that didn't nomadoff or peters and they invested through a fund that then invested in these particular entity. how far should that insurance reach? that is the policy decision we have to make. a&d tax wise, when can somebody take a loss? a net loss operating carry back to give you some recovery? those are the three big policy questions i have, but i also am j

ms. langford.just so you all understand my background, i represented bankruptcy trustees in ponzi schemes. and i represented investors who were victimized. and who were either had received more than they put in, had invested $1 h00,000 and got $50,000 but other people got zero back, so i understand where mr. coffee is coming from and some of his comments. so where i -- what i am trying to figure out is going back to the three things that i brought up earlier. bankruptcy, how far and who should be subject to the claw back. specific, how far should the insurance reach. so in my state and in my area i have the indirect investors that mr. leveton that didn't nomadoff or peters and they invested through a fund that then invested in these particular entity. how far should that insurance reach? that is the policy decision we have to make. a&d tax wise, when can somebody take a loss? a net loss operating carry back to give you some recovery? those are the three big policy questions i have, but i also am ju

ms. langford. i represented trustees at a ponzi schemes, investors who were victimized, people who had invested $100,000, about $50,000 back, and other people only got zero back. i understand where mr. coffee is coming from in some of his comments. what i'm trying to figure out is, going back to those three things that i brought up earlier, bankruptcy -- how far and who should be subject to the call back -- sipc -- how far should insurance reach? in my state in area, i have the indirect investors that mr. leveton talked about, who did not know, mr. madoff or any of these guys, but invested in a fund that invested in these particular entities. how far should the sipc insurance reach? and tax wise, when tens of th -- when somebody takes those illusory gains and the carry- back, that might give the least some recovery. those are the three baker policy -- those are the three big policy questions. ms. lankford, how did you get into the meat off network -- ms. langford, how did you get into the bernie ma

ms. jeannene langford, an investor in the mott family investors and an indirect investors and mr. madoff's fund. >> chairman kanjorski, ranking member garrett, and members of the committee, thank you for holding these hearings and looking into the sec's complicity with bernard madoff investment. my name is jeannene langford and i live in san rafael, california. as one of the more than 16,000 victims of the madoff ponzi scheme, i am grateful to have the opportunity to present how financially devastating scandal was to me personally. it shattered my trust in my government's ability to serve and protect us. my hope is that/gg)k i provide for myself and my daughter. in the areas where i have little expertise, i recognize the necessity to hire a specialist. personal investment was one of those areas and i knew that there were systems such as the sec in place to protect me. from my research there was no reason to believe that this investment was not a viable place to put my life savings. i have no way of knowing a partnership where i place my money was invested with madoff. money i had