Ah yes. It turns out that our boy wonder sold a scheme that was so seductive that all the other peddlers grabbed the cool aid to assist their own sales. Thus we have an industry trying to achieve the impossible.
As the writer, Madoff's offerings passed over my desk back in the day. I dismissed it immediately as a likely Ponzi. At the time i was not directly involved in the industry and also i had no idea of the scale of his activities. My point though that an experienced market operator knows that the claim is simply impossible and thus my or any other operator's dismissal.
Unfortunately far too many folks who manage money are not truly experienced and are actually vulnerable to such a scam. A sad truth as most are selected mostly by their ability to attract money and not on how they invest it.