Smart and Wealthy

(I have to confess, I don't really appreciate what's referred to as "Talking Heads", just thought I'd get that out up front) But, they are everywhere on TV. This morning, I heard the "Talking Heads" on a TV program (take your pick - CNN, CNCB, ABC, whatever) who said that those who had invested money with Mr Bernie Madoff were "smart and wealthy" people, who, as it turns out, lost 64 billion dollars investing with him. Wealthy, obviously; smart, not hardly; greedy, probably.
Did the "unsmart textile worker", or the "unsmart school teacher", or the "unsmart truck driver" lose money with Mr Madoff? Odds are, NOT!
The people who lost money took their chances, and deserve the returns, be it positive or negative.
Thanks for looking.