Where is the other outrage?

Supposedly, Bernard Madoff's interview with the New York Times drew outrage from both his victims and regulators (what really got them super angry was Madoff's insistence that banks and regulators had to have known about his Ponzi scheme and chose to look the other way)... which got me to thinking, where is the outrage for the larger pool of victims of the government's lack of oversight in the financial industry?

A blogger once irreverently pondered why the government doesn't bail out the victims of Bernard Madoff (though, admittedly,this was not the overriding point of the story). For quite some time now we have been innundated with the news of how Bernie Madoff swindled the rich and famous or both of millions, no billions, of dollars. While this is a tragic incidence for sure, one cannot help but wonder where all of the media attention is regarding the millions of homeowners who have been left to rot in foreclosure hell during the financial crisis. Of course, it is not as glamourous as Steven Spielberg, Kevin Bacon, or Jeffrey Katzenberg, losing millions but it is more tragic.

Some glaring examples of media and political double standard:

Often Repeated: Why would homeowners go into mortgages they could not afford?

Then Again, why would so many sophisticated investors choose to invest their money with Madoff and ignore the many glaring examples of cautionary flags set off by Madoff's operation (we've heard it all by now: the small staff, the non-existent paperwork, the lack of transparency, the too-good-to-be-true returns on investments)?

Often Repeated: Some of Madoff's victims may lose everything.

Of course, some homeowners have already lost a lot more---home, job, security, credit, peace of mind.

Although it may be terrible for those involved with Madoff's diabolical scheme, it has been terrible for many thousands more of less means. And while the story of how the rich lost their fortunes is certainly newsworthy, many of them still have fortunes left.

Of the thousands who have lost their homes and jobs, who is telling their story?