Bernie Madoff Sentenced to 150 years

[zengrifter]

Bernard Madoff sentenced to maximum 150 years

BY ELLEN YAN AND JAMES BERNSTEIN

One hundred and fifty years.

Bernard Madoff showed no emotion when U.S. District Court Judge Denny Chin on Monday sentenced the convicted Wall Street swindler to the maximum for pulling off the largest Ponzi scheme in history.

"Symbolism is important," to deter a repeat of crimes that have ripped confidence in financial institutions and government's regulatory abilities, Chin said. "Mr. Madoff's crimes were extraordinarily evil."

The judge said he hoped the sentence will help victims heal.

Chin said that trustees had said Madoff had not been helpful in their efforts to find stolen funds. Chin said Madoff, 71, only cooperated after his arrest.

MORE- http://www.newsday.com/news/printedi...,4401408.story

[zengrifter]

"Like everyone else, I feel betrayed and confused." -- Mrs. Madoff (too)

[shadroch]

Waterboard him. Perhaps he might have information we need.

[rukus]

good riddance. should probably just execute him and save the money we would have spent to jail him for 10-15 years before he croaks

[Katweezel]

Originally Posted by shadroch

Waterboard him. Perhaps he might have information we need.

Bob Franken: Modern-Day Pyramids
... "I don't really understand why we're paying so much attention to Bernard Madoff. As we're discovering, almost the entire economy is the moral equivalent of a Ponzi scheme."...

Some Madoff investors - before their principal vanished - who had been with Bernie since 1995, @ 14%pa, would have turned a nice profit, courtesy of B Ponzi. Are they complaining? Did any of the victims (before signing the cheque) ever read about investment rule #1... Diversify?

[aslan]

Originally Posted by Katweezel

Bob Franken: Modern-Day Pyramids
... "I don't really understand why we're paying so much attention to Bernard Madoff. As we're discovering, almost the entire economy is the moral equivalent of a Ponzi scheme."...

There's no law against moral equivalents.

[Katweezel]

Originally Posted by aslan

There's no law against moral equivalents.

Maybe, but I am sure you will be able to dig up a timeless religious/scriptural guidance in this matter that could be appropriate; something Hebrew perhaps? .

[aslan]

Originally Posted by Katweezel

Maybe, but I am sure you will be able to dig up a timeless religious/scriptural guidance in this matter that could be appropriate; something Hebrew perhaps? .

I'm afraid the West is no longer a religious theocracy. Now, Sharia law, that's a different story.

[Pat]

Originally Posted by zengrifter

"Like everyone else, I feel betrayed and confused." -- Mrs. Madoff (too)

Where has Robbin-Hood-Bernie buried his $50,000,000,000 loot?

Hey Guru, why the experts have failed to track and find $50 billions stolen by Bernie? Where have Bernie hidden the billions? You have proposed many interesting theories about almost anything, but you have dared NOT to propose "a conspiracy theory about Bernie stealing $50 billions to benefit Israel which has hidden the loot". Personally, I don't think Bernie has stolen $50 billions to benefit Israel because Israel can take care of herself financially by her great fund-raisings in USA. Israel does not need a crook to give her money... besides, it's really bad for her image. Then why the loot cannot be found? Hmm... may be... Robbin-Hood-Bernie has hidden the cash somewhere for his ultimate rational act of self-sacrifice. He might set up a secret 6-million-Jews-murdered-in-Holocaust-trust-fund in a Swiss bank, perhaps? What do you think, Guru?

[zengrifter]

Originally Posted by Pat

Where has Robbin-Hood-Bernie buried his $50,000,000,000 loot?

Hey Guru, why the experts have failed to track and find $50 billions stolen by Bernie? Where have Bernie hidden the billions? You have proposed many interesting theories about almost anything, but you have dared NOT to propose "a conspiracy theory about Bernie stealing $50 billions to benefit Israel which has hidden the loot". Personally, I don't think Bernie has stolen $50 billions to benefit Israel because Israel can take care of herself financially by her great fund-raisings in USA. Israel does not need a crook to give her money... besides, it's really bad for her image. Then why the loot cannot be found? Hmm... may be... Robbin-Hood-Bernie has hidden the cash somewhere for his ultimate rational act of self-sacrifice. He might set up a secret 6-million-Jews-murdered-in-Holocaust-trust-fund in a Swiss bank, perhaps? What do you think, Guru?

Madoff conspiracy

By Andrea Howry
on December 30, 2008 9:14 AM | Permalink
Let's look at this alleged $50 billion Bernard Madoff Ponzi scheme a little closer, please! It just doesn't sit well with me. There is some evil here.
This $50 billion is a huge sum simply for one man to control. Madoff must have had accomplices in order to get away with such a massive movement of money right under the noses of the Securities and Exchange Commission, which begs the question, "How high up in the government does the fruit of this poisoned tree fall?" There must be records of money movements, names of companies, individuals, dates and deals. It is too hard to fathom that those fortunates who have been able to amass millions in legitimate financial dealings would be so stupid as to turn a blind eye and allow one person absolute control of their fortunes, no questions asked. The more money one has, the more astute one must be to keep it. That is the general rule.
So where is the money? $50 billion just didn't up and disappear. Rest assured it is somewhere, and somebody knows where the bones are buried.
We've all had an experience where a certain very important or sensitive file is lost in an office, only to discover later it had been misfiled and was there all the time. If this is a possible scenario, what if the whole Ponzi scheme news story is a fabrication designed to intentionally hide billions of dollars by unscrupulous persons, blame the entire scheme on Madoff, and publish the names of some notable millionaires to give the story credibility? Is this a means for some to secret away their fortunes in offshore accounts to evade paying taxes in these recessionary times?
Whether Madoff acted alone or in concert with others is still to be determined. Since money is the root of all evil, just how deeply do these roots go, and what is the actual evil being perpetrated here?
-- Charles Williams, Oxnard