“NEW YORK - Historic swindler Bernard Madoff was sentenced to 150 years in prison Monday for a fraud so extensive that the judge said he needed to send a symbolic message to potential imitators and to victims who demanded harsh punishment.”
“He stole from the rich. He stole from the poor. He stole from the in between. He had no values,” said Tom Fitzmaurice. “He cheated his victims out of their money so he and his wife Ruth could live a life of luxury beyond belief.”
I know, I know. I’m just more than bitter since I’m in the already-heavily-regulated financial industry and thanks to guys like Madoff, we’re about to get even more. (Not to mention the many lives he’s already ruined.) I guess the most I can hope for now is that he lives beyond his life expectancy in a miserable prison.
It’s interesting, one of the things I like most about my job is the satisfaction that comes from having close relationships with our clients, understanding what’s important to them and their financial goals, then helping them attain those goals. It really makes me feel good when one of our clients compliments us and/or truly appreciates what we do for them. I can’t imagine ripping them off like Madoff did, then looking them in the face when they’re ready to retire and saying, “You’re all set!” What an evil SOB.
I can think of a few members of congress who deserve worse, since they are running far worse scams, and are having a far more devastating affect on our lives than Madoff. Madoff is their scapegoat. He’s small time.
he’s 71, anything over 20 years is pretty close to a life sentence. Courts like to make examples especially when the size of the punishment is in actuality pointless.
150 years is rather arbitrary, or based on mere populist rage. The guy deserves jailtime, and there is no doubt he is a huge looter..But everyone deserves justice, a fair trial and a reasonable sentence.
150 years is rather arbitrary, or based on mere populist rage. The guy deserves jailtime, and there is no doubt he is a huge looter..But everyone deserves justice, a fair trial and a reasonable sentence.
Not really. Think of it in terms of the value of all that he stole. He was such a monumental destroyer and looter of other people’s productivity that I really don’t think it’s a harsh sentence. Pointless, of course, as he’s already getting on old age, but I don’t see it as any more arbitrary than any other sentence that has to have a time bound. He’s exactly what we need to be trying to eradicate, a person who believes that money is only stolen not made.
Not really. Think of it in terms of the value of all that he stole. He was such a monumental destroyer and looter of other people’s productivity that I really don’t think it’s a harsh sentence. Pointless, of course, as he’s already getting on old age, but I don’t see it as any more arbitrary than any other sentence that has to have a time bound. He’s exactly what we need to be trying to eradicate, a person who believes that money is only stolen not made.
Precedents have been set in fraud cases of this magnitude before. Usually they don’t exceed 10-12 years. T
