Madoff Gets 150 Years!

[Parsad]

Maybe they can keep him on a respirator and heart/lung machine, but hopefully Madoff lives long enough to serve at least half that sentence!  ;D  Cheers!

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCaVUDaGGcAY

[Parsad]

Globe & Mail has a story on what Madoff's life will now be like:

 

http://www.globeinvestor.com/servlet/story/RTGAM.20090629.wmadoffjail0629/GIStory/

 

While he won't be allowed conjugal visits, I suspect he will now be the boytoy of some guy named "Butch" in cellblock D.  Cheers!

 

 

[Crip1]

…justice prevails, but…

 

 

 

http://news.yahoo.com/s/nm/20090629/bs_nm/us_madoff_10

 

 

Quoting:

 

"I cannot offer you an excuse for my behavior," he said, speaking in a calm voice. "How do you excuse betraying thousands of investors who entrusted me with their life savings?"

 

Wearing a dark business suit, leaning forward with his hands resting on a table, he said he tried to undo his crimes but "the harder I tried, the deeper a hole I dug for myself."

 

He added, "I live in a tormented state now, knowing the pain and suffering I have created."

 

Even his contrition is, at best, insincere and, at worst, criminal. He did not do this alone. He had plenty of help, plenty of “friends” who saw to it that more and more money was invested in his sham. These “friends” likely made out like bandits as well. To the best of my knowledge, no one else has been indicted over this $50B scam but there is NO DOUBT THAT THERE ARE SEVERAL OTHERS OUT THERE WHO SHOULD. If his “tormented state” is so bad, then perhaps turning state’s witness would ease the pain. And while you cannot excuse the blatant betrayal, you CAN do something about it. Birds of a feather flock together. I’ll bet my house that he knows of others, LOTS of others, performing similiarly fraudulent activities this very moment. Right now, people are being robbed blind by friends of Madoff and he is simply letting it happen. By not turning those folks in, he is betraying thousands, perhaps tens of thousands of others. A guilty conscience is worthless without decisive and positive action. Besides giving what little money he had left to “friends”, he has done nothing decisive and positive (and the giving of money to friends was hardly positive, unless you were a friend).

 

 

 

If it comes out that he did cooperate or is cooperating with authorities and that cooperation leads to arrests and convictions, I will recant this. But, for being such a magnificent thief, he still deserves his 150 years to rot.

 

[Parsad]

Totally agree Crip!  If he really does want to turn over a new leaf, stopping others is probably the best place to start.  Albeit, not like Sam Antar's bullshit reformation.  Anyone else notice Sam hardly posts about Overstock anymore?  Cheers!

 

 

[Uccmal]

It strikes me that Madoff is a classic example of a sociopath.  He actually doesn't care about what he has done to others.  In the money business there are plenty of sociopaths.  They flock to the power and money like flies to shit.

 

 

[Partner24]

Well, I believe in some sense of forgiveness, but like my mother usually say "Help yourself first and then Lord might help you".

 

So, like you said Crip, a good way to start might be to tell some stuff that authorities don't know yet and help them stop the fraud bleeding of some of his "friends". At least, it would be some steps in the right direction.

 

 

[SharperDingaan]

 

If some of those friends think he's talking he's going to have a very short life.

[MarioP]

«I'm really happy to live in Canada»  --  Vincent Lacroix

[ubuy2wron]

Crip and Sharper, you both have hit the nail squarely on the head. His only chance at redeeming his soul is to sing like a canary however his life expectancy in jail will be very short if he does.