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Very old Madoff  

 

SkysTheLimit
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June 30, 2009 2:51 am  

In prison until he's 221 years old. Whoops!


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A Davis
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June 30, 2009 3:17 pm  

a symbolic gesture at best. i am thinking of folks expecting that they'd be able to retire, whether humbly or in some splendor, and it all goes up in a puff of smoke. they too are in prison, only their food, clothing and board will not be paid by the state.

* smdh *


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DixieChick
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June 30, 2009 3:41 pm  

was early parole mentioned for him? i missed that.

wonder if stanford is looking at that sentence and weeping.? he could be next.

Maybe martha stewart will give him pointers and send a cake with file in it.


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Trade
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June 30, 2009 3:46 pm  

It said on the news that there's no chance of parole. There was a 92 year old man on the news who lost $700K because of Madoff & was working in a grocery store now. That said, it's true that if it sounds too good to be true (constant way higher interest rates) it is too good to be true.


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divinggirl
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June 30, 2009 7:29 pm  

I think the sentence was good, however, my question is where will he serve? Many of the "white collar" convicts serve in very cushy "prisons". I was with my husband showing me around Eglin Air Force Base in northern FL once. We passed a bunch of people playing tennis (wearing typical country club outfits) but there were guards sitting on benches by the courts. He told me they were the "prisoners" that are kept on base (mostly white collar crime and friends of senators/reps that get sent there). Some are even allowed "off base" privileges for good behavior. I sure hope he goes somewhere less attractive.


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Jim Dandy
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July 1, 2009 4:41 am  

No parole in Federal system. He has to serve at minimum 80% of his sentence. (120 Years )

Also since the sentence is for more than 10 years he can't be sentenced to a low security prison. He at best will go to a medium security prison.

Jim


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DixieChick
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July 1, 2009 12:58 pm  

hard in imagine going from a multimillion dollar condo to a small jail cell. what are some people thinking???? got what he deserved of course. greed got the best of ole bernie.

i think i heard medium security. but he will probably get a cushy job in prison.


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Trade
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July 1, 2009 1:43 pm  

What's really stupid is he was obviously brilliant so he could have been very wealthy just on his brains & connections but I guess millionaire wasn't good enough for him, he had to be a billionaire. I would imagine Stanford's a bit nervous now for sure.


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Ms Information
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July 1, 2009 2:08 pm  

What is amazing, is that their are 100's, maybe thousands of people who steal from us every year. every day in the same way. He represents the lack of "morality" that is so prevalent everywhere.

It's ok to cheat on your taxes, or take advantage of a buyer, or legislate for special interests, take kick backs...I could go on and on,

The gotta make money, gotta get ahead attitude is the "American Dream". Madof is just the biggest thief (there may be worse out there).

Sorry for the rant:D


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GoodToGo
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July 1, 2009 5:23 pm  

LOVE of money is the root of ALL evil. When I was younger I didn't quite believe this but now I've seen it in so many forms on so many scales (from an individual cheating on taxes to wars pushed by those who can profit.)

What is amazing, is that their are 100's, maybe thousands of people who steal from us every year. every day in the same way. He represents the lack of "morality" that is so prevalent everywhere.

It's ok to cheat on your taxes, or take advantage of a buyer, or legislate for special interests, take kick backs...I could go on and on,

The gotta make money, gotta get ahead attitude is the "American Dream". Madof is just the biggest thief (there may be worse out there).

Sorry for the rant:D


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A Davis
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July 2, 2009 5:16 am  

Maybe martha stewart will give him pointers and send a cake with file in it.

* gack! *

madoff is not the only one, this will continue to unravel as time goes by. i just hope that the worst of the discovery is behind us. people say it will get "worse", but actually what is happening is that the symptoms of the underlying problem have manifested and will continue to do so until the nation's economic "body" becomes well.

the fever, the chills, the snot. gotta get through it. i just don't let anyone tell me it's going to get a whole lot worse, because it already is. it's just remained hidden or covered over in some way (symptom-reducing medications... but you're sniffling again when you miss a dose). i'd like to find out how things like this got by the government regulators, who'd repeatedly given madoff the clean slate, throwing off his detractors:

http://dealbook.blogs.nytimes.com/2009/07/01/sec-recommends-changes-in-wake-of-madoff-fraud/


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