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June 29th, 2009
07:10 AM ET
Madoff's Day of Reckoning
UPDATE 11:33am: Madoff Receives Maximum Sentence; 150 Years.
Is this a surprising sentence? Leave your thoughts below.
Bernard Madoff, mastermind of the largest Ponzi scheme ever, receives his sentence (read the full story here).
Madoff is 71 years old. The maximum sentence he could have faced was 150 years in prison. His attorney asked for 12 years.
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With all the current news in the World, I hope the injustice this man was responsible for to so many people.... and our economy, isn't lost in it all.
And, it is the Bureau of Prisons who decides where he will spend his sentencing, not the courts. Why this person will, in all probability, go to Fed's minimum security is beyond me. Can anyone explain this process and truly why he shouldn't spend time in a max. penitentiary? He robbed people at a much higher cost than most offenders in max prison, was the cause of a suicide...so he murdered in my book AND no telling how many people he physically and mentally injured so he hurt people deep. .
Put him down, put him down hard!
And, treat him like a prisoner for God's sake! Twelve years? Are you serious?!
Sandy
SLC
He destroyed lives. His victims may never recover their retirement and losses. I would give him a hundred years and a day.
WSM
Obviously he should serve the maximum amount in jail. But he should have a moral fine as well. He should have to make personal apologizes to the people he has devastated and stolen from- he would probably have to do this via video since none of these people would want to be in the same room as him. He should also be forced to volunteer at soup kitchens, old age-homes and with underprivileged groups, to truly learn from his mistakes. He should be the example for the other rich and too powerful for their own good- that life in prison is not punishment enough!
till he dies, scum ball
I think he should get the full penalty of jail time in addition to being required to pay back every penny that he took, as soon as possible, no matter where or with whom (such as his wife) he has stashed it.
People's lives have been ruined. He should not benefit in any way from what he did.
Berney M should spend the rest of his life in solitary confinement in a state prison not some white collar prison playground. There are no excuses for a man like him. He is the personification of greed it all its
vulgarity.
Madoff should spend 10 years for every victim he ripped off. He should die in prison since many of his victims are dead financially.
He ruined so many people lives. 12 years that's a slap on the wrist. He's 71 he should and deserve to spend the rest of life in prison. He knew exactly what he was doing he knew the conseqences before he started. All that luxury life is gone now he should be in a maximum prison and suffer. NO MERCY. 12 years man please. I dnt care if he is 91.
He has been living for long enough without gettin punished. He should be in prison for the rest of his life.
No doubt, Bernie Madoff should spend the rest of his life in prison.
But I find my sympathy for his "victims" waning each time I see another "victim" whining on the news.
Madof's 'victims" were seduced by Madoff's charm and suckered by their own blind greed.
They all chose to ignore the time tested adage when it comes to investing that, "If it sounds too good to be true, it no doubt is."
Many of these "victims" have no one to blame but themselves for the circumstances they now find themselves in.
This man should feel lucky to be getting jail time since in my opinion he should get the death penalty. Twelve years or one hundred and fifty years the damage he has done is so distructive that I feel his is being handed a red carpet ride by going to jail. He deserves much more than this gentle handling. I will be astonished if the court system hands him down a light jail time. It will forever change my sense of right and wrong........and so how do I raise my children? Madoff, made off with peoples lives not just their money!!
I think that letting Madoff sit in a "posh" jail is way, way too easy. Personally, I would retrieve ALL his possessions that were purchased with the illgotten money (to include money his kids and other employees made from the scheme), liquidate it, portion it out to the victims and then let him and his family g and try to live the life he has forced so many to endure. His only income would be Social Security (if he paid in) or selling newspapers on the street corner. He would be denied any monies from books, movies or any other attempt to sell his story. In other words, left in the gutter from whince he came!
What Madoff did was inexcusable and he deserves to spend the rest of his life in jail. This just goes to show that no one is "beyond reproach", if it is not clear, or you do not understand how an investment makes money you should do more research or not invest.
Jack Baker
Greensboro NC
Bernie Madoff should receive a sentence where he works to repay those affected by his scheme.
I would love to see him behind bars...but that will do nothing to reimburse those who lost everything.
If there is a way to arrange for him to work at a highly profitable job, and go home to live in a cardboard box.
Sorry...but he has no problem with seeing the investors in his company loosing their houses....so he should loose everthing he currently has and he should work to make up the difference.
For him to get only 12 years is ridiculus, I got into a little trouble when I was younger and if I did that they would have no problem giving me 150 years. But this rich famous person like so many others...O.J. simpson...micheal jackson gets away with this stuff shows the holes in our system. Maybe they know something I don't but that is not fair. Thanks adam from Houston.
He should have his eyelids sliced off and be tied to a chair and forced to watch every second of every network's Michael Jackson coverage until he finally tips the chair over and slams his own head on the floor until he expires.
Heidi, I believe he should stay locked up for the rest of his life. He is guilty of murder in the sense that people committed suicide because of him. I recognize the prosecutors and the courts can't try him on such charges, but in the sentencing phase, the judge should consider the damage he has done to so many lives. Dave
Jail is too kind for Bernie. He should be put on probation and ALL his money (including Ruth's) taken away from them. This should include all real estate, investments, everything. Then let them live on their Social Security retirement. If any money is found, they both go to jail.
What I fail to understand is why ANY respectable judge, with integrity would ever allow Ruth Maddoff to retain 2+ million dollars. I would think that $100,000.00 would allow her to live in a middle class mobile home park much more confortably than many Americans who work their butts off, whereas she does NOTHING to deserve anything.
He should receive a life sentence with no chance of parole. He has ruined many lives.
150 years would fit the crime, but the guy is 71, how much longer does he honestly have? I think 15 years would probably be the same as 150 considering.
I think Bernie should be set free, that's right....set him up in a trailer park with no income, no security, with no health insurance and feed him lots of peanut butter and pistachios, see how long he survives with e-coli poisoning......let him live like most americans...fighting to survive, but instead, we want to offer him 3 meals a day and protecton?
My thought is that this man needs to live the rest of his life the way some of his victims will have to. ON A FIXED INCOME. Set him up with an ankle bracelet, put him on house arrest, limit his contacts with his wealthy friends and force him to live on just his Social Security check. This is the only way he will realize the extent of his mistake.
Make him work in a gold mine as a slave, mining gold 18 hours a day that he can never keep. When he is too weak to work the mines, turn him out on the street and let him beg as a homeless person for whatever he can get. Forbid anyone other than a homeless shelter from taking him in.
Are you serious?? His wife withdrawls $15 MILLION from their bank account right before his arrest?? Then why aren't the police DEMANDING that money be returned so that people can be paid back!?? Im a bit confused.....
And him being "behind bars" doesn't help anyone who he affected!! It's the MONEY people need back...thats the only thing that will help!
I think Bernie should be made to pay back every single penny, and then let him go. See how he likes living on what he makes as a walmart greeter.
Madoff should be considered the most notorious mass murderer of all time. Count the number of victims, the lives ruined....not to mention the suicides.
White collar prison is just a shabbier hotel than he is used to. This is the largest scheme of ALL time and how they are treating this cockroach is a slap in the face to us. The largest crime deserves the longest sentence. Isn't that logical??!!
He should be forced to work hard labor in prison, just as the victims are forced to do because of his greed. Many victims much older than him are now having to return to work, just to stay afloat. Despicable man, period!
I think Madoff should be sentenced to 150 years. However if he helps the authorities and testifies against (and recovers funds) who helped him, then the court should reduce the sentence by 10 years for everyone he turns in.
Madoff will most likely spend the maximum years of penalty (brought forth by the lead prosecuters of 150 years) and will spend the sentence in a low security prison such as Martha Stewart and Conrad Black.
I believe Madoff's sentence has already been issued because of the exposure which is very humiliating....
While what Bernie and company did is terrible the blame SHO
ULD go both ways. You can not tell me that these WEALTHY GREEDY folks didn't think something just might be wrong when they were raking in so much more than regular investments.
SORRY, they are partly to blame for the circumstances they find themselves in. One of the first things we were taught in high school was NEVER put all your money in ONE place, spread it out.
I don't see the point of taxpayers paying for him to be incarcerated for the rest of his life. Restitution is the answer, get him to be monitored and given a high paying job, he is a smart man, and pay the people he hurt back. We are doing no good to pay to keep someone in jail rather than paying the victims back. He is not a rapist or killer and can get a good job and pay taxes and restitution. Give him house arrest and a job......
Why 150 years? He's not going to live but another 25 years.....maybe. All the people that were swindled by Madoff can be assured that he will not ever see the light of day.
Hi Hiedi,
Regarding Mr. Madoff, I believe that the investors worked hard for the money they entrusted with him and therefore Bernie should have to do some sort of a job(in prison) for the rest of his life and turn over his pay check as big or small as it is to each of the investors and do it personally!!!
Cory
The focus of the Madoff case should be on Greed. Not only was Madoff Greedy but those that invested were also Greedy, expecting to receive a return on their investment that was not realistic. So this is a case of the Greedy being taken by someone that was Greedier.
Good Morning,
Mr. Madoff needs to be sentenced to the maximum penalty under the law. There has been images of a few of the victims devastated by Mr. Madoff. How about the silent victims of the Madoff scheme; The taxpayer. One example of the taxpayer paying the price is in the Town of Fairfield, Connecticut. A large portion of the pension funds for municipal workers were invested through Mr. Madoff. He needs to be held financially accountable to ALL of the victims. Put him away!
John Hart
East Haven, Connecticut
No jail term, but make him, his wife, sons and all others involved pennyless.
1 year or 150 years will not return the losses suffered by so many. His sentence certainly should be enough so that jail is where his life should end.
A sentence of 150 years is a good start.
I would reduce the sentence on the basis of a 3 year reduction for each
one billion dollars of hidden money he returns, or makes known where it is hidden, up to a sentence of not less than10 years.
In addition, since the Federal Law requires a TV for prisoners, I would provide him with a TV, that only shows Videos of the people he ruined telling him what they think of him.....
To Phil...on the MJ stuff. I am still laughin my butt off. That was toooooooooooooo funny. Thanks.
I think Bernnie should get the max. sentence. We were also in a so called Ponzi scheme but it was with a buyer of our property and a mortgage company. We lost our entire retirement and our home because of them and now living on a pension and SS with nothing for the future.
The only ponzi schemes that hit the news are the big ones. There are also smaller ones that are and have taken place putting alot of other everyday people wondering how they will survive.
dkjretiree
Mr.Madoff has only one priority in life and that is himself. The lives Madoff has ruined including his then so called friends many who lost everything have never heard a word of remorse from him. Madoff must spend his last breath in a hard Federal Prison. Hopefully his bunk mate will be friendly Big Bubba.
Bob Marshall
New York
he should receive death.... nothing less is fair to the lives that he has ruined. As for the wife and family, they should be held accountable to all those who lost so much.
Too many lives have been ruined. How many suicides? How many heart attacks or strokes brought on by this mans greed?
There needs to be laws covering abuse of the public trust and the penalty in extreme cases such as this should be death, to be set aside upon full restitution to all victims
His wife should be charged as an accessory and all of her assets seized
Whether restitution is made or not, he should spend the rest of his life in prison without priveledges or the possibility of parole.
I feel Madoff should be sentenced to the maximum allowed by law. I think they've gone too far in letting him wear his own clothing. Strip his entire family of every penny. I'm think it's wrong that his wife get's to keep $2.5 million
Madoff should be sentenced to prison for the length of time it takes for every victime to be made whole. If he dies in prison, he will get the equivalent of "paroll to eternal hell"
WHY can't his property be sold and money given to investors who were duped? WHY can't the money trail be followed...someone or lots of someones have used that money...there has to be some BIG material property that can be sold.
Madoff deserves a life sentence in a MAX SECURITY prison. That will be true justice. A minimum security golf-course prison is a slap in the face to anyone who lost money to this monster.
i think he should get the max that is allowed , and should serve all of it
The most fitting punishment isn't jail but penury. Madoff and his wife should be made poor - poorer than all of his victims - and forced to live hand-to-mouth. In jail, he won't have to worry about food, shelter, or medical services - unlike some of his victims. No matter how long a sentence, it's still too easy on him. Since all he ever cared about was money, it'd be fitting to have him spend the rest of his life mourning its loss.
I think he should be made to live in the "ghetto" and should pick up trash or some other community service for money. Let him live without any money just like he has done others.
he should go to prison for lif with out paroll, and the money he stole from people should be returned to them absolutely because i mean it is theirs.
Maximum sentence. He'll be a terrific example for other scumbags who might want to try the same thing.
I think he should get the minimum, yes MINIMUM. Our goverment is responsible for this fraud.
Bernard Madoff knew he was old when he started. In he knew he was going to be old when he go to jail. So 12 years is not going to get it. He need about 60 years because he didn't care.
I think Madoff should be sent to Palestine to live out the rest of his natural life.
There is no need to kill him, yes he lied and stole but he is no murderer, therefor lock him up and make the theif do community service.
Madoff should defiantly get the maximum sentence. He ruined so many lives. Even drew people to the suicide. There's no reason for him not to get maximum sentence. So what if it is said he only has 13 years left to live. He should be in jail for the rest of however many years he actually has left. I would be shocked if he got something less than 150 years in the slammer.
Madoff should be sentenced to live in a half-way house, with monitoring, and work in a soup kitchen for 40 hours a week, until he dies.
Bernie Madoff should receive a 150 year sentence, and during the time he lives in prison, he should be chained to a wall and whipped every day until he reveals where all the money is.
I think that an example should be made of Mr. Madoff. Just because he is 71 doesn't mean he should get a lighter sentence. A lighter sentence would be sending the wrong message to potential swindlers in the future. Therefore I recommend a life sentence for Mr. Madoff, this seems only fair considering the huge numbers of people that he has ruined.
It is unheard of someone convicted of a white collar crime to be sentenced so excessively . People don't understand what 12 years is. It is not 'easy time' at all.
He should be given life in prisonment with out parole of visitation. His family should be made to give up all their money and stature down to a low income person. Everyone that works with him on those acccounts should go to jail as well. Then someone would start talking.
Madoff needs to be made into an example. White collar crime destroys lives and should be deterred. If you are going to sentence him to 20 or 30 years, you may as well give him the full 150 years to deter future greedy white collar executives. Either way this man will spend the rest of his life in prison, as he should. Why not use him to send a message that this type of crime will not be tolerated.
Give the scum of the earth life plus 150 years
any amount of time in prison doesn't get his victims' money back. any sentence should include the retribution of the billions he took. these peoples' lives will never be the same because of this guy
I think all his money should be taken or frozen and then he should have to do what all those prople who lost money have to do. GET A JOB. He should be sentenced to several hundread hours of community service per year. Such as a job aas a laborer. Let him know what its like to sweat for pennies.
I think Mr. Madoff should be sentenced to 65 years in prison – with a year deducted for every billion dollars he returns. He stole 65 billion, so he could "get out of jail free" and keep the huge interest the money earned.
Bernie Madoff should get a 3 year probation and learn a lesson from all this.He should also be banned for 10 years from working in the securites and exchange industry or until he's able to later show better sound financial judgement and competency.
This is a shame. Another show of the difference between rich and poor justice. The poor get everything they own confiscated and then go to jail for a long time . The wealthy get to keep it all and let the family live their lives in luxury and only get a slap on the back .( pat on the rump)
I think he should be put to death why should we pay for him to live when he killed so many .
I believe he deserves 150 years...Look at the emotional damage he has caused to his victims...Some of them have probably entertained the thought of suicide. Justice does not sleep, and 150 years is just.
Bernie should be brought up against Judge Judy. She would not stand for the crime, humiliate him in front of millions, and if she could sentence him to the harshest sentence.
Given the fact he will be locked up, he will have to consider the worst side affect..... a new sexual orientation...... you do the crime you pay the time.
I feel he should get the max penalty. i feel that they should also leave his wife without a dime considering that is what madoff did as well as the fcc for some people. i understand its taxpayers paying for his stay but what you need to consider is hes used to having things his way and having money he isnt accustomed to someone else telling him what to do and when to do it. i hope he gets 150 yrs.
Madoff should be sentenced to hard labor for the rest of his life. That's the only way he could possibly understand the immeasurable amount of pain, anguish, and undeniable frustrations the folks he's swindled must endure everyday...for the rest of their lives!
Bernard Madoff is my Hero! After years of getting screwed investing in the market as a private investor I have to laugh at those large investors that were manipulated my money got screwed themselves.
Madoff is my Robinhood, maybe he didn't give to the poor but at least he stole from the rich.
Madoff should be made to work a 9 to 5 job so that his wages could pay off his victims, beginning with the least finacially able to take care of themselves.
House arrest is too cushy for such a crook even if temporary. In my opinion and Madoff being a thief, he should be in the general population. Furthermore, if a wife is entitled to half of the assets in the event of a divorce, Bernie’s wife Ruth, should be entitled to half of his 150 years. In fact, give them a combined 300 years, and then they’d both get the 150. All assets and gifts or money transferred to any family members or friends at any time, should be reclaimed and put into a fund to repay all those he took advantage of.
Bernie Madoff ought to feel thankful that this is 2009, not 1809. If it was 1809, every victim of his scam would be storming the court room, grabbing Madoff and hauling him to the nearest tree and hanging him. Justice? Yes. Today's outrage will be tempered, but when Madoff gets his sentence, he had better start watching himself 24/7/365 becuase his life will no longer be easy till he dies. The nice thing is, when he does die, he'll be cremated and put in a pauper's brass urn.
Rather than sending Madoff to jail – which really won't mean much= the court should take all of his, and his wife;s assets. They can then live as many of those he hurt – poor; not knowing how to pay the rent; using puclic transportation; needing Medicaid, etc.
A lifetime of that would be much more effective.
I am OUTRAGES that Mrs. Madoff is being alllowed to keep anything!
The current SEC should all be fired and jailed. Obviously they were not doing their job and someone was getting something out to Maddoff scheme.
Get him an apartment with a job at a fast food join so that he can experience real life. This will take him to his grave faster than you think and he can serve some of the people he has hurt.
The victim's in this case should have been asking for the money to be taken away from Mrs. Madoff..... she should have to live the way that the single mothers and widows have to live thanks to her husband. If that were done to her, perhaps she would shed some light as to where the money is. The Grand Cayman's, or Switzerland perhaps? As it is, she is gaining from his crime at the expense of his victims. This is justice??
Sure, give him 12 years but not that "Club Fed" stuff. Lock him up & put him in the general prison population of the most violent prison America has to offer.
Most people would say put him in jail and threw away the key. There is a better sentence. Now that the Jury has found this guy guilty, I would give a 15 year sentence where from Jail he would work to repay all those who lost in his ponzi scheme. I mean by using his financial skills to regain the losses to his victims with no compensation to himself. In that way, some families might be able to regain what they lost.
I think he should get 150 years. Don't forget, two people committed suicide over what he did to them...He has shown no remorse for their loss of life..basically...he is responsible for their death.
Certainly what he did was very wrong. 99 years is not unreasonable. But, I must repeat the old saying, 'there's a sucker born every minute.' Otherwise, how could the people who fell into his scheme be so gullible. I'll leave that for the psychologists. Just to say, they should have known better than to think they could get above ordinary returns on their investment. Hey, what ever happened to Supply Side theory?
Court should also strip Ruth Madoffs Wife "RUTHLESS " of all here possesions and from the whole family, to return some $$ to the investors
The Madoffs are unrepentant thieves of the worst ilk. I don't want to see either of them in prison. I want to see both of them in public and humiliated. I thought it was wonderful yesterday to watch Mrs. Madoff having to deal with the cameras and reporters and having her face plastered across the screen. Let them both have to get jobs for $8.64 an hour like that 90-year-old man who has had to go back to work as a butcher because of them. Bernie Madoff will be sheltered from the public humiliation in prison, and he will also be fed and housed and provided with medical care. He doesn't deserve to live this well.
I say put him out on the streets of New York with one change of clothes and a shopping cart.
The maximum sentence should be imposed. His estate should pay for his incarceration. This seems fair considering the multitude of individuals and families he has DESTROYED!!!
Perhaps madoff's years of sentence should match the # of years he defrauded anyone (he claims since the '60s), and his wife should have cell right next to him, for as long as she reaped the benefits and possibly signed joint tax returns; it's sad she's getting any $$ at all; I also wonder if, and how much, these 2 people ever gave to charities or helped others?
This is a "white collar" crime worthy of capital punishment. Madoff and family destroyed lives and spirits of human beings who also spent years sacrificing to make sure they would pay their way through their lifespans. The hardships many of them are encountering now and in the future is surely killing many of them prematurely. Yes, I posit that Madoff is a killer and should be punished in the legal system accordingly.
Restitution should be the #1 focus. Imprisonment will further drain the system. How about a job where he would have to work hard, keep only the barest minimum and the rest would go to his victims.
Allowing the wife to keep 2.5 million is obscene! Give her ONE dollar and not a penny more; after all she was participant and beneficiary of his crime.
Bernie Madolf is a crook of the worst kind. If we as a society give drug dealers, shoplifters and other petty criminals life sentences why in the world would madolf be treated with leniency? He should be given life just like the common man would receive
This is no "white collar" crime. This admitted felon of grand theft robbery, is no different than a man robbing a store with a gun who is serving "hard" time. Oh, he had a weapon, his mouth & his mind, he stole every single penny, of $13 Billion dollars, from hard working tax payer citizens. He did this with premeditated malice intention & fore thought. He deserves HARD TIME !!!!!!
drug dealers have everything ,including home, cars , bank accounts confiscated when caught WHY DOESTNT MADOFF HAVE THE SAME THING HAPPEN. WHY DOES HIS WIFE LIVE IN LUXURY A DRUG DEALERS WIFE WOULD NOT HAVE THAT LUXURY . ALWAYS WHEN YOU HAVE ENOUGH MONEY JUSTICE IS ALWAYS DIFFERENT FROM THE REST OF US
Bernie Madoff should face the maximum amount of prison time with no option of parole; even solitary confinement with no outside connections should also be included as part of his prison sentencing.
By destroying the lives of the individuals he stole from, his life should in no way be made comfortable as a result of his actions.
A 12-year prison sentence is a joke and is in no way a fair term for him to be allowed to have.
I am a Madoff victim. I have written to Judge Chin that I believe Madoff should never be allowed to spend any of his retirement year any other place the behind bars. The sentencing is just one step in the horrific crime. The SEC regulator and the way SIPC functions must also be addressed and reformed. People that have not been affected by the Madoff scheme, but have monies invested with any one of the brokerage companies should be just as interested in making and supporting changes to these organizations.
Firing squad in Times Square. That would show everyone that even though he was not monitored what he did was wrong. Bank/Auto CEO's will never fly private jets, or take bonuses again. They will look after their companies better which will lead to a better economy. This is the best way to go.
I beleive it could be most peoples advantage to give him a get out of jail free card. Let him walk without any protection. He should be stripped of all possessions and forced to work off the debt. He was prettty successful.
real breaking NEWS e.p.a. cover up on global warming. nothing from cnn why is that ?
Seems to me to be a unique case here.
& may require a unique punishment.
People will recoup pennies on the dollar when all is
said and done, so financial compensations to make
these investor whole seems unlikely.
How about a life sentence of community services
keeping the sidewalk below his penthouse in NY
clean and tidy, 6 days a week, for 10 hours a day?
Then returned to his cell everyday to serve the
remainder of his days.
Very public. Will ALWAYS be a reminder of what was,
and what is now. And a fitting way to watch this embarrassment
of a human being pay for his ways.
Robert – AMERICA4EVER.com
Madoff is 71, he doesn't have more than 15 years left anyway. The judge should give him the maximum 150 year sentence as a warning for others who would want to do this in the future. White collar crimes like these are worse than blue collar crimes because they affect more people and should not be overlooked.
I would like to know why there is no criminal investigation being done on Ruth Maddoff. When the common person has possession of stolen property, they are a party to the crime. Maybe Bernie's sentence should be 15 yrs. in a 6×10 cell with his wife.
my question is why were these familes that were so close to retirement giving their money to a man that they didn't know. I mean you know you are about to reach you retiremtn peak so why would you even invest your money in something you have no clue about. The best nvestment you can make is into a home or into your own savings. Madoff is wrong for what he did, but the families that were crazy enough to put their money elsewhere when they know they are abput to retire is thier own fault. Madoff should be punish for his crime and should have to pay these people back, but the victims should be accountable for the own mistakes. It makes no sense at all. Why?
Set him free, on foot, by himself, in downtown Manhattan but only after notifying the public of this intent.
Put him in jail for life. Make him pay back all the money he stole. Let the guys in prison have him in any way they want! Make his life miserable while in prison!
How can all these GREEDY people be demanding such harsh sentencing of Madoff and also trying to get money back from the Government (which is the taxpayer). All these Greedy people tried to keep Madoff investments a secret. Don't these so called victims think that with the promise of high returns someone else was getting victimized. Someone had to lose the money. I lost money the Honestly, not on the sly
Mr. Madoff does not have a conscience. A 150 years sentence will make him ponder , if he really has a conscience. He squandered and lived the high life , so a prison cell is too good for him.
Make him clean prison toilets and help feed the poor and homeless as part of his sentence.
I sincerely believe that Mr. Madoff is not remorseful about the number of lives that were destroyed and shattered by his unethical behavior. What about the lives that were destroyed due to bankruptcy, divorces and suicides as a result of his reprehensible and criminal behavior. He should be forced to pay back the millions of dollars that he stole from his numerous victims over the years. He should not be allowed to hide and redirect the money he stole to the benefit of his family and his wife by circumventing the law.
Justice for the rich is very different than for the average, hard-working American. Just look at Martha Stewart, OJ Simpson and other powerful and wealthy people who are just slapped on the wrist and then return to their multi-million dollar lifestyles and business empires.
Thanks – Pete Garcia Cento
In the Madoff case , revenge is a harmful distraction , though punishment is appropriate . Americans must not be distracted
from the fact that Madoff is one of the most important men
in the United States . I said "important" , not "virtuous" .
Set a thief to catch a thief . Give Madoff a cardinal job in the American government , with good communication equipment in his prison cell .
He has the knowledge to pin-point the ninety-nine Madoffs
who are still in the financial system , well placed for actual and
potential tricks of the Madoff kind . Given a sentence of forty years
or more , his new bosses in the anti-fraud team will have an effective
cash currency with which to pay him for his brilliant successes in his new job – paroles . Give him a start-up kitty of a million dollars
and watch him turn it into billions for compensation for the folk
he once robbed . Madoff is too smart to waste .
He tricked a lot of people and everyone hates him. I think he deserves the worst.
Sorry, the last one had my email incorrectly.
Rather than jail, both Madoffs should have every last asset stripped from them. They can learn first hand what they've done to so many people. They can wait 2-3 years for rent subsidies, Have no health, or life or disability insurances. Unable to have a car. Food Stamps. And second-hand clothing.
As to the victims, I don't feel badly, at all, for those who could afford to join country clubs just to meet the Madoffs.
i think maddof should be tried on a murder charge as some victims have lost their lives through suicide ,heart attacks etc. if convicted he should be executed along with all the thiefs that have bilked the people of their savings.
I have no remorse 4 anyone who breaks the law. 1 thru 80 cripple or crazy. The old saying is this...You do the crime you do the time. No one showed mercy or spared me when I was a teenager. I had to cop out for 7 years or do 14 years in prison. I don't understand why people think just because you have money you can get off or get a break for your crime that u commented. Stand up and Man up and accept your responsibility.No pity party!!! YOU DO THE CRIME YOU DO THE TIME!!!
Bernie Madoff's actions have hurt thousands of people and will affect them long after he is gone. Giving him the maximum penalty of 150 years won't bring back all the money he stole from those people BUT it just may deter the next white collar crook from thinking he can get away with such a despictable crime.
Throw the book at him....there's not much difference in cold blooded calculated murder or calculated cold blooded financial murder...the lives of these innocent peopel have been changed forever.
Bernie Maddoff does need to spend a period of time in prison. His time left should be spent working and repaying his victims. Neither should his wife be left with 2 million dollars. She may not have committed the crime, but she sure knew what was happening and enjoyed the evils of her partner.
even at 15 years, chances are more ikely than not that bernie madoff will spend the rest of his ife in jail. however, by sentencing him to 150 years in jail, it is a comment on how devastating his crime was. no one expects him to get out of jail but his victims deserve to have this man not receive what his lawyers are asking for. the court must respect, honor and validate the feelings of his victims. anything less would be a slap in the face.
I believe that Madoff should pay with his life. In essences Madoff is a murderer after the various suicides of investors. I also believe that not only Madoff but the SEC lawyers are criminally culpible for the acts of Madoff. While the SEC was going after small cases and knotching their belt with often times only statutory violations, Madoff was stealing with the consent and approval of the SEC. Further I believe that the SEC investigators that "passed" and approved Madoff's investment scemes should also be responsible. That is the State Bar that regulates these SEC lawyers licenses to practise law should be diciplined.
He should get a more harsh punishment. If he had 16 billion dollars from selling drugs it would be a different situation for Madoff and his family. His wife would not have 2 million, he would not have lived in a luxury apartment and he would spend a lot more time in jail.
I have worked in the securities industry and have seen first hand how smoozing and entertaining regulators seems to be the way to go. Buy them a nice lunch or dinner or tickets to a game or symphony and they will overlook everything. Unfortunately, people are out for themselves and most want to do the least amount of work for the money. Whatever happened to "Ethics"... Maybe a mattress is the way to go, since nobody is minding the chicken coop. I agree the SEC regulators are partly to blame, they should have stopped this.
I think spending the rest of his life in HARD LABOR might help him realize, that unlike him, most people were not able to sit back on their laurels while money poured in. Many people he trashed worked hard their entire lives for the money he stole through lies and deceit.
Here's hoping he lives a long, long time in the company of those that might make him regret his actions.
Regarding Madoff: Why have his wife and family who worked with him, not been charged as accessories to the same crime? They certainly were aware of his fraudelent business. They should not be left with any of the money and assets which belong to the devastated clients. The court should ensure that such will be carried out.
I feel bad for the people who were robbed by Madoff, what kind of humane being is he to do this this to other people. I think he should have to wear a tether and do 3,000 hrs of comm service and also have a job to pay the money back,i am a tax payer and i don't want to pay to have him housed and fed,enough is enough.
I cannot begin to understand what it must be like to have been a victim of such a devastating crime. I do feel, however, that by sending him to prison, we are only losing more money to Madoff's games. Forget about prison sentencing. It's time to get creative. If the man has any ounce of intelligence to offer, make him work HIS entire life to pay these peoples' retirements. And I think his assets should be distributed first to those who are the eldest victims of his crime.
Madoff should be sentence3d to 50 years without the possibility of parole. That would send a message to other would be swindlers who are younger "financial wizzards" who would hopefully be detered from considering similar actions. I hope my understanding of federal sentencing is correct in thqt there is no probation in federal cases. I retired on April 4th 2009, and my wife retired in October 2007. We are just so thankful and blessed that our retirement money is secure. We have planned for retirement and it of course be absolutely devastating to lose that money and have to go back to work after preparing for retirement. It would turn our world upside down!!!!!
The confessed criminal in this case is not the only one responsible for his long continuing criminal act. The SEC failed in its responsibility and the Madoff family had to have known that this criminal act was ongoing. Therefore, Bernard Madoff should receive a sentence that does not include any time off for good behavior. His sentence has to be one that results in his dying in prison. Too, he should serve his sentence in a federal prison that is actually a prison and not a country club. Then the assets of those of his family who worked in his 'business' , and that includes his immediate and extended family must be examined and any money they borrowed, 'earned' or otherwise obtained from the 'business' should be confiscated as being the fruits of a crime. Then of course the SEC, particularly those up top who failed to investigate the allegations made by that one man who for two or more years prior to the exposure of the crime, should be fired and pensions denied. They failed in their jobs and allowed, and that is the operative word, allowed, this criminality to continue and destroy lives. Anything less is not justice!
To be honest, I'm a bit conflicted. The pain and chaos this man has caused certainly warrents that he never sees the light of day again. However, this would only allow him to continue his life as a parasite on society. Another part of me would like to actually see him spend the rest of his life on probabtion, and forced to work off his debt to his victims. See how working 3 jobs suits him (no cushy jobs need apply! He can put his back into it! And no social benefits) . As for his lawyer's request for leniency because of his age, there is no grounds for it. He obviously showed none to his victims who were retired.
Re: Madoff-I say he should be maxed on sentencing, not just for what he's done but as a warning to the other sociopaths in corporate America. He and others like him have done far more damage than any serial killer could do.
I`m angry to ACC becouse most regulator know all scam Madoff family doing to elderly people, I want U.S. justice department punish all regulators who know this scam, I believe partners with Maddoff.
The sentence Madoff will receive truly does not matter. He is 71 years old and whatever sentence is received will effectively be a life sentence.
What is horrible is that this story is being made about Madoff, like he is the big, bad wolf. The media awaits the sentence, as if this closes the book on the crime.
Rather than any actual investigation, CNN simply asks its talking heads how long they think the sentence must be. I wonder if any there are mortified that this network is not investigating for the next Madoff. Perhaps CNN is busy investigating techniques to extend 10 minutes of news about Michael Jackson's death into 4 days of saturation coverage.
A just sentence would be to give him a shopping cart and drop him off at skid row, where he would have to beg for handouts the rest of his life.
12 years is a joke!! His age did not stop him from destroying so many people's lives. He was heartless and unforgiving to his victims. So why treat him any different. I think he and anyone else involved in his scheme should spend the rest of their lives doing HARD labor!
I am a Roman Catholic so ending his life is not allowed. But I would make the rest of life just as miserable as that of the folks he swindled. I would inject with LSD or something to make him just paranoid enough every day to make his life miserable. Then smome days he would get e meal and some days he wouldn;t. Till the day he passes.
At least he can expect to get fed. I also wouldn't let him into the general public. Just keep him paranoid and by himself. That will teach him.
cut off his thumbs and send him to a Chinese coal mine along with his wife who was in on it with him.
An example needs to be made in the Madoff case. His age should not be a factor in the sentencing. Fifty years is not enough. Madoff has affected so many people and his affects can be felt not by just this generation but as well as the next. Others need to see the consequences and an example made in this case. This also needs to change how the oversight committee monitors people and investment companies. There should be investigations in the SEC as well. All those involved should pay.
2.5 million for his wife???? Are you serious? Take it all and make the wife work. Everyone he has stolen from has to work more. If or when she gets a book deal from this and she most likely will, take that money too.
Ryan
TX
With regards to the 2 + million Bernard's wife will get to keep..........
On what basis was this decided and why in the world would ANYONE decide she could keep ANYTHING. God bless those people who worked hard and must now depend on Social Security which in some cases won't even pay the electricity bill. They have to go back to work and Madoff's wife should be made to take care of herself.......
Because the victims planned and trusted someone to help them grow their money they're left holding nothing but a heartful of broken dreams.
Ruth Madoff has had enough luxury in her life and she knew where the money was coming from.
That $2M would go far toward repaying the victims Perhaps they will get a sum of money when this passes but it'll be a pittance in comparison to what they worked and planned for.
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Madoff needs to be sentenced to 160 years and his wife should be right next to him in the cell. For her to receive $2M is unjust and unfair.
This man has ruined lives. Let justice prevail!
What does prison do for such people as Bernard Madoff and also those as Conrad Black to refund those investors? Who repays those who lost their life's savings? Will the government repay them every cent? Just heard what a viewer stated. In my words, I endorse that Madoff, as an abled person be it in prison should work to repay the people whom he bilked of their life savings. He should be given some useful work which could be instrumental in refunding them and/or the government, should the government repay them.
No sentence would be just since his crime was committed under the eyes of our federal government, which was not doing its job. A maximum security imprisonment for many years and an assignment to a menial job like kitchen police duty (cleaning of pots and pans) might be approprate; but, on the other hand, incarceratioin and assignment to a menial job outside in the weather, cold or hot, would be closer to justice. His reading material should be restricted to biblical texts or boring stories about characters like him who get their come uppance.
Why have there been no charges against Christopher Cox, Bush's SEC chief who was advised constantly that this was happening? It was HIS job to watch for this and several people told him it was happening for as much as 5 years before the downfall. THAT is what lack of regulation got us.
Most of the opinions expressed on CNN's morning show were by victims who seem to be eager for Mr. Madoff to be tarred and feathered and then burned at the stake while being stoned to death. Justice is not vengence, and those "victims" were just greedy and shallow people who wanted something for nothing, and now that they have nothing, they have vengence in their eyes. Despite Mr. Madoff's making off with their cash, he should be given $1,000, a Greyhound ticket to anywhere out of New York state, and be banished from returning. Bush and Cheney did more to upset the entire American economy by borrowing trillions most irresponsibly from the Chinese to finance two illegal wars, and for allowing the most disgraceful failure of intellegence on their watch! Justice waits patiently for them!
Bernard Madoof is a greedy man. In Dante's Divine Comedy, one of the circles is destined to people like him. I don't want to say what the circle means, because it's a bit strong.
But taking in consideration that he never though about the well-being of those who he embezzled, Madoff should get the maximum sentence, because in hurting those he fooled, he was taking quality of life of those who are poor.
José F. Colón
San Juan, Puerto Rico
Madoff , his name should be taken off everything and no one to hear his name again. I bet they have not found all the money he hide yet!
I don't care if a criminal is 21 or 71. A crime is a crime regardless of age. He has destroyed many lives and deprived them of their hope for the future. He should receive the max time to contemplate his actions.
He's sorry??????? Oh, he's so sincere! Funny he wasn't so sorry before he got caught! He's trying to look remourseful in hopes of getting a lighter sentence. Glad he got the max!!!!
Good Job Judge....150 years sentenced...well deserved.
My take on financial criminals is that they and anyone who worked with them to defraud, should be sentenced to work to recap money for the people they defrauded!! That is they are under house arrest are supervised 24/7 live in a jail-like facility, (not a Fed_Med) and I mean work hard and of course they will not get paid a single cent! Is this reality? It should be. No fun, no frills, no fancy meals: should be same any sentenced jailbird.
Although the man is a crook, why is everyone blaming him for their own stupidity? These people should have known better than to put all their eggs into one basket.
Justice can not be escaped, but to lock up and throw away the key has never been the answer. There are many ways to bring about justice and true justice for all is to find a way to bring back to those who have been wronged what has been taken. There is a story of a employee brought before a King who owed a dept that in his life time could not be repaid. He was given a sentence of life without parole, He begged the King for mercy, the King gave him the opportunity to redeem himself. He went out and mistreated a fellow employee who owed a few dollars and had him punished, as the King seen what was done after mercy was given, The King had him punished and locked up and threw away the key. You see some people who are very smart only know how to achieve in life by dishonesty, but we will never know if justice or injustice can be served until the opportunity is served.
Madoff deserves life in a medium security federal prison, in general population, not some low-level offender facility alongside other Slick Willies that got caught earlier in time. He showed no mercy when stealing from men, women and children so he deserves no special treatment. He is a criminal and deserves to be treated accordingly.
My suggestion for Madoff would be to lock him in a cell with Billy Mays for about twenty years. Unfortunately that is no longer an option.
Perhaps Rush Limbaugh could accomodate me.
In entering sentence the judge dismissed the defense's concerns about a mob mentality. I'm sure that the reasoning there is that if you defraud a mob of people, then you ought to expect a mob to be pushing for you to be prosecuted. In fact, there's an old lawyer's "joke" about the irony of a guy who murders both parents and then pleads for mercy from the court because he's an orphan. Madoff's defense attorney seemed to be making an equally ridiculous argument.
I believe that Madoff should be senteced to Community Service for LIFE!!! Repaying the massive debt will not be possible, but at least he could start by paying society back.
He got !50 years so get these people off the air crying, and move on to something more important!
Madoff took billions from investors and gave them small returns that were based on imaginary securities. He received a life sentence, which was just.
The banks took billions from investors and gave them certificates based on imaginary securities. The banks were awarded billions to pay for this fraud. Excuse me. How is this different?
Good, but what about his family, they should be in prison for life as well! We need to show the citizens of this country that this kind of out right theft will not be tolerated, and should carry stiffer sentences for these crimes as well! The reason so much of this high dollar theft occurs is because the sentences are way too light, we need to start spanking these guys and it will stop!
I think 12yrs. Would be acceptable for the crime committed only if he was able to pay back 100% of the victims original investment. Due to the ruin of many peoples lives and future; 150yrs. sets a precedent for further cases of this nature. But I feel the judge should have also proposed that while he was incarcerated he help law enforcement come up with ways to prevent further crimes,and then granted special privileges in prison. Also any monetary profits of his story sould be distributed among his victims.
For those who think Madoff's sentence is too harsh and believe a 12 year sentence would have been more appropriate evidentally did not lose money in his scam. There are people who should be retired after many years of hard work but because of Madoff's greed, now will have to work the rest of thier lives and will be working longer than 12 years just to survive. It is not just about people idolizing $ it is about earning money for your future so you can retire and enjoy a slower pace life. He stripped that away from many hard working Americans.
My question would be WHY does his wife get to keep anything???
IF there were any justice, sell everything he owns, and give a little to all who lost,
she should be looking for lodgings and a job, what a slap in the face to those who worked for what they HAD!
Let his wife live only on Social Security and take everything including jewels away from her and also everyone who worked there should have to give up everything they own. His family should pay also for his doing and not receive a penny from the money he and and the family fraudulently took from people, but as always I have to say, if you are greedy, liars can get to you and take your money away. My consultant told me, as of a certain age you should invest your money with solid companies like Fidelity, of course his clientel did no such thing, because they were greedy too.
If Michael could speak, I believe he would say:
I loved you all in my own way, but unfortunately I could not stay
I had to go and could not say goodbye
I was given wings and now I fly
From Day into night, my spirit took flight
Many will hurt and many will cry
Please realize, it wasn’t my choice to die
But now I’m free to live out my fantasies
And to be what I was meant to be
To my Brothers, Sisters, Mom and Dad
Celebrate don’t be sad
For I have lived to the beat of my own drum
And for that I’m thankful to some
Family please continue to be kind
And always remember I’ve loved you in and out of time