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A federal judge sentenced Bernard L. Madoff to 150 years in prison on Monday for operating a huge Ponzi scheme that devastated thousands of people, calling his crimes “extraordinarily evil.”
In pronouncing the sentence — the maximum he could have handed down — Judge Denny Chin turned aside Mr. Madoff’s own assertions of remorse and rejected the suggestion from Mr. Madoff’s lawyers that there was a sense of “mob vengeance” surrounding calls for a long prison term.
“Objectively speaking, the fraud here was staggering,” the judge said. “It spanned more than 20 years.”
20 years of the SEC abdicating their chartered responsibility.
[Duplicate comment deleted. Please don’t double post! – ed.]
Adam Curry will manage to forget about his bet with Dvorak.
Listen to NoAgenda….
Can we now call Curry crazy? (He always was, but now this proves it)
Adam…Obviously the judge is in on the conspiracy, and the jail and the county, state and the whole government.
😛
It ain’t over till the fat lady sings…..
ding dong the witch is dead…
Wait wait, you will see, some judges will get suisided, and the 150 years will be overturned. yea, that’s what will happen!!!
And of course, Monsanto will be behind it all.
It’s difficult to actually feel sorry for the loudest ‘victims’ of this crime. I mean, who puts their entire life savings into one single investment? The ‘victims’ joined an exclusive club that promised to pay higher than normal returns, and they got swindled. Big deal… live and learn.
Is Madoff a swindler and does he deserve to spend the rest of his life in jail for his crimes? Yes. But his victims are victims of their own greed, and it is difficult to feel bad for them.
sorry, meant suicided. see, it is already begun, with just a typo, that is how this will all fold out, due to some typo. 150 years!!!, no sorry, I meant 1.5 years…
Now we need to sentence the SEC for incompetence. They deserve jail time for this.
#9. Absolutely right.
So this Federal Judge Denny Chin and his courtroom is the local branch of the “International” bank court that Adam says will be the only court in the world to sentence Madoff. This is bigger news than Madoff himself. Has anyone called the President, or even the media to let the people know about this?
Some investors thought they were “on the inside” with a swindler who was playing the system, some investors knew how to make money but not how to invest it and were happy with the returns, some investors didn’t even know who Madoff was and were actually cheated by experts they paid to diversify their portfolios.
Yes, the case really does highlight the incompetency/corruption of the SEC and really our government as a whole. Money. It corrupts. Turns loving human beings into republicans.
Even if it were 150 years of hard labor in N.Korea, it wouldn’t be enough.
What else is going on today?! Distraction distraction!
trure hes fucked up the world with his scams how takeing every thing his family has a prosides of crime.
He might have got a slightly smaller sentence if he had turned in his co-conspirators at the Securities and Exchange Commission (SEC). But then, they would have him killed in the prison yard.
Let’s face it, the USA is a big Ponzi scheme. The USA borrows money to pay It’s debt obligations. No one in the Gov in the USA has the balls to tax the people for the cash they spend.
#19, Lou… so very true. Imagine if all that bailout money had to be paid immediately with a special tax. I have a feeling that capitalism has run it’s course, and some new hybrid economic system with limits will take over to even things out.
As for Madoff… he should just do everyone a favor… if he truly is sorry, and kill himself.
Obamagod is sadly rebuilding the bubble and has done jack-nothing to correct the problems brought to us by “free market capitalists.” No, the reregulation will reregulate about as much as the Obama Healthcare Plan will provide universal coverage==meaning not at all.
Inflation my friends is the default position. Its why the Chinese are buying hard assests all over the world. Its the only hedge.
Silly Hoomans.
So now we have to pay to keep him alive?
How about we strip him naked and drop him off in times square and let his victims have at him?
Better to drop him in Brighton Beach.
I’m pretty sure that’s Senator Palpatine! I mean, look at him.
#7, I agree.
#9, I agree.
Greed (from the investors) and Fraud (from Madoff) and incompetence (from the SEC).
Bad.
Let’s see how it goes for the accounting firms…
FIRE UP THOSE GRILLS, BOYS!! We’re gonna BBQ some accountants!
If it was thousands of average Joes who had been ripped off, he would just have got 25 years in jail. Now, it’s the rich and famous.
#15 It’ll be the same south american paradise where Kenny Boy Lay is relaxing in luxury.
Now who was it that said that they wouldn’t to that to Madoff?
It was one of John C. D.’s friends that blabbers with him? I wonder who that could be?
You know. The one getting a divorce.
Now what if anything happens to all the other people that were crown of their head deep in this?
Looks like he fell on his sword and convinced the system that he was the only guy who should be responsible for this multi-billion dollar scam. It doesn’t seem possible that he was the only one involved.