Tuesday, June 30, 2009

Madoff Made off and made out?

2007 Madoff bragged of being very close with the world's regulators

Madoff gets 150 years

At the trial yesterday Madoff should have saved his breath shut up and just took his medicine. Madoff said his wife cried herself to sleep every night. Yeah all the way to the bank! Madoff apologized in court while seeking leniency. I agree with the Judge that Madoff was not as helpful as he could have been. I am sure absolutely no where near it instead protecting family and friends from suffering the same fate as him.

Leniency my rear! He dug a deep hole for himself big deal it isn't deep enough. His wife still has 2.5 million dollars and should be Bankrupt. She takes the subway now. Oh poor woman. I am sure she is all set and should not be. Get the millions from his family and friends. Madoff gout the maximum 150 years. The people wanted 150 years Federal prosecutors wanted 50 years and Madoff's defendants asked for 12.

I am glad he got the max but according to the average age of death he only has 12 more years to live. Dead is dead and 12 years or 150 years it is not enough pain. I really wish torture was legal now. No maybe not knowing me and most we would feel sorry for him and relent.
Madoff Fraud could be as high as 78.5 Billion

* Tim Rigas chief of Adelphia communications got 20 years.

* Bernie Ebers World comm Chief got 25 years.

* Jeff Skilling Enron Chief got 25 years.

The depths of hell sounds good for payback but dead is dead what the hell does he care? This was the biggest white collar crime in the History of the US very likely the entire world. There was 30 law firms in 25 countries that was after Madoff for defrauding multiple Billions. The countries include Argentina, Brazil, Columbia, Portugal, Spain, Switzerland, South Africa, Mexico, Israel, I am sure there are more than 25 countries affected.

When all was said and done Bernie Madoff swindled more than thirteen thousand investors and I understand it may be as high as 3 million people all over the world directly or indirectly that were swindled. There was an atmosphere of mob vengeance in the court house and a feeling of relief when Madoff got 150 years but he is 71 years old and those people will never be vindicated. Justice will never be served.

James Joiner
Gardner, Ma


Demeur said...

I did a little investigation on the family. They were all part of the 'business". They all had college degrees. Madoffs wife was the bookeeper. You mean to tell me that nobody checked his figures? I find that hard to believe. The numbers are statistically impossible to have a rate of return that high for that many years.

an average patriot said...

They were all involved the sons too. I refuse to believe they all knew nothing especially his wife who said she new nothing. Hell she was cooking the books for all of them "innocent asses"

Dave Dubya said...

There will be no justice for most of the financial swindlers in this country. They have covered their asses with donations to both parties.

Madoff will probably get to serve his sentence in a geriatric country club facility. He should be put to work in a prison shop and forced to send his meager earnings to his victims with letters of apology. Even if it is only a dollar apiece, one dollar at a time, ever day for the rest of his life.

Karen said...

Madoff is 'cooked'.

Did you hear the news... FRANKEN WINS... FINALLY!!!

an average patriot said...

Hi Dave
I50 years made the people he screwed feel good but he will die in 12. There will never be a feeling of justice for those screwed.

an average patriot said...

No justice Karen. Yes Coleman conceded and Franken just spoke. Great we are going to need the 60 seets for cap and trade and health care.

landsker said...

Hi Jim,
The recent bailout of the main Wall St players prevented them from going bankrupt...Madoff was unable to join that clique.
Without that bailout, they too would be answering to a lot of angry investors.

Good to see that there is still some functioning form of judicial process.

an average patriot said...

Hi Landsker
I am glad to see our legal system work right for once I have to say. I am very bothered though that those people will never see Justice and will have to live for the rest of their lives with destroying theirs and their families future.

AdB said...

Can't blame the lil folks who had placed their trust in their pension funds.

The fault lies in those who were subsumed by greed! Absolute filthy greed.

Sorry to say this James but I have no sympathy for those already rich and very rich folks who fed Madoff's own greed by placing their money in his scheme. Those rich folks who got conned by Madoff deserve their lot. Why? They must have had an inkling that Maddoff's scheme was surreal -- just a question of doing the maths but weren't content with 2% or 3% ROI or even 4 and let's say 5% which would have been the more realistic ROI but they wanted everything and more. These folks weren't illiterate, they knew that numbers that Maddoff was juggling before them were unrealistic but they were so consumed and blinded with greed they threw caution to the wind.

an average patriot said...

Hi Anna
I know! It is true if it sounds too good to be true it is. He promised 18% returns and people thought they were getting them. I know they were greedy but I still feel for them.