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  1. #1
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    Bernie Madoff -150 Years in jail

  2. #2
    Moderator BurgerBoy's Avatar
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    Good - he got just what he deserved.

  3. #3
    ABW Ambassador writerguy's Avatar
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    Brings a couple of tears to my eyes, for sure.

    Seriously -- 12 years??????

    Admittedly, that judge now holds the all-time title for out-"Maximum Bob"-ing old Maximum Bob himself. But good for him, I say. Madoff's marks have still had their lives hurt and Madoff pulled the biggest single Ponzi scheme ever. I couldn't imagine the 12 silliness was serious; the 50 year federal recommendation would have worked for me. But 150? Awesome.

    And while we're at it -- is there anyway to revise the English language and now change "Ponzi Scheme" to "Madoff Scheme"? Bernie really deserves the credit.
    Generate more fake news.

  4. #4
    Super Dawg Member Phil Kaufman aka AffiliateHound's Avatar
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    Unfortunately, the 150 will not be at hard labor. They should have him building concrete block walls on the side of the freeway, with his 10¢/hour going directly to his victims.
    Quote Originally Posted by writerguy
    And while we're at it -- is there anyway to revise the English language and now change "Ponzi Scheme" to "Madoff Scheme"? Bernie really deserves the credit.
    Leave "Ponzi" as the name for the general type of scheme where people think they are now part of a get-rich-quick scheme, and call the "Madoff" where a ruthless sociopath deceives charities and retired people into putting their futures into a safe, secure, income-producing investment.
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  5. #5
    Grandma broke her coccyx! Uncle Rico's Avatar
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    I say don't waste the jail space with non-violent offenders. I would rather him be stripped of every penny (including money he gave to his wife), live at the poverty level, and sentence him to work at McDonald's or BK earning minimum age for as long as he is able to ask, "do you want fries with that".

  6. #6
    Affiliate Network Rep dyiadom's Avatar
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    Only 150 years ???

  7. #7
    ABW Ambassador meadowmufn's Avatar
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    With apologies to Pee Wee.... LOL.

    Investor #2: I say we kill him!
    Investor Gang: Yeah!
    Investor #3: I say we hang him, *then* we kill him!
    Investor Gang: Yeah!
    Investor #4: I say we stomp him!
    Investor Gang: Yeah!
    Investor #4: Then we tattoo him!
    Investor Gang: Yeah!
    Investor #4: Then we hang him...!
    Investor Gang: YEAH!!
    Investor #4: And then we kill him!
    Investor Gang: YEAH!!!
    Bernie Madoff: [tries to throw voice without moving lips] I say we let him go.
    Investor Gang: NO!!!
    -Don't criticize anyone til you've walked a mile in their shoes. Then when you do criticize them, you'll be a mile away and have their shoes.
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  8. #8
    Moderator bibby's Avatar
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    Quote Originally Posted by AffiliateHound
    Unfortunately, the 150 will not be at hard labor. They should have him building concrete block walls on the side of the freeway, with his 10¢/hour going directly to his victims.Leave "Ponzi" as the name for the general type of scheme where people think they are now part of a get-rich-quick scheme, and call the "Madoff" where a ruthless sociopath deceives charities and retired people into putting their futures into a safe, secure, income-producing investment.
    To put this evil man's crimes into perspective:

    I live in Minneapolis where a number of his victims live. Some of them were huge charitable donors to the community at large and Jewish charities. The biggest Jewish charity has had to scale back on their deliveries of service because big donors were scammed.

    A number of the big charities also provide donations and services to the community at large and food shelves in town. They may have to cut services there as well.

    This man is a disgusting animal. He also gives a bad name to Jews. It's hard enough that we have to live with the untrue stereotypes about us but now we have Bernie to make things even harder.

    I shudder at the thought of how his victims are feeling and many of them in their 60's and 70's have seen their life savings vanish.

    I hope Bernie rots in jail and then rots in hell.

    My community will recover and some of us will pick-up the slack and take over where our parents left off. That's what we do and how we've been taught.
    Others like me wish to someday be in a financial position to give to our community what many of the donors have for 50+ years.
    at my Synagogue, I'm the beneficiary of some good hearted members who are very charitable.

    I hope to carry on their legacy and prove to my community that the Bernie's of the world are the minority.

  9. #9
    ABW Ambassador meadowmufn's Avatar
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    Quote Originally Posted by bibby
    I hope to carry on their legacy and prove to my community that the Bernie's of the world are the minority.
    Well, hopefully, the possibility of 150 years in prison will be a deterrent to any Madoff wannabes. I can't believe he asked for just 12 years. That's adding insult to injury.
    -Don't criticize anyone til you've walked a mile in their shoes. Then when you do criticize them, you'll be a mile away and have their shoes.
    - Silence is golden. Duct Tape is silver.

  10. #10
    Moderator bibby's Avatar
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    Quote Originally Posted by meadowmufn
    Well, hopefully, the possibility of 150 years in prison will be a deterrent to any Madoff wannabes. I can't believe he asked for just 12 years. That's adding insult to injury.
    I agree but I guess he thought "you go hi...I go low". That approach didn't work.

  11. #11
    Full Member gamweb61's Avatar
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    Wink
    So I guess Obama is not going to appoint him Assistant Secretary of the US Treasury?


  12. #12
    ABW Ambassador beachcom's Avatar
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    Quote Originally Posted by BurgerBoy
    Good - he got just what he deserved.

    Second that.

  13. #13
    Believe knight01's Avatar
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    Let's make a deal Bernie. For every 90 million you manage to get back to those you swindled you get a year off the sentence. Get all the money back to them and you only serve about 8 years.
    Someday starts today
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  14. #14
    ABW Ambassador meadowmufn's Avatar
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    Quote Originally Posted by knight01
    Let's make a deal Bernie. For every 90 million you manage to get back to those you swindled you get a year off the sentence. Get all the money back to them and you only serve about 8 years.
    I don't quite agree with that... I fixed it for you.
    Get all the money back to them, PLUS INTEREST and payment of any debt incurred due to loss of that income, and you only serve about 20 years.
    That seems more fair.
    -Don't criticize anyone til you've walked a mile in their shoes. Then when you do criticize them, you'll be a mile away and have their shoes.
    - Silence is golden. Duct Tape is silver.

  15. #15
    Beachy Bill's Avatar
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    B*stard got off easy. Should have put him in a gym with about 50 of the people whose lives he ruined.

    I'll bet many of his former associates are shaking in their boots tonight. There are many yet under investigation and likely to be indicted. He did not act alone - others will get their day in court (and years in jail).
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  16. #16
    Half a Bubble Off Plumb RemodelingGuy's Avatar
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    Quote Originally Posted by Bill
    B*stard got off easy. Should have put him in a gym with about 50 of the people whose lives he ruined.

    I'll bet many of his former associates are shaking in their boots tonight. There are many yet under investigation and likely to be indicted. He did not act alone - others will get their day in court (and years in jail).
    Yeppers!

    No way this thing is even CLOSE to being over.

    Besides Madoff getting a decent chance at appeal because of the max sentence, this thing is DEEP!

    $13,000,000,000 is hard to hide and he spent too much time in lavish homes, sailing on lavish yachts, globe-trotting and rubbing elbows with the rich and famous not to spread his disease to hundreds of others.

    Scene 1.4 Over.

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  17. #17
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    i thought he was kinda cool..
    JK!

  18. #18
    Affiliate Manager Alan Hamilton's Avatar
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    Oh sure..... they give him 150 years like tha't gonna do the trick, but he'll probably get out in 60 years for good behavior!!!!
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  19. #19
    Moderator bibby's Avatar
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    Quote Originally Posted by Alan Hamilton
    Oh sure..... they give him 150 years like tha't gonna do the trick, but he'll probably get out in 60 years for good behavior!!!!
    I wonder if BM will be able to sweet talk himslef out some backdoor action in the pen.

    He sure conned his victims out of billions of doallrs and maybe he can talk his way out of a major Pain in the Ass.

  20. #20
    Affiliate Manager guinness618's Avatar
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    From NPR this morning:

    Anyone who thinks that convicted swindler Bernard Madoff will serve easy time in a "Club Fed" minimum-security prison should think again. Not only is he unlikely to land in a cushy cellblock, but he will need to watch his back, consultants and former inmates say.

    Madoff, who was sentenced to 150 years in prison for masterminding the largest Ponzi scheme in U.S. history, will likely do no better than medium security and could even be assigned to a maximum-security facility if his safety is deemed to be at risk — and it may well be, experts say.

    "I don't believe Bernie Madoff is going to give anybody any problem in prison," says Ed Bales, managing director for Federal Prison Consultants LLC. "But the fact is: What are those other inmates going to do? Is he going to get killed? That's the number one question."

    Wherever he goes will be based partly on a point system that will give him positive marks for his age (he's 71), his college education and the fact that he has no history of violence. But the sheer magnitude of his sentence would likely offset most or all of the items in the plus column, experts say.

    Another consideration is geography. Inmates are generally placed within 500 miles of home, which leaves some unpleasant options for Madoff, a New Yorker. The Lewisburg facility in Pennsylvania, for example, is an aging high-security prison known for its gang violence.

    Madoff's notoriety and the nature of his crime will also work against him. At twice the age of other federal inmates – most of whom were convicted of drug-related crimes and will serve a fraction of his time, the disgraced financier will find it difficult to make friends.

    Marvin Ragland, a former inmate who served nine years for drug possession and trafficking, says white-collar criminals such as Madoff are "the low man on the totem pole."

    "Everybody hates those guys," he says. Ragland says the pecking order comes down to an unwritten prison code.

    "The greater the crime against society, the worse you are treated," he says.

    "This guy … told grandma that he had a great [place] for her money and that it would be safe and that she didn't have to worry about it," he says. "Grandma's money is gone [and] now she's got to worry about who's going to take care of her. It burdens her whole family right down to the grandkids."

    But other inmates aren't Madoff's only threat, says Pat Nolan, who was the minority leader of the California state assembly until he pled guilty to racketeering for campaign fraud in the 1990s. He served two years in federal prison.

    "I was in with several millionaires, and boy, the [corrections] officers really resented them," he says.

    Nolan says Madoff will have to fight off the constant negative drumbeat from fellow inmates: "You are nothing, you come from nothing, you will be nothing, you lost everything."

    Ragland says he's seen a lot of white-collar inmates cry in prison. They can't handle having to wait up to three weeks for extra paper to write on, asking permission to have a glass of water, or having to barter with other inmates for an ink pen. And they can't handle the violence or the loneliness.

    Ragland, who is now sober and nearly finished with trucking school, says he only survived prison because he knew he'd eventually get out.

    For Madoff, who will almost certainly die in prison, "it's going to be hell," Ragland says.

    To make it in prison, Ragland says, you have to have something that Madoff doesn't. "You have to have something to dream of and hope for," he says.
    Dyan Carlson
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  21. #21
    Newbie newbie8100's Avatar
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    Thumbs up I totally agree...
    Quote Originally Posted by SeymourButts
    I say don't waste the jail space with non-violent offenders. I would rather him be stripped of every penny (including money he gave to his wife), live at the poverty level, and sentence him to work at McDonald's or BK earning minimum age for as long as he is able to ask, "do you want fries with that".

    Great idea!

  22. #22
    Newbie newbie8100's Avatar
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    this is only the beginning....
    Quote Originally Posted by Bill
    B*stard got off easy. Should have put him in a gym with about 50 of the people whose lives he ruined.

    I'll bet many of his former associates are shaking in their boots tonight. There are many yet under investigation and likely to be indicted. He did not act alone - others will get their day in court (and years in jail).

    Reports on CNBC were stating that they were starting at the top of the LIST of offenders and working their way down... so this scandal will go on for a while...

  23. #23
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    Madoff's key associated died of heart attack and drowned.
    I think he got off easy for croacking in his swimming pool.

    http://blogs.usatoday.com/ondeadline...d-drowned.html

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