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Thread: Madoff Sentenced to 150 Years

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Harry Guerrilla View Post
    I don't believe in the death penalty.

    Life in a regular prison would be preferable over the death penalty.
    Even if he admitted to it? I mean, there is no chance they have the wrong guy, and madoff was not responsible...
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Goldenboy219 View Post
    Even if he admitted to it? I mean, there is no chance they have the wrong guy, and madoff was not responsible...
    hmm, well I have problems with state sanctioned killing.
    Not that I'm a pacifist, I'm not comfortable with it because its been used in the past for political, non criminal purposes.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Madoff Sentenced to 150 Years

    Out of %13 billion he stole only about $1 billion has been retrieved.

    The judge said he didn't think Madoff was being forthcoming about what happened to all the money.

    Maybe a sentence of 150 years in prison might make him more cooperative.

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    Re: Madoff Sentenced to 150 Years

    I thought it was in the neighborhood of $60 billion.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Harry Guerrilla View Post
    How reasonable and bright is it to give someone your life saving without at first getting several opinions?
    And how do you know that they did not get several opinions???

    Madoff fooled a lot of very intelligent financial people.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Gill View Post
    And how do you know that they did not get several opinions???

    Madoff fooled a lot of very intelligent financial people.
    Life savings + high risk investment + no diversification = not smart

    All I'm saying is that Madoff and the people who invested with him were wrong.
    The individuals that put a large amount of money in that ruined them are very wrong.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Harry Guerrilla View Post
    Life savings + high risk investment + no diversification = not smart

    All I'm saying is that Madoff and the people who invested with him were wrong.
    The individuals that put a large amount of money in that ruined them are very wrong.
    And I'll repeat again..... many of the people that lost money did not personally invest the money with Madoff. They had money in trust funds, pension funds, etc. And yes, the fund managers that were responsible for their money bear some responsibility for its loss.

    But..........how many savvy fund managers and financiers has Madoff fooled over the past 20 years?? Are they each and every one stupid?? Or, more likely, was Madoff just a great con artist?

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Goldenboy219 View Post
    I thought it was in the neighborhood of $60 billion.
    The WSJ said $13.2 billion.

    But you are correct. The figure being used in court is between $50 - $60 billion.

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Birdzeye View Post
    Good. Now I hope they can seize all his assets. Even then I doubt that the people he fleeced will be fully compensated.
    Unfortunately it appears that there are not enough assests of his to seize and distribute back to those he stole from.
    “I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us “ f107HyperSabr

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by jamesrage View Post
    Will he actually go to a real prison or one of those Martha Stewart group homes?
    Speaking of him in prison does can anyone picture this bazoonka running a sceme in prison. You know like smokes, ho's , gourmet food stuffs, drugs. Or maybe he will teach his boyfriends how to invest their pittiful cash reserves and turn them into billions.
    “I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us “ f107HyperSabr

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