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Thread: Madoff Sentenced to 150 Years

  1. #81
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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Harry Guerrilla View Post
    What Madoff did was wrong, without a doubt.

    With that said, you should not put all your money into extremely risky investments and expect me to feel sorry if or when you loose it all.

    They are victims of Madoff and their own stupidity.
    These people are victims of a thief.

    If these people had invested their money in a hedge fund wherein there is high risk, and lost their money due to the fluctuations associated with that risk, then there would be no crime.

    But, they invested their money with a thief who lied to them and used their money as a means to steal more money.

    That is illegal in this country, and the guy in this case managed to steal more money than has ever been stolen by one person.

    He deserved what he got, and I hope his family members who worked for his company are indicted soon, and also receive a very harsh sentence if found guilty helping him steal at this level.

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by winston53660 View Post
    NEW YORK -- Bernard Madoff was sentenced to 150 years in prison Monday, meaning he will likely spend the rest of his life behind bars after admitting in March to running one of the largest and longest financial frauds in recent memory.
    He will get out of prison when he is 220 years and probably pull the same
    fraud all over again.

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by winston53660 View Post
    NEW YORK -- Bernard Madoff was sentenced to 150 years in prison Monday, meaning he will likely spend the rest of his life behind bars after admitting in March to running one of the largest and longest financial frauds in recent memory.

    Bernard Madoff, Convicted Ponzi-Scheme Operator, Sentenced to 150 Years - WSJ.com
    Good!

    Are they going to sentence Dubya too for the Iraq war and wrecking the US economy?

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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by paris View Post
    Good!

    Are they going to sentence Dubya too for the Iraq war and wrecking the US economy?
    Since there is no law against stupidity the Shrub will not see justice for those alleged boo boos. Shrub will live in Texas., make tons of money giving so so speeches and grow into a very old , grey , and leafless Bush.

    ps if there was a law against stupidity Bubba Clinton would be incarcerated for life.
    Last edited by F107HyperSabr; 06-29-09 at 11:48 PM.
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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Harry Guerrilla View Post
    I'm not justifying it, I'm saying his sentence is a bit excessive.

    To make a ruling based on emotion isn't justice.
    while i get your point, that the sentence should be found reasonable for the crime, i don't know that the judge had a better option

    the sentence is almost ONE DAY in prison for each $ONE MILLION stolen

    had he actually sentenced madoff on that basis, it would have been about 137 years, based on the $50 Billion estimate that the perp indicated he had stolen during the extended period of fraud

    our prisons are filled with people who spend years for theft of amounts much less than the one day per $1,000,000 madoff will serve

    if the judge had provided the leniency which madoff had solicited, justice would be seen as tainted; unfairly punishing the have nots by comparison

    don't do the crime if you can't do the time

    and if you really feel sorry for the guy, send him some soap on a rope. his wife was left with only $2,500,000 in cash ... she won't be able to afford it

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    Re: Madoff Sentenced to 150 Years

    I have no idea why they're putting Bernie Madoff in jail. I mean, we should make him the Secretary of the Treasury because he has the kind of experience we need for running a ponzi scheme.

  7. #87
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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by Gill View Post
    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.
    Managers of these funds in many cases have a fiduciary responsibility to handle their money correctly.

    These funds should not be investing in hedge funds, end of story.
    All these managers know this, the fact that they violated this puts them on the hook for criminal and civil liability.

    Quote Originally Posted by Gill View Post
    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?
    They got too greedy.
    I personally have no problem with greed, however, everything should be done in moderation.

    Some were fooled and some were very stupid. Either way it doesn't absolve a person of their reckless behavior.
    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

    Quote Originally Posted by tryreading View Post
    These people are victims of a thief.

    If these people had invested their money in a hedge fund wherein there is high risk, and lost their money due to the fluctuations associated with that risk, then there would be no crime.

    But, they invested their money with a thief who lied to them and used their money as a means to steal more money.

    That is illegal in this country, and the guy in this case managed to steal more money than has ever been stolen by one person.

    He deserved what he got, and I hope his family members who worked for his company are indicted soon, and also receive a very harsh sentence if found guilty helping him steal at this level.
    I know he is a thief but that does not excuse the "victims" reckless behavior.

    It doesn't matter how suave someone is, the absolute #1 rule of investing is; never, ever put all of your money in one investment.

    If someone stole a car because a person left their keys in it with the car running unattended, would you not think they were stupid?
    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

  9. #89
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    Re: Madoff Sentenced to 150 Years

    Quote Originally Posted by justabubba View Post
    while i get your point, that the sentence should be found reasonable for the crime, i don't know that the judge had a better option

    the sentence is almost ONE DAY in prison for each $ONE MILLION stolen

    had he actually sentenced madoff on that basis, it would have been about 137 years, based on the $50 Billion estimate that the perp indicated he had stolen during the extended period of fraud

    our prisons are filled with people who spend years for theft of amounts much less than the one day per $1,000,000 madoff will serve

    if the judge had provided the leniency which madoff had solicited, justice would be seen as tainted; unfairly punishing the have nots by comparison

    don't do the crime if you can't do the time

    and if you really feel sorry for the guy, send him some soap on a rope. his wife was left with only $2,500,000 in cash ... she won't be able to afford it
    I don't feel sorry for him and never said I did.

    Honestly, I don't care how much was stolen because it doesn't change the fact the he committed the crime.
    Last edited by Harry Guerrilla; 06-30-09 at 04:46 AM.
    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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