• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Madoff Sentenced to 150 Years

Good. Now I hope they can seize all his assets. Even then I doubt that the people he fleeced will be fully compensated.
 
Birdzeye said:
Good. Now I hope they can seize all his assets. Even then I doubt that the people he fleeced will be fully compensated.
Click to expand...

The jailed Madoff already has taken a severe financial hit: Last week, a judge issued a preliminary $171 billion forfeiture order stripping Madoff of all his personal property, including real estate, investments, and $80 million in assets his wife Ruth had claimed were hers. The order left her with $2.5 million.

The terms require the Madoffs to sell a $7 million Manhattan apartment where Ruth Madoff still lives. An $11 million estate in Palm Beach, Fla., a $4 million home in Montauk and a $2.2 million boat will be put on the market as well.

Bernard Madoff gets maximum 150 years in prison - Yahoo! News
Click to expand...

I am thrilled that his wife, who tried to claim a bunch of assets were hers, lost that argument. And she's going to have to move out of her $7 million apartment. Oooh, the poor thing. NOT.
 
I'm glad he got the maximum, there is too much money to be made honestly, this was the apex of corrupt economics. Hopefully Stanford will get a similar heavy hand and this will serve as an example for the next generation of potential thieves that we are serious about investor protection.
 
Will he actually go to a real prison or one of those Martha Stewart group homes?
 
jamesrage said:
Will he actually go to a real prison or one of those Martha Stewart group homes?
Click to expand...

They were speculating on CNBC that it would be a min security but not a club fed.
 
He would have gotten a lighter sentence if he would have killed someone. Not that he doesn't deserve it. I'm just saying.
 
apdst said:
He would have gotten a lighter sentence if he would have killed someone. Not that he doesn't deserve it. I'm just saying.
Click to expand...


What a silly point. What does murder have to do with fraud? They are separate crimes. :roll:

In any event, all I can say is... good riddance.
 
jamesrage said:
Will he actually go to a real prison or one of those Martha Stewart group homes?
Click to expand...

I heard that if he was sentenced to 25 years or less, he could go to a minimum security prison. Plus 25 years and he went to a real prison.
 
Middleground said:
What a silly point. What does murder have to do with fraud? They are separate crimes. :roll:

In any event, all I can say is... good riddance.
Click to expand...

It's not a silly point. Madoff stole several billion bucks, which is no different than stealing several hundred bucks in my book and he got a stiffer penalty than most murderers get. Is there anyone blaming Madoff's action on society the way some do with murderers? 'Course not.

Just think, if had raped a 12 y/o, he would have only gotten a few years...maybe.
 
apdst said:
It's not a silly point. Madoff stole several billion bucks, which is no different than stealing several hundred bucks in my book and he got a stiffer penalty than most murderers get. Is there anyone blaming Madoff's action on society the way some do with murderers? 'Course not.

Just think, if had raped a 12 y/o, he would have only gotten a few years...maybe.
Click to expand...

I started typing out a rebuttal about how many people where harmed my Madoff, about comparing apples to oranges, about the difference between several hundred and billions, but the truth is, I doubt you would even be able to see the point, and it would all be wasted.
 
apdst said:
It's not a silly point. Madoff stole several billion bucks, which is no different than stealing several hundred bucks in my book and he got a stiffer penalty than most murderers get. Is there anyone blaming Madoff's action on society the way some do with murderers? 'Course not.

Just think, if had raped a 12 y/o, he would have only gotten a few years...maybe.
Click to expand...


I see your point here and it is sickening to think how that 'justice' works out.
 
Harry Guerrilla said:
I don't know, it seems a bit excessive.

It seems to be an emotional revenge sentence more than anything else.
Click to expand...

On March 12, Mr. Madoff was ordered directly to jail after pleading guilty to 11 criminal counts, including securities fraud, mail fraud and money laundering, in a decades-long Ponzi scheme that bilked thousands of investors out of billions of dollars.
Click to expand...

With the sheer number of victims, and the amount of damage done, I think he got exactly what he should have.
 
Redress said:
I started typing out a rebuttal about how many people where harmed my Madoff, about comparing apples to oranges, about the difference between several hundred and billions, but the truth is, I doubt you would even be able to see the point, and it would all be wasted.
Click to expand...

So you don't mind your tax money going to non-violent life sentences over people who are actually threats to society?
 
I am happy this scum got what he deserved. I am also very proud in the fact that outside some extreme circles his ethinicity was not made the center of attention.
 
americanwoman said:
So you don't mind your tax money going to non-violent life sentences over people who are actually threats to society?
Click to expand...

I would say what Madoff did is a very serious threat to society.
 
americanwoman said:
So you don't mind your tax money going to non-violent life sentences over people who are actually threats to society?
Click to expand...

Madoff is a threat to society. Talk to the people who lost the money they had set aside for their retirement if he is a threat. Ask the charities that will be able to do less if he is a threat.

It's also important to send a message. If you do things like this, you will not just get a slap on the wrist. That is a key message.
 
winston53660 said:
I would say what Madoff did is a very serious threat to society.
Click to expand...

I agree, but he didn't rob people for their money, they willingly handed it over to him for something in return and got burned. Maybe it's just me, but I wouldn't trust my life savings like that.
 
Hey, he's going to prison, so he'll be getting it in the end.
 
Harry Guerrilla said:
I have very little sympathy for the "victims", it was incredibly stupid on their part to invest all their money with a hedge fund.
Click to expand...

You don't have any sympathy for any of Madoff's 8,000 victims??
 
OxymoronP said:
You cannot expect everyone to be savvy investors, its like expecting everyone to be experts in Heart surgery.
Click to expand...

Ummm, these people were millionaires.

To invest in a hedge fund you have to have a minimum amount of money.
If I remember correctly, it has to be several million dollars or you have to have an income of $500k a year.

I'd generally call these people educated, well informed, possibly savvy.
 
You must log in or register to reply here.
Back
Top Bottom