Talk about sentence overkill.
I’m sure it makes some people feel good, but it hasn’t solved the problem or revealed the mysteries. I also still want to know who helped him and where is the money, but also where was the SEC?
Madoff’s lawyers referred to the verdict as “mob vengeance.”
A federal judge sentenced Bernard L. Madoff to 150 years in prison on Monday for operating a huge Ponzi scheme that devastated thousands of people, calling his crimes “extraordinarily evil.”
But worse than a child molester? In Corpus Christi just a couple of weeks ago, a guy was found “… guilty of six counts of aggravated sexual assault of a child and two counts of indecency with a child. Those counts accused him of repeatedly molesting a girl” and sentenced to 80 years.
The stories of the victims of Madoff are heartbreaking in the extreme. But aren’t investors to be responsible enough to know that if something sounds too good to be true, with rewards that don’t make sense when compared to the rest of the investment world, that likely means something’s amiss?
In a capitalistic society, every citizen investor is responsible for his or her investment decisions. Government can only do so much.
On the other hand, people need to trust that investment brokers aren’t lying crooks.
Between the two lands your own personal judgment, but you, too, are involved. There is also a good rule about percentages of your money being invested in different funds, etc.
Jill Schlesinger, Editor-at-Large for CBS MoneyWatch.com, has a ridiculous post up that claims the sentence “doesn’t seem long enough.” Really?
Madoff is a being used as a symbol that’s supposed to send a warning message. It should come as cold comfort for people, because the system that allowed it to happen is still in place with no answers as to where the regulatory agencies were when Madoff ran amok.
Good riddance to the schmuck, but the overkill sentence is nothing less than judicial smoke and mirrors.
Madoff is the biggest con artists to ever hit Wall Street, leaving financial victims everywhere. But worse than a child molester?
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