Madoff Gets 150

[wwgkd]

I don't think it's too extreme.

Nothing frightens these people more than the thought of having to spend the rest of their lives in Jail for their supposedly "less serious" crimes.

A Criminal is a Criminal is a Criminal - especially when there is such systematic ignorance of the law.

Yeah, but then we need to do more for child molesters. Many of them are getting off saying that it's a disease or they weren't in their right mind point out that obviously no one would do something like that in their right mind. Temprorary insanity is also bull. Yes, you were mad or you probably wouldn't have stabbed the guy 15 times, but you still stabbed him 15 times. So they get off with sympathy instead of punishment. What people are getting away with these days does piss me off (or maybe it's the way they're getting away with them,) though I agree that it seems strange to have such disparate punishments.

[IBrake4Rainbows]

Thats pretty much my opinion on the subject, WWGKD.

The problem is not that White Collar Criminals get too much for their sentences, it's that Child molesters get too Little.

Madoff's probably a lot safer in jail than he is anywhere else...unless the guards happened to be Investors

[Sledgehammer]

A Criminal is a Criminal is a Criminal.

This.

[DesmoRob]

Anyone who invests their life savings into a hedge is an idiot at that but to invest into a hedge that has yet to yield deserves a Darwin Award. I don't care if it's a Ponzi or not that is just plain idiotic. It’s not different than Vegas. When you look back at the whole situation you could see that there was something suspicious with Madoff.
Plus, it looks to me that many Madoff investors were a bunch of wealthy people who knew jack about hedgies and just wanted to brag to their buddies on the golf course about their portfolio. In truth they were the greedy ones too.

Amen. With the amount of money that some of the people already had that were investing with this guy, they could have just as easily dumped all of their capital into something as pathetic as a GIC and lived off the interest from that. Greed and ignorance led to the financial ruin of many of these investors. It only goes to show that one needs to do all of their homework prior to making any kind of investment. Its a very general rule and goes for everyone. If an organization refuses to be transparent, thats probably a good hint that you should run, not walk, in the other direction.

One of my favorite quotes from Warren Buffet goes as follows:

"Risk comes from not knowing what you're doing"

[2ndclasscitizen]

Amen. With the amount of money that some of the people already had that were investing with this guy, they could have just as easily dumped all of their capital into something as pathetic as a GIC and lived off the interest from that. Greed and ignorance led to the financial ruin of many of these investors. It only goes to show that one needs to do all of their homework prior to making any kind of investment. Its a very general rule and goes for everyone. If an organization refuses to be transparent, thats probably a good hint that you should run, not walk, in the other direction.

One of my favorite quotes from Warren Buffet goes as follows:

"Risk comes from not knowing what you're doing"

And this excuses the theft of $65 billion USD?

[NSXType-R]

Well the fact that the government couldn't catch the guy earlier so he could do less damage is the fact that he's a really dangerous man. This guy is getting 150 years to discourage future Ponzi schemes. Plus, I hope there will be preventive measures to keep this from happening again.

And BrakeForRainbows, you're right. A criminal is a criminal.

[DesmoRob]

And this excuses the theft of $65 billion USD?

Did I say it did? My writing doesn't contain anything even remotely close to me suggesting that I think Madoff is in the clear because the investors should have known better.

[john14]

In my opinion, the death penalty is wrong so I think the best way to punish these terrible fraudsters and other criminals is to put them in jail for the rest of their life. Every person will die one day/not live forever so I don't see the point in executing Bernard Madoff.

And Rob... all people all greedy and selfish to some extent, it sounds like you're excusing Madoff's crimes just because of natural human greed and selfishness.

[DesmoRob]

And Rob... all people all greedy and selfish to some extent, it sounds like you're excusing Madoff's crimes just because of natural human greed and selfishness.

Yea, you and 2ndclasscitizen both. I just don't see how what I wrote hints toward excusing Madoff of his crime. I already tried explaining that to the guy before you. All I tried to point out was that people can avoid getting themselves into such stupid situations if they just give their hungry eyes a rest for a moment and do a little more homework on what it is that they plan on getting into. I don't think it gets any more simple than that does it? If that still doesn't click with you, then I invite you and 2ndclasscitizen both to quote from where it is in my paragraph that has mislead you to believe that I think the man should be excused. I will gladly rephrase myself for you in such a way that you too will understand.

[LTSmash]

And Rob... all people all greedy and selfish to some extent, it sounds like you're excusing Madoff's crimes just because of natural human greed and selfishness.

Life savings in a no yield hedge is a lot more than just the natural greed you and I suffer from.

Rob isn't condoning Madoff's actions. He's just making a point of the investor’s liability.

[DesmoRob]

Life savings in a no yield hedge is a lot more than just the natural greed you and I suffer from.

Rob isn't condoning Madoff's actions. He's just making a point of the investor’s liability.

Thank you. I was beginning to think I was communicating in a foreign language.