Madoff sentenced to 150 years in prison

Think that was a fair sentence What would you have given him.

http://news.yahoo.com/s/nm/20090629/bs_nm/us_madoff_10

Disgraced financier Bernard Madoff was sentenced to 150 years in prison on Monday for perpetrating the biggest and most brazen investment fraud in Wall Street history.
The courtroom erupted in cheers and applause as U.S. District Court Judge Denny Chin imposed the maximum possible prison sentence on the 71-year-old defendant.
Madoff stood facing the judge with his hands clasped in front of him as he learned his fate.

I think he should have been sentenced to sweep streets with a broom and clean toilets for 40 hours a week followed by incarceration for the time he wasn't sweeping and cleaning toilets.

Repeated punches to the head

I sincerely think he should have been forced to make legitimate investments and turn the profits over to his victime; like he should have done in the first place. Maybe he isn't capable of conducting legitimate business though. What about the SEC dropping the ball despite previous warnings....

The SEC is part of an even larger ponzi scheme.


From Kelley School of Business, Indiana University, Bloomington, IN 47405, USA :

As no rational agent would be willing to take part in the last round in a finite economy, it is difficult to design Ponzi schemes that are certain to explode. This paper argues that if agents correctly believe in the possibility of a partial bailout when a gigantic Ponzi scheme collapses, and they recognize that a bailout is tantamount to a redistribution of wealth from non-participants to participants, it may be rational for agents to participate, even if they know that it is the last round. We model a political economy where an unscrupulous profit-maximizing promoter can design gigantic Ponzi schemes to cynically exploit this “too big to fail” doctrine. We point to the fact that some of the spectacular Ponzi schemes in history occurred at times where and when such political economies existed—France (1719), Britain (1720), Russia (1994), and Albania (1997).

Don't forget the largest Ponzi Scheme ever.... Social Security.

Mike

Complete Heat wrote:Don't forget the largest Ponzi Scheme ever.... Social Security.
Mike

Absolutely! But have no fear, the gov will bail them out when the time comes
Anyone believe THAT, I got a bridge I need to sell.