Arkansas Blog

Still not enough although it is what the prosecuters wanted and far from his lawyer's suggestion of 12 years.

I should have been a criminal... stealing or swindling over 50 billion of other peoples money and live high on the hog until I am well into my seventies... for the price of living out the rest of my life in club fed. It's a miracle he ever faced prosecution at all... considering todays oligarch's and politicians consider him to be a super hero until a few short months ago.

And to think this is about the only fellow to take a fall for trillions worth of looting... looting which has not stopped at all.

Madoff might have got the book but his victims will not get their money back. I have a question no one has answered. Madoff gave a lot of money to politicians in Washington. When the names were released they promised to give their Madoff funds to charity. WHY?
Why didn't they see that the money was returned to the victims not some charity? Didn't the money belong to the victims? I don't know who was the bigger slime, Madoff or these politicians.

IF anyone thinks there is any justice going on here then you are fooling yourselves just like those poor victims.

>>The hearing opened shortly after 10 a.m. with statements from victims of the Madoff scheme, who stood at a lectern and told wrenching stories of how they had lost everything, and were now working several jobs and living hand-to-mouth.<<

After being given notice of this fraud a minimum of THREE times the BUSH-SEC did nothing. One time the whistle blower outlined the entire scam and had it hand delivered to the SEC.
NOTTA.
Unless some SEC people are charged with malfeasance then there is no justice.

What's become of Madoff's wife you knew the scheme all along?? What justice is there for her to keep hundreds of millions of dollars of victims' money. NOTTA.

This is still ELITISM AMERICA and it stinks.

GOOD JOB BROWNIE-
"The Congressional inquiry into the Madoff scandal returned to the House on Wednesday. This time, a star witness who was missing from the two previous Madoff hearings finally emerged.

That witness is Harry Markopolos, an investment manager turned financial fraud investigator, who says he repeatedly warned regulators for years about the disgraced financier Bernard L. Madoff.
.....
More on the S.E.C.'s expertise: Representative Edward R. Royce asks the S.E.C. whether Mr. Markopolos was right when he said that the commission did not understand complex frauds and securities. Ms. Thomsen admits that the division of enforcement is populated with lawyers because they have to bring cases in court. She also admits that the issue of expertise "is something we do need to address."

1:51 p.m. | Who is the enemy?: Mr. Ackerman continues blasting the S.E.C. and Mr. Vollmer. "Your contribution to this proceeding is zero," he says. "We thought the enemy was Mr. Madoff. I think it's you."

click on eLwood.

My cousin was pretty much wiped out with Madoff. He sold his business in the late '90's. The money was invested in "diversified" accounts but a large portion was with Madoff. Madoff had a good reputation and his funds, on paper, were conservative and returns were modest by standards of that time. My cousin said he received monthly statements showing modest growth and of course he paid taxes on the fictional income. With out his knowledge, one of his other investment funds was fully invested with Madoff. The bottom line is that all of the years that he put into his business to make it successful, went into the sh*tter.

Wow,

150 years sentance for a 76 yearold man is equal to life in prison.

Above post was from the Daily Show showing Fox news anchor making the "life in prison" comment. Jon Stewart says that 150 sentance for even a newborn amounts to life in prison.

Thanks, Big "L".

It's appears to me as if the S.E.C. should be fired, forced to return their salaries and be charged with criminal intent to defraud the U.S. Government . . . at least until they are willing to answer fully and openly to the congressional inquires. Then the punishment can fit the crime, but as long as they stand mute "taking the fifth" . . . Keep after them Representative Ackerman!

Madoff was the freaky exception. 50 billion is a lot, but what about all the A.I.G. & Citi Bank guys and 50s of other crooks who didn't lose their jobs and are still grinding away like nothing ever happened. 1 guy goes to jail after the entire system is run into the ground? I wouldn't call this justice.