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Book Nook provides readers with insights into the world of books. Vick Mickunas takes you into the center of the publishing world with the latest book buzz, book reviews, and exclusive chats with authors..Home > Blogs > Book Nook > Archives > 2009 > June > 23 > Entry
Leniency for Madoff?
Convicted swindler Bernard Madoff is awaiting sentencing for ripping off his clients to the tune of 50+ billion dollars. The Wall Street con artist stole the life savings from many Americans. He could be locked up for as many as 150 years for his heinous crimes.
Now Madoff’s lawyers have sent a letter to the judge asking for leniency for Madoff. They say that a 12 year sentence is sufficient. What do you think? Is 12 years enough time to serve for this shifty little weasel?
Bernie is throwing himself upon the mercy of the court. Can’t you think of any other things he might be thrown upon? Wouldn’t you love to see him released into a stockade with all the people he has ripped off? Now that would be poetic justice…
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Vick Mickunas
Permalink | Comments (23) | Post your comment | Categories: booms and busts
Comments
By vick
June 27, 2009 1:38 PM | Link to this
The settlement involving Mrs. Madoff was finalized alongside a court order of forfeiture against Mr. Madoff in the amount of $170 billion, which represents the amount of money that prosecutors say flowed into his investment firm. However, that massive amount is largely symbolic and simply an indication that prosecutors can tap any assets of Mr. Madoff’s they can find. Much of that money went back out to investors in the form of withdrawals but also funded the Madoff family’s lavish lifestyle and that of some associates. The agreements set the stage for Mr. Madoff’s appearance before Judge Chin on Monday. Prosecutors on Friday asked the judge to give Mr. Madoff the statutory maximum of 150 years in prison, or at least a term that would effectively be a life sentence. His attorney has asked for far less — as few as 12 years. Lawyers expect him to receive 25 to 35 years. Though the 71-year-old Mr. Madoff confessed to the fraud more than six months ago, only his outside auditor also has been criminally charged in the decades-long and elaborate scheme. Mr. Madoff has offered little cooperation to investigators, in some cases providing what they believe is misleading information, for example concerning matters such as when the fraud started and whether others were involved, they say. His lawyer, Ira Sorkin, declined to comment.” (Wall Street Journal, June 27, 2009)By Raoul
June 26, 2009 8:19 AM | Link to this
Vick, next time I’m down that way I’ll stop by Sam Drucker’s store, see if Charly and Floyd are around, and ask them if they remember the dogs name. Maybe run into County Man Hank Kimball and ask him, but my guess is he’ll be a little fuzzy. Until then, the dog’s name shall remain a mystery.By vick
June 24, 2009 9:35 PM | Link to this
Raoul, I can picture that dog but no name comes to me. I can only remember the pig from Green Acres-Arnold Ziffel? Wasn’t that also in Pixley? Green Acres was a spin off from Petticoat Junction, right? I won’t comment on your precise memory of all three names for the daughters…By Raoul
June 24, 2009 9:28 PM | Link to this
Vick, you have to remember they all lived in Hooterville Junction, which was a few miles away from Pixley as I recall. Maybe the term “Hooters” was born from this. Bobby Sue, Bille Sue, and Bettie Sue…yes those were the days when a young lad like me wanted to move to the country! Uncle Joe will always be a TV icon. Here’s a good trivia question…What was the name of the dog? (I can’t remember but it always comes up when we play TV trivia). Torture takes many different forms…..!By Blowfly
June 24, 2009 4:36 PM | Link to this
Madoff deserves every bit of 12 years in jail, most notably for all the charities he ripped off. BUT, a lot of the large institutional investors who were feeding Madoff money had to know that what he was doing was not above board. They knew he was an unlicensed investment broker in violation of the law. Madoff specially told these people that they could not list Madoff on any prospectuses, and in some cases these people were putting all of their money with Madoff (what did they put in the prospectus, nothing?). Not to mention the rate of return was entirely too high for anyone to believe. They didn’t want to know. I have a lot less sympathy for those investors. As my Aunt use to say - you get what you get.By vick
June 24, 2009 1:29 PM | Link to this
Green Acres, Raoul?! Is there no limit to your cruelty? I remember Petticoat Junction. That was one of Edgar Buchanan’s last roles (along with Bea Benadaret(sp?). I did kind of like the part at the beginning where the daughters flipped their unmentionables over the edge of the watertank…ah, the memories!By Raoul
June 24, 2009 1:02 PM | Link to this
Vick, I was referring to the others on this blog, who have argued against torture, etc. I always thought tying a terrorist to a chair (or Madoff) and making them watch endless re-runs of Green Acres and Petticoat Junction might get them to crack, and in Madoff’s case, commit suicide. But that would be the easy way out….! Beyond that, I still am puzzled as to why some find the Madoff’s of the world much more reprehensible than jihadists who exist to bring death to America, but we can save that for another time and another blog.By vick
June 24, 2009 12:09 PM | Link to this
Raoul, I have not advocated that Madoff be tortured, unless you consider that if he had to spend some time with the folks he ripped off that it would constitute a form of torture? I’m against torture. Even so, Madoff should have to face the people his greed has ruined. Others on this board have advocated more extreme measures. I have not. Imaginative incarceration within the law would be my choice. Does Madoff hate hip hop music? That might be a good place to start?By Raoul
June 24, 2009 11:32 AM | Link to this
Vick, don’t get me wrong. I could care less what happens to Madoff. You get my point about the double standard, don’t you? Wall Street scams usually have something to do with quasi/governmental/political big money. They bring harm to us all. But please, about my comments regarding terrorists, you cannot argue that known terrorists should have Miranda rights and should not be exposed to ETM’s on the one hand, but waterboarding and lynching Madoff is ok on the other. That is my only point. Madoff deserves whatever is coming, and I hope it is the full measure of ‘come-uppance’, whatever it is. Leniency should not be an option.By vick
June 24, 2009 11:18 AM | Link to this
Sure, Raoul. Madoff might have ripped off the wrong people but I don’t think he will feel any safer in jail because “Democrats” can’t get to him in there. His fears might be considerably deeper and scarier. Check out this quote from The Atlantic: “In testimony that could have been scripted by a thriller-movie screenwriter, the investigator who first blew the whistle on Bernard Madoff said today that drug dealers and Russian mobsters might have pumped some money into Madoff’s alleged $50 billion Ponzi scheme. Harry Markopolos, a former Boston hedge-fund manager who has spent the last nine years tracking Madoff’s financial machinations, told the House Financial Services Capital Markets Subcommittee that he once feared for his own life and that of his associates because of the “dirty money” allegedly flowing into Madoff’s investment scam. The subcommittee is holding a series of hearings on whether to beef up regulation of the securities industry in the wake of Madoff’s activities, as well as the collapse of public confidence in banking and investments.” Russian gangsters play for keeps, Raoul-Madoff knows it.By Raoul
June 24, 2009 11:09 AM | Link to this
I guess Madoff ripped off the wrong people (fellow rich Democrats)and now torture, stoning, lynching, etc., is OK. I sure wish the same vigilance was observed for jihadist terrorists. This is what you call a ‘double standard’.By waterboard madoff
June 24, 2009 8:49 AM | Link to this
The Wall Street rip off artists are financial terrorists. If waterboarding seems too severe, perhaps stoning would be appropriate.By Raoul
June 23, 2009 6:54 PM | Link to this
Wow, a lot of anger over this one. Now, tell me again why ETM’s for known terrorists to save lives is unthinkable, but waterboarding and stringing up a rip-off artist seems appropriate? I hope he gets no leniency whatsoever and suffers the maximum penalty, whatever it is.By waterboard madoff
June 23, 2009 6:01 PM | Link to this
Bernie should never see the light of day. The Madoffs, Milkens,and insider traders are tumors on our economic system. These people socialize and do business with the ruling elite in this country, so they are given special consideration…. Dave is correct…. Waterboard the b#$%ard!By downsized
June 23, 2009 5:41 PM | Link to this
“I believe that people would be alive today if there were a death penalty.”- Nancy Reagan alaskanriley has the right idea. No taxpayer money should be spent on this person. Let his lawyers and family pay for all costs, including the scaffold.By TRS
June 23, 2009 4:48 PM | Link to this
How about a year for every person he swindled?By nyc
June 23, 2009 4:18 PM | Link to this
let those that he fleeced…determine his sentence….By flipper
June 23, 2009 4:16 PM | Link to this
After jail they better put him in the witness protection program. The words limb from limb come to mind.By Dave
June 23, 2009 4:10 PM | Link to this
Until we get past this notion that white-collar crime is not as serious as blue-collar crime, we will continue to have these huge Ponzi’s and similar frauds.By alaskanriley
June 23, 2009 4:03 PM | Link to this
“A prison term of 12 years - just short of an effective life sentence - will sufficiently address the goals of deterrence, protecting the public and promoting respect for the law.” So would a death sentence. why should we put this guy in a relaxed security white collar prison while some of his investors are jumping out of windows? These 150 year sentences have to stop. Rather than bankrupt ourselves and our sense of justice why not just pull the plug on a few folks?By dale
June 23, 2009 3:16 PM | Link to this
Are you kidding 12 years enough .Mr Madoff is the poster boy ,for the economic mess we find ourself in .The greed of Wall street and all of the weasels who work there. Madoff should die in prison.By vick
June 23, 2009 1:53 PM | Link to this
Good one, LMJ. (Please note dear readers that the author and Holocaust survivor Elie Weisel’s charitable foundation was one of Madoff’s many victims…)By lmj
June 23, 2009 1:37 PM | Link to this
Let Elie Weisel decide! Do you think he’ll go along with 12 years?