For some Madoff victims, 150-year sentence not enough

Justice will not be fully done until the Madoff family is stripped of all its wealth - wealth that was stolen from others. And, then, they should be prosecuted, found guilty and given stiff prison terms. Then, justice will have been fully done!

What happens now.....Obama gets lobbied by the Israelis to bail out every j00 who lost money to Madoff at the American taxpayers expense.

They should go after his wife and their sons next, along with the money managers of those feeder funds that also defruaded millions of dollars from other investors. Follow the paper trail and recover as much as you can and help the victims that are truly now in need. Lock up anyone who knew and did nothing, espically that wife of his, and why does she get to keep two million? She like many of her husbands victims should have $0!

It's ironic that the money that it took to pay for Madoff's high priced defense lawyer Ira Sorkin comes from the people he ripped off.

Paul wrote:

It's ironic that the money that it took to pay for Madoff's high priced defense lawyer Ira Sorkin comes from the people he ripped off.

Right, and did he really need a high priced attorney when he probably knew that he would probably die in prison? Why couldn't he just defend himself or use a public attorney.

iF he is forfeiting 150 billion dollars in assets, isn't that more than enough to pay back all of the victims?

You all make excellent points. I saw that Sorkin person on the Today Show and he disgusted me.
I cannot agree more about the guilt of his close family members and allies. it is so obvious that a schme like this was not execuated alone. That smug b**** wife of his and his sons HAD to know what was going on-they are just very good actors/liars. CNN was saying the authorities are going after many people as we speak. I cannot wait to see their names and pictures plastered on the covers of newspapers.

As for that wife of his, although she unfairly got that 2.5 million, she is as reviled as her spouse is. That statement she made was such a pack of lies. She is only sorry that her lap of luxury was taken away from her. I've read that nobody wants to rent to her, do her bleached blond hair, serve her food. Basically, she is a persona non grata...and do we feel an ounce of pity for her??? She should be relegated to live in a slum project in the Rockaways section of Queens. THAT would be just desserts!

PCJ_Pete wrote:

iF he is forfeiting 150 billion dollars in assets, isn't that more than enough to pay back all of the victims?

Newsday has reported that Madoff supposedly has more than $171 billion in assests ("Madoff himself is in the process of forfeiting about $171 billion in personal property, including real estate, investments." See this link: http://www.newsday.com/business/ny-bzmado0701... ) How is this possible when the Forbes 400 of America's richest individuals lists Bill Gates at #1 with a net worth of $48 billion, Warren Buffet #2 at 41 billion and Paul Allen #3 at 20 billion! Is it possible that Bernie Madoff is worth $62 billion more than the top 3 on the Forbes 400 list COMBINED?

Victims.... pfffft...

Shouldn't have been greedy... put your money in a CD or 401k like the rest of us. YOU ALL DESERVED TO LOSE EVERYTHING!

Well, Professor Finance, that sounds a bit harsh. However, below is a link that non-greedy people will surely subscribe to, as do I. http://www.minyanville.com/articles/HBC-RBS-c... . It deals with the 7 lessons the Minyanville Staff has learned from the Bernie Madoff. I especially like #3 and #7, which state "3. If someone makes their product sound like it's reserved for the elite -- and that makes you want it more -- be skeptical. There's more to the story." and 7. Take responsibility for your own personal and financial decisions."

Just one person's observations.

The ultimate punishment would have been to take Bernie, Ruth & sons to the top of the observation deck of the Empire state Building with their hands behind their backs & throw them off watching them plunge 86 floors t their death then on to hell. SPLAT on the concrete. Cruel but they deserve as cruel a punishment for what they did to innocents. Let them all rot in hell. Same as his shyster lawyer Sorkin.

Greed isn't without risk.

Bet on it.

Intrested Observer wrote:

Well, Professor Finance, that sounds a bit harsh. However, below is a link that non-greedy people will surely subscribe to, as do I. http://www.minyanville.com/articles/HBC-RBS-c... . It deals with the 7 lessons the Minyanville Staff has learned from the Bernie Madoff. I especially like #3 and #7, which state "3. If someone makes their product sound like it's reserved for the elite -- and that makes you want it more -- be skeptical. There's more to the story." and 7. Take responsibility for your own personal and financial decisions."
Just one person's observations.

A bit harsh yes but oh so true, the so called investors turned victims were just as greedy as Madoff.

Todd Schuster wrote:

The ultimate punishment would have been to take Bernie, Ruth & sons to the top of the observation deck of the Empire state Building with their hands behind their backs & throw them off watching them plunge 86 floors t their death then on to hell. SPLAT on the concrete. Cruel but they deserve as cruel a punishment for what they did to innocents. Let them all rot in hell. Same as his shyster lawyer Sorkin.

Since you have the so called punishment already for them maybe you should follow through on it,if you have the guts to later on see the extent of your handy work.I'm not condoning what they did.

ProfessorFinance wrote:

Victims.... pfffft...
Shouldn't have been greedy... put your money in a CD or 401k like the rest of us. YOU ALL DESERVED TO LOSE EVERYTHING!

Exactly. It's like a day at the racetrack.

ProfessorFinance wrote:

Victims.... pfffft...
Shouldn't have been greedy... put your money in a CD or 401k like the rest of us. YOU ALL DESERVED TO LOSE EVERYTHING!

The "victims" wanted to invest money with high returns at a time the economy was rapidly slowing down.
Greed from both sides, Madoff and the so called "victims"

the biggest crime in the history of the universe. sure.

'"No, Bernard Madoff did not act alone," she said. "His wife, his sons and many, many others helped him with it."'
Would killing his family make you happy?

"We know he'll be in prison much the same way as he imprisoned us," testified Dominic Ambrosino, 48, a former New York City correction officer who, with his wife, Ronnie Sue, lost all of their savings in Madoff's scheme and now live in a motorhome in Arizona. "I would like someone in the court today to tell us: How long is our sentence?"

dominic, you are 48, get a job

Yes Greed from both sides. Finally American tax payer is going to pay.. all these million investors will be bailed out... wait and see how story will turn around within a few months..