Madoff due in court for sentencing today

[Guest NewsBot]

NEW YORK (AP) -- Disgraced financier Bernard Madoff is due back in court today to hear his punishment for running a massive Ponzi scheme. Madoff's lawyer has asked a judge to give his 71-year-old client 12 years behind bars. Prosecutors plan to seek a 150-year prison term. Ten victims have sought permission to speak at Madoff's sentencing Monday in federal court in Manhattan. Madoff also is expected to speak....

 

 

 

Read the full story.

[RoyalOrleans]

Not hard to figure out. He stole the retirement dreams of thousands. He should spend the rest of his miserable life in jail. 'Nuff said.

[timesjoke]

He was given the maximum, 150 years.

[RoyalOrleans]

Madoff will die in prison, but not before he is considered for the Obama Cabinet.

 

Kidding...

 

Well... sort of. Madoff would fit right in that rogue's gallery.

[Old Salt]

Madoff's retirement is settled. He won't have to worry about a thing for the rest of his life.

 

What an ingenious retirement plan.

[timesjoke]

Madoff will die in prison, but not before he is considered for the Obama Cabinet.

 

Kidding...

 

Well... sort of. Madoff would fit right in that rogue's gallery.

 

 

But do you think he will get an Obama pardon? I say he will.

[Ahhlee]

Madoff's retirement is settled. He won't have to worry about a thing for the rest of his life.

 

What an ingenious retirement plan.

 

That's my retirement plan. Three square meals, shelter, tv, running water, being bought for a pack of cigarettes....I'm looking forward to it!

[eddo]

But do you think he will get an Obama pardon? I say he will.

 

good question. Guess we will see.

[ImWithStupid]

He was given the maximum, 150 years.

 

 

Too bad that only works out to be two years with good time.

[timesjoke]

Too bad that only works out to be two years with good time.

 

 

Well I am still going with either three years or seven, depending on if Obama gets a second term or not. This guy would qualify for a cabinet possition in the administration if he could have squeeked out of trouble.

 

Madoff and his family are known as massive supporters of hundreds of Democratic canidates and the support is estimated to be in the millions of dollars over the years. Do not think for a second Obama will be allowed to not pardon Madoff at the end of his time in office.

[Old Salt]

That's my retirement plan. Three square meals, shelter, tv, running water, being bought for a pack of cigarettes....I'm looking forward to it!

Only ONE pack of cigarettes?

[RoyalOrleans]

Well I am still going with either three years or seven, depending on if Obama gets a second term or not. This guy would qualify for a cabinet possition in the administration if he could have squeeked out of trouble.

 

Madoff and his family are known as massive supporters of hundreds of Democratic canidates and the support is estimated to be in the millions of dollars over the years. Do not think for a second Obama will be allowed to not pardon Madoff at the end of his time in office.

 

Yep, during the numerous years Bernie ran his operation, he paid investors their principal and interest when demanded. He did what he said he would do... provide a steady 10%-12% return on deposited capital that he duped from his "investors". When the market dried up and investor capital was no longer flowing in, he saw that the jig was up and confessed his scheme to his family and turned himself in.

 

On the other hand, "investors" don't have any choice but to "contribute" to the biggest Ponzi Scheme in history...The Social Security System.

 

Ole' Bernie made his system work for years... maybe his sentence should be to manage the operations of a really grand rip-off scheme... the Social Security Administration!