U.S. District Judge Denny Chin sentenced Bernard Madoff to 150 years in prison Monday, saying the his breach of trust was massive, and that he lied to investors and to the SEC to buy homes, yachts and pay country club fees.
The judge called the maximum sentence symbolic to those who might imitate the fraud and to the victims seeking relief.
What do you think? Did the judge go far enough?
The guy is 71 already. Is there any huge difference between 25 and 150 years? It's more a symbolic gesture than anything else. -- Greg
He is just a scapegoat...a distraction from the real major crooks in Wall Street and Banks. They have caused financial havoc around the world... Are they going to be prescuted as well ??? -- Fernando
I hope he lives to serve every single day of his sentence. -- Bill
Madoff has made it harder for those of us in this industry working our tails off and earning an honest reputation to bring in new business and retain existing clients. Although I do agree that some of his clients were not diversified away from him, trust is now harder to develop. -- Chris
It is effectively a life sentence. Lets call it "accountability." Now how about some accountability for the Wall Street banks and AIG, such as breaking them up into "small enough to fail" parts. -- William
Nate is spot on when he states Bernie's sentence should be reduced by 1 year for every billion he returns. Once everyone is paid back in full have him apologize to each in person. -- John
Anyone who would give one person or firm their life savings asked for what ever they got. They apparently have never heard of the principle, do not put all your eggs in one basket. -- Ed
As far as I am concerned Madoff got off easy. If it were up to me, he would be in front of a firing squad already! -- Duane
It is crazy not to go after the SEC for not investigating and shutting down Madoff 10 to 15 years ago. How can they(SEC) get off hook for the loss of billions of dollars when they are so guilty. -- Tom R
Too bad flogging has gone out of style. 150 years is just a slap on the wrist compared to the pain and anguish caused by this evil man. -- Sherry
Chrisink, you obviously have no idea what you speak of nor empathy of any kind. Some of these people did research Madoff as to his background. His reputation was above reproach from the 60's to the 90's when the SEC failed to act. He was known as one of the founding fathers of NASDAQ. Many people's lives have been destroyed and you callousness shows a lack of thought. -- JimW
I have a simple suggestion for Madoff's sentence: 55 yrs reduced by 1 yr for ea $1 bil he returns. -- Nate
They need to do everything they can to keep him alive as long as possible so that he gets to spend as much of the 150 years as possible incarcerated. -- Don
It is funny how no one felt scammed or betrayed when Madoff was getting his clients huge returns. No one throw up any red flags. It is only when people lose money does everyone panick and look for redemtion. The CEOs of the biggest banks should also get 150 years in prison for the housing crisis. Never mind, the government will find another way to bail them out. -- Andy
Basic investing 101 - higher return, higher risk. Caveat emptor - ALWAYS!! -- Tom
Madoff got what he deserved. But, doesn't the SEC have some responsiblity here? There were many red flags that should have triggered an audit of his firm by the SEC during the last 10 years.-- Mel
A fool and his money are soon parted. Grow up and accept responsibility for your actions. Sure Madoff did wrong, no one, including him, is denying this. No one can take advantage of you without your expressed or tacit authority. -- Chrisink
If he was in China, would have hang(ed) to death!! That was most appropriate for him. -- Haichow