Video of Madoff surfaces

naty_forty,

The logic, you say? Consider some Possibilities.

No-One-Ever-Anticipated that any respectable human would EVER stoop to stealing more than $5 million. How could anyone ever endure such self-abasement and humiliation?

Dubious.

a) Regardless of the extent of a theft\embezzlement\fraud - $5 million buckaroos is a heckuva a huge fine. Yessiree.

b) Crooks faced with a whopper fine would never consider stealing more than the fine: AKA The "Felon's Inherent Modesty Principle." (apparently at odds with reality and requires more than a theory)

c) The mere threat of potential fines strikes terror into criminal minds. They are reformed even by the apprehension of being forced to pay back anyone for anything.

More dubious?

How about - the Injudicious, people equally credulous and incompetent, sought sage legal counsel from insanely corrupt ideological flatterers and together they settled for what amounts to a trivial licensing fee for high crimes detrimental to the survival of the state..

Why? Because as adults perhaps they understood that anyone slick enough to loot the public beyond $5M would likely know in advance how to whisk such plunder to some friendly offshore haven where criminal transactions are deemed normal business by people at least as corrupt.

The larger question is this - and no one is mentioning it - what will it take, how much damage to millions of people, before all tax havens finally are shut down?

Until they are removed from international legal immunity their continued existence as guardians of obviously stolen property will only encourage more highly placed crooks to take other's people's billions - and run. In short, we would call them common "Fences" if they weren't so influential.

There will be more. Count on it.

Oh my goodness, this IS outrageous! and then a five million dollar fine for stealing 50bn?! Where's the logic?

I don't think there are any honest politicians.....it's an oxymoron

In a few minutes I have to make a seemingly simple choice--where to eat spaghetti and meatballs. I could go to a large popular restaurant with a huge industrial kitchen glittering with stainless steel, the owner politically connected, a place to be seen and the waitresses are hot--The meal with tip would cost about $10.00

I could go to a little hole in the wall with an owner just barely hanging on and pay about $10.00.

This is a "no brainer" decision. Join me, there will be two of us there.

I would like to know where the rest of Obama's 750m in campaigne funds are. Did he spend it all ? Is it accounted for? What does he do with what is left?

Classic cases of the Rooster watching the hen house.

I dont think I have ever been so mad at so many people (The Clintons included) who actually stole some artifacts from the White House when they left.

Is there not one honest and good policitican , banker or Wall St person?! I feel like they have choked the life out of our whole damn country.

"He faces a prison term of up to 20 years and a fine of $5 million.."

A five million dollar fine for stealing 50 billion? And that's a disincentive?

So, anybody who can steal ten million and hide it, can give back 5 and keep 5... That isn't a criminal justice system that's a finder's fee for organized crime.

And the money went where? Wasn't financial deregulation a terrific idea? Without friends to incrementally sabotaging the laws - beforehand - none of this would have been possible.

And that Madoff did this all by himself? No way. There must be hundreds of others coerced or bribed who helped put this together.

REVOLT NOW!!!

He faces a prison term of up to 20 years and a fine of $5 million if convicted of criminal securities fraud.Oops better pay back a10 million dollar bond

outrageous!!

I am trying to comprehend the vast amounts of money this Madoff moved around. It has always been the case that the higher you are up the tree the more crimes you can get away with without punishment so nothing changes there, see GW Dick and Co.

When I was working and claiming my monthly expenses receipts had to be shown for every penny I claimed or nothing was paid out to me. Surely somewhere along the line many people must have had suspicions that BILLIONS were being milked out of their respective systems yet no-one seems to care.

The guy is 70 years old so the rest of his life in jail would not be detrimental to him as with his vast wealth he would live the life of Riley in prison therfore his sons and all the company representitives should be prosecuted as an example that wankers, sorry bankers are not above the law I cannot believe the sons knew nothing.

We had a case in the UK concerning Robert Maxwell who fiddled millions from pension funds, he too had two sons who went on trial after Maxwell`s death and were let of as they say they knew nothing about their fathers financing . Maxwell is alleged to have commited suicide by jumping overboard from his yacht. Allegedly no-one knew what he was doing until after his death.

One law for the rich.One law for the poor still prevails

This really easy more rich folks out to make more money and their greed blinded them. I wish I could talk dummies out of the money like that.

Wolf in sheeps clothing........this makes me sad that hanging in a public square is against the law...he even stole from a childrens charity! disgusting!!

This is such a sore, very sore spot for me. Did you know that Vierotchka?? haha
No, seriously just yesterday I wrote a diatribe on Huffington or Salon, can't remember, but this man so needs to be locked up. If it could be possible he should be executed. How many lives has he destroyed? Most likely he will never make it right, and walk away because he has $$$$. White collar criminals are treated as a different species, not the same standard. I am sick of it.
Money and power, power and money. Hand in hand, in our country have literally taken over our lives, with immunity, they make choices everyday that effects us. Insurance companies, Pharmaceutical companies (OMG), Government programs, and then we must include virtually all services and products, as those go to the top, inevitably. Supply and demand is a joke. We get to choose from what the CEOs, CFOs all decide will be the most profitable. I' trying to remember when it was last that I demanded a service I wanted. The vendor is still laughing.
The P+VP are going to get away with war crimes and an illegal war. AIG et al will stay in their homes, and still get a bonus, the big 3 wasted away the automobile industry likely due to greed, and they haven't been shown the door, to my knowledge. There is them and there is us. All of these injustices, or rather no justice at all are a slap in the face of every average American. How do these people sleep?