Ruth Madoff moves out of the penthouse and U.S. marshals move in. Meanwhile, Bill Bonner ponders...

Ruth Madoff moves out of the penthouse and U.S. marshals move in. Meanwhile, Bill Bonner ponders the logic of locking up Bernie for 150 years: "We’re not sure the man doesn’t come out at least as well as many of his accusers. While Bernie was pretending to make his investors rich, the SEC was pretending to protect them from Bernie."

Comments

[Neil459]

Just read the letters from the victims posted earlier. No doubt he should spend the rest of his life in jail.

But Madoff is not the real villain. The real villain is the SEC and DoJ. The SEC supervisor that diverted the SEC from investigating Madoff is married to Madoff's niece.

He should go to jail also.

[klarsolo]

Some of the "logic" in that article makes me cringe. He states Madoff's crime is as common as tax evasion and then wonders who gets 150 years for tax evasion. Oh really? Ponzi schemes that defraud people of all their money is as common as tax evasion? That's news to me. Isn't this argumentation the definiton of a straw man fallacy?

Then he rambles on in the next paragraph, committing the slippery slope fallacy: "so he lied with his returns...so what, if you put everybody away who did that prisons would be full". What is this supposed to mean? That you should ignore it? Oh, because so many people do it, let's just ignore it then?

What a douche.

[AnOilMan]

This man is delusional. He would prefer that the punishment for financially robbing private citizens in the billions of dollars be community service? pffft