He admitted guilt and has to stay in his home

[Pete Serotta]

Free enterprise....Ray this is just for you

NEWS ALERT
from The Wall Street Journal


Dec. 17, 2008

A bail hearing for Bernard Madoff was canceled after the money manager agreed to terms requested by the government, including home detention in his Manhattan apartment and a curfew of 7 p.m. to 9 a.m. Madoff, arrested last week on fraud charges for allegedly running a giant Ponzi scheme, will also be required to wear an electronically monitored ankle bracelet. His wife will surrender her passport and pledged properties she owns in Manhattan, Montauk, N.Y., and Palm Beach, Fla., to help secure the $10 million bond.

[soulspinner]

Crime does pay if your far enuff up the white collar ladder..........he wont end up in a real big house....

[DukeHorn]

The lawyer in me always find the way we treat white collar and blue collar crimes so differently somewhat entertaining and hypocritical. I won't even go into the racial statistics of the imposition of the death penalty (but we all know what's going on there). Anyway, let's infer a bit on this Madoff situation.

If we followed Scalia's dissenting opinion under US v. Booker on the "mandatory" Federal Sentencing Guidelines, it would be have been entertaining seeing how a small time drug user gets automatic jail time, while someone who embezzled 50 billion dollars will get his day in court and probably a wrist-slap.

I forgot, what's more detrimental to our society?? Drugs? or white collar crimes that ruin the middle class (think Enron, mortgage derivatives)?

Oh yeah, but we definitely need more than the current 7 justices appointed by Republicans (going back to an earlier thread). We need all of them to be Republican appointed to protect the oh so "rational" free market. Again, someone explain to me how any system run by human beings can be inherently rational, especially when as a society we decide not to police the system??? Explain to me why we don't count on felons to report their own crimes but somehow expect corporations to self-report?

Why do we study "robber barons" in American history back when the US government never regulated and somehow expect things to turn out differently 100+ years later. Ah, because as a society, our businessmen are more "enlightened" now. Gotcha......

"Under current law, possession of five grams or more of crack cocaine triggers a mandatory minimum sentence of five years in prison; simple possession of any quantity of any other controlled substance (except flunitrazepan) by a first-time offender – including powder cocaine – is a misdemeanor offense punishable by a maximum of one year in prison."

[csm]

how much different is what this guy did compared to what the folks running fannie mae and freddie mac did? or compared to what any of our elected officials have done? they're all running one great big ponzi scheme.
that should be his defense. If I was on that jury I'd think long and hard about convicting him given the other offenses we are hearing and seeing daily.
it is starting to look like the list of those not asking for a bailout of some sort is gonna be shorter than the list of those who are.
just sayin....

[LegendRider]

Originally Posted by csm

how much different is what this guy did compared to what the folks running fannie mae and freddie mac did? or compared to what any of our elected officials have done? they're all running one great big ponzi scheme.
that should be his defense. If I was on that jury I'd think long and hard about convicting him given the other offenses we are hearing and seeing daily.
it is starting to look like the list of those not asking for a bailout of some sort is gonna be shorter than the list of those who are.
just sayin....

One is illegal and immoral and the other is just immoral.

[csm]

yes but which is which.
obviously I know but.....

[93legendti]

Originally Posted by Serotta_Pete

And the point is what? Thanks

http://forums.thepaceline.net/showpo...&postcount=107

[saab2000]

Originally Posted by soulspinner

Crime does pay if your far enuff up the white collar ladder..........he wont end up in a real big house....

Hard to say. Bernie Ebbers stole some of my money and I think he will die in jail. Not a bad outcome if you ask me.

[csm]

from what I heard this morning there is some accountability in the SEC over this too. that ought to fall in his favor.
just when I think it can not possibly get any worse.....
Monday rolls around!!!!

[Ozz]

Originally Posted by csm

from what I heard this morning there is some accountability in the SEC over this too. ....

???

Character is what you do when no one is looking.....

I would label this guy and other "white collar" crooks as domestic terrorists for the problems they have caused the whole country and world....exactly what bin Laden wanted.

Gitmo and waterboards for the lot!

[Viper]

Originally Posted by 93legendti

http://forums.thepaceline.net/showpo...&postcount=107

Are you upset because Bernie Madoff did his best to promote his xxxxx, only his xxxxx, lied to them and cost them $50B? You know there are financial institutions already asking to have this $50B addressed by a US Governement bailout.

http://www.reuters.com/article/gover...F6597520081215

Sorry Viper = this needed to be deleted.....It is investors and not anything else

(Please go to the article if you wish more info...also MANY investor and charities got taken -THanks PETE)

[97CSI]

Originally Posted by DukeHorn

Oh yeah, but we definitely need more than the current 7 justices appointed by Republicans (going back to an earlier thread). We need all of them to be Republican appointed to protect the oh so "rational" free market. Again, someone explain to me how any system run by human beings can be inherently rational, especially when as a society we decide not to police the system??? Explain to me why we don't count on felons to report their own crimes but somehow expect corporations to self-report?

Why do we study "robber barons" in American history back when the US government never regulated and somehow expect things to turn out differently 100+ years later. Ah, because as a society, our businessmen are more "enlightened" now. Gotcha......

Believe it is that our businesspeople (don't forget the ruinous Carley Fiorinna sp? and Christie Whitman, amongst others) are better able to and do purchase the politicians (Dodd, Schumer and all republicans and most all democrats). Congress leads the way and they refuse to police themselves, so what chance do we mere mortals have, I ask you.

[csm]

the SEC had oversight on this guy. they ignored the signs; he reported transactions with APPLE at $100 at a time when APPLE was trading at /around $92 as just one example.

I'm betting there is some govt official-type folks that had some dough tied up with this clown and will protect him rather than get exposed.
anyone wanna bet that the Clinton's had some money invested through him? maybe not directly but through one of their "charities?"
can not wait for the book......

[sloji]

"The lawyer in me always find the way we treat white collar and blue collar crimes so differently somewhat entertaining and hypocritical. I won't even go into the racial statistics of the imposition of the death penalty (but we all know what's going on there). Anyway, let's infer a bit on this Madoff situation.

If we followed Scalia's dissenting opinion under US v. Booker on the "mandatory" Federal Sentencing Guidelines, it would be have been entertaining seeing how a small time drug user gets automatic jail time, while someone who embezzled 50 billion dollars will get his day in court and probably a wrist-slap."

American the beautiful is just another cult, so what's new. There is just enough freedom and wilderness to go unnoticed and enjoy. IT's the job of the cult to keep you working for them and they have a plan for you, it's called education and employment, and if you believe in both you are told you will prosper and get a place at the front of the line. There is justice at the front, freedom, cars, money, but most of all you will be respected, looked up to and won't go to prison for nearly anything you do...congratulations you've arrived.

It's time for a bike ride on the roads that slaves built, time for my lunch hand picked by slaves, time for me to forget that the wolves are at my door with a righteous grin and keys to the kingdom if only I will submit...

[Viper]

Originally Posted by sloji

American the beautiful is just another cult, so what's new. There is just enough freedom and wilderness to go unnoticed and enjoy. IT's the job of the cult to keep you working for them and they have a plan for you, it's called education and employment, and if you believe in both you are told you will prosper and get a place at the front of the line. There is justice at the front, freedom, cars, money, but most of all you will be respected, looked up to and won't go to prison for nearly anything you do...congratulations you've arrived.

It's time for a bike ride on the roads that slaves built, time for my lunch hand picked by slaves, time for me to forget that the wolves are at my door with a righteous grin and keys to the kingdom if only I will submit...

From my pov, the Irish built America.

http://www.youtube.com/watch?v=iq5qaTSSCwg

http://www.youtube.com/watch?v=bUela...eature=related

Watch Star Wars, Episode I and II, Anakin's mom has an Irish brogue. We built the galaxy too atmo.