Madoff to plead guilty

[jlw1980]

http://www.msnbc.msn.com/id/29612242/

NEW YORK - Bernard Madoff’s lawyer has told a judge his client will plead guilty later this week to 11 counts including money laundering, perjury and securities, mail and wire fraud.

Prosecutors said the disgraced money manager will face up to 150 years in prison on the charges.

The details of the criminal case emerged at a hearing Tuesday to resolve several potential conflicts of interest between Madoff and his lawyer, Ira Sorkin.

[montrealer]

Well.........I guess that makes it OK.....Mark my words. There is a X on his back.

[jlw1980]

Well.........I guess that makes it OK.....Mark my words. There is a X on his back.

I think so, too.

[RhodyYanksFan]

Pleading guilty probably keeps him out of gen pop.

[jlw1980]

Pleading guilty probably keeps him out of gen pop.

It shouldn't.

[Pinstripedbass]

Pleading guilty probably keeps him out of gen pop.

Probably doesn't matter in a prison for white collar criminals.

He's probably in more danger going back & forth from his apartment. He has to wear a bullet-proof vest when he's on the street.

[GiambiRocks]

So does the wife get to keep "her" millions?

[4bronxbombers]

^^^ I was wondering the same thing.....she gets to reap the benefits of loads of cash, diamonds, designer clothing, exotic trips, luxury that most of us can't imagine.....it's sickening.

[LDG]

Letterman was all over "Ruth" last week. It was pretty evident he was gnashing his teeth the entire time he spoke of her.

I wonder what she did with the $15M she withdrew in the weeks leading up to her husband's case?

[Octoberbaby]

^^^ I was wondering the same thing.....she gets to reap the benefits of loads of cash, diamonds, designer clothing, exotic trips, luxury that most of us can't imagine.....it's sickening.

Everything should be taken from them and given to the victims especially since they tried to hide these assets. I am sure they have hidden a lot more we don't know about. Since he gave himself up he had time to plan these things.

[ny]

^^^ I was wondering the same thing.....she gets to reap the benefits of loads of cash, diamonds, designer clothing, exotic trips, luxury that most of us can't imagine.....it's sickening.

She also has a 65mm muni portfolio. They should take all the assets and throw her ass in the street and let her rot. They better go after his sons as well because no chance in hell that they weren't involved.

[Jersey Yankee]

She also has a 65mm muni portfolio. They should take all the assets and throw her ass in the street and let her rot. They better go after his sons as well because no chance in hell that they weren't involved.

I have no idea how she could have that much money and be allowed to keep it. There were too many billions, even if not $51 bil, to have her keep any of that. The penthouse should be sold, and Ponzi should be some AIDS-infected dude's beyotch.

[JDPNYY]

The guy has an appropriate last name.

[Mark19]

He will probably go to that minimum security resort in Connecticut where Martha Stewart went.

His malicious greed destroyed lives. He should live in a latrine pit for the rest of his natural existence.

The worst thing is this all could have been stopped may years ago if Meaghan Cheung and Chris Cox at the SEC hadn't been so corrupt and incompetent.

One of the most disgusting episodes in US regulatory history. Anyone interesting in the history of this scandal should read up on the works of Harry Markopolos.

http://www.bloomberg.com/apps/news?p...=axvJfch6PDjs&

[Melan-cynic]

Guess he can stop smiling now. What a doosh.

[penguin4]

I know that torture is considered cruel and unusual punishment, but in Bernie's case, can we make an exception?

F@ck him.

[DontHateOnNumber2]

150 years.....that's heavy, doc. He's a piece of sh-t for screwing all those people though. I wonder what will happen first. Gang rape or him getting shanked.

[Octoberbaby]

He deserves worse but will probably go to a minimum security prison for white collar crimes.

Has anyone noticed when they show the picure of his profile headshot on the news that it looks like George Washington? So ironic!

[Jersey Yankee]

I know that torture is considered cruel and unusual punishment, but in Bernie's case, can we make an exception?

F@ck him.

Feed him to the crocs? Or have some freakin' arsed wild chimps do a number on his face.

http://johnlarroquetteproject.com/wo...dieval-fun.jpg

http://img239.imageshack.us/img239/3184/torture8ms.jpg

http://www.cartoonstock.com/newscart...s/jsin208l.jpg

[penguin4]

Feed him to the crocs? Or have some freakin' arsed wild chimps do a number on his face.

http://johnlarroquetteproject.com/wo...dieval-fun.jpg

http://img239.imageshack.us/img239/3184/torture8ms.jpg

http://www.cartoonstock.com/newscart...s/jsin208l.jpg

All of it. It's too kind.

[Jersey Yankee]

All of it. It's too kind.

We could either introduce him to Lorena Bobbitt, then give him all the back issues of Playboy, or ...

http://www.fromthewilderness.com/images/3stampede.jpg

http://www.travelwritersnews.com/wp-...oads/croc3.jpg

http://www.girr.org/vacation_diaries...re_chamber.jpg

http://www.7is7.com/otto/komodo/dragon-attack.jpg

http://www.cartoonstock.com/newscart.../mban1510l.jpg

[penguin4]

We could either introduce him to Lorena Bobbitt, then give him all the back issues of Playboy, or ...

http://www.fromthewilderness.com/images/3stampede.jpg

http://www.travelwritersnews.com/wp-...oads/croc3.jpg

http://www.girr.org/vacation_diaries...re_chamber.jpg

http://www.7is7.com/otto/komodo/dragon-attack.jpg

http://www.cartoonstock.com/newscart.../mban1510l.jpg

Or simply, "To the pain!" As described henceforth:

I'll explain and I'll use small words so that you'll be sure to understand, you warthog faced buffoon. ... To the pain means the first thing you will lose will be your feet below the ankles. Then your hands at the wrists. Next your nose. ... The next thing you will lose will be your left eye followed by your right. ... Your ears you keep and I'll tell you why. So that every shriek of every child at seeing your hideousness will be yours to cherish. Every babe that weeps at your approach, every woman who cries out, "Dear God! What is that thing?" will echo in your perfect ears. That is what to the pain means. It means I leave you in anguish, wallowing in freakish misery forever.

[JeterRodriguezSheff]

As much as i resent his actions, he deserves the same treatment as everybody else. Exchanging a plea of guilty for a lesser sentence or a better prison is common place in the justice system. And to be honest, putting him in with the rest of the population would likely result in his death.

[JL25and3]

I don't necessarily see him as being a big target in prison. He's a rich guy who stole a lot of money from other rich guys. I doubt it affected very many prisoners.

[West Texas]

I don't necessarily see him as being a big target in prison. He's a rich guy who stole a lot of money from other rich guys. I doubt it affected very many prisoners.

I agree.

[Mark19]

I don't necessarily see him as being a big target in prison. He's a rich guy who stole a lot of money from other rich guys. I doubt it affected very many prisoners.

Madoff didn't just rip off other financiers. He ripped off universities, charities and many ordinary people whose pensions and savings were tied into one of the various feeder funds he set up.

I never knew the guy but if given the chance, I'd push him down a flight of stairs.

[JL25and3]

Madoff didn't just rip off other financiers. He ripped off universities, charities and many ordinary people whose pensions and savings were tied into one of the various feeder funds he set up.

I never knew the guy but if given the chance, I'd push him down a flight of stairs.

I think plenty of people here might. I just don't think most prisoners will feel the same way.

[penguin4]

I think plenty of people here might. I just don't think most prisoners will feel the same way.

Yeah, for many guys, a hole is a hole.

[SalingerNY]

I hate to point this out, but I think the S&L asshats who went to prison in the 80s managed just fine in prison. Madoff will probably die of old age in there, but he deserves a heckofa lot worse.

Really in a case like this the government ought to be able to take all their possessions, convert them into cash, and distribute it to those who lost everything from the ponzi. You commit a crime this large, you forfeit your goddamn fortune.

[Jersey Yankee]

I hate to point this out, but I think the S&L asshats who went to prison in the 80s managed just fine in prison. Madoff will probably die of old age in there, but he deserves a heckofa lot worse.

Really in a case like this the government ought to be able to take all their possessions, convert them into cash, and distribute it to those who lost everything from the ponzi. You commit a crime this large, you forfeit your goddamn fortune.

Exactly, and every single thing owned by the wife, the sons and any other principal in the place gets forfeited. If they have anything under their mattresses, any homes, cars, everything is taken away.

Madoff is 70, so that 150 year sentence is meaningless. They could give him 5-10 years and he'd still drop dead in there.

[JeterRodriguezSheff]

Exactly, and every single thing owned by the wife, the sons and any other principal in the place gets forfeited. If they have anything under their mattresses, any homes, cars, everything is taken away.

Madoff is 70, so that 150 year sentence is meaningless. They could give him 5-10 years and he'd still drop dead in there.

I havent really followed this since it broke, were his sons involved?

[Jersey Yankee]

I havent really followed this since it broke, were his sons involved?

I think that the sons once worked for the company, and they "turned in" their so-called "father" to the authorities, feigned outrage and disgust.

I hope that the IRS and a bunch of ruthless bill collectors go after every single penny they own. If they even have two pennies to rub together, they should give that up also.

Nothing they own should be considered theirs.

[4bronxbombers]

It really bugs me that the wife is off scott-free (and the sons I guess?) who reaped benefits from other people who lost just about everything.

[jlw1980]

I hate to point this out, but I think the S&L asshats who went to prison in the 80s managed just fine in prison. Madoff will probably die of old age in there, but he deserves a heckofa lot worse.

Really in a case like this the government ought to be able to take all their possessions, convert them into cash, and distribute it to those who lost everything from the ponzi. You commit a crime this large, you forfeit your goddamn fortune.

[Luvtino]

Really in a case like this the government ought to be able to take all their possessions, convert them into cash, and distribute it to those who lost everything from the ponzi. You commit a crime this large, you forfeit your goddamn fortune.

I'm infuriated that they aren't doing just that. People lost their retirement and all their money so he shouldn't get to keep a freakin' penny. Sell it all off and give it all to those he ripped off. If I'm this angry I can only imagine how these poor people feel.

[SalingerNY]

I'm infuriated that they aren't doing just that. People lost their retirement and all their money so he shouldn't get to keep a freakin' penny. Sell it all off and give it all to those he ripped off. If I'm this angry I can only imagine how these poor people feel.

One thing I've seen is that the prosecution has no choice but to work with him, because he's the only one who knows where all the money is. If there's any hope of getting some of the funds back, they've got to work with him and his attorneys. Personally, I'd like them to say to hell with that and get medieval on his ass.

[Jersey Yankee]

One thing I've seen is that the prosecution has no choice but to work with him, because he's the only one who knows where all the money is. If there's any hope of getting some of the funds back, they've got to work with him and his attorneys. Personally, I'd like them to say to hell with that and get medieval on his ass.

Who needs medieval when we can simply use the highways?

http://www.thylazine.org/gallery/roadkill/Rkill1a.jpg

[Luvtino]

One thing I've seen is that the prosecution has no choice but to work with him, because he's the only one who knows where all the money is. If there's any hope of getting some of the funds back, they've got to work with him and his attorneys. Personally, I'd like them to say to hell with that and get medieval on his ass.

Me too. The pandering makes me sick. His ass better be in the slammer on Thursday.

[Octoberbaby]

I hate to point this out, but I think the S&L asshats who went to prison in the 80s managed just fine in prison. Madoff will probably die of old age in there, but he deserves a heckofa lot worse.

Really in a case like this the government ought to be able to take all their possessions, convert them into cash, and distribute it to those who lost everything from the ponzi. You commit a crime this large, you forfeit your goddamn fortune.

Exactly what I said earlier on. What I was pointing out is that he has tried over and over to hide or keep assets and for that reason alog with all the others they should take everything from him.

[Jersey Yankee]

Exactly what I said earlier on. What I was pointing out is that he has tried over and over to hide or keep assets and for that reason alog with all the others they should take everything from him.

Yeah, but he's put everything into his wife's name, saying that this was all separate from the corporation.

[Octoberbaby]

Yeah, but he's put everything into his wife's name, saying that this was all separate from the corporation.

You can't just put something in someone else's name and that is the end of it. If the woman did not inherit money and never earned a dime on her own then how did she get all those millions and a 7mill penthouse? The authorities will be exploring this.

[Jersey Yankee]

You can't just put something in someone else's name and that is the end of it. If the woman did not inherit money and never earned a dime on her own then how did she get all those millions and a 7mill penthouse? The authorities will be exploring this.

You have a good point. The "ill-gotten gains" thingy isn't transferrable.

If the money is forfeitable, then I want them out on the street panhandling, then even take that from 'em.

I still want to know where those investments went. Supposedly, he had to keep getting new investors for when others cashed out. But what happened to the money beyond this? The houses, trips, cars, boats, other investments?

We need a few chimpanzees to run ape sh!t on all of 'em.

[RYMASTER or Ryan_Yankees]

Since he's pleading guilty, he has absolutely no incentive to tell the investigators where the money went, which means nobody will be getting reimbursed.

[Pinstripedbass]

Madoff should be sentenced to live in a slum in a place like South Bronx or Irvington, NJ. He should be made to do it on $25,000 a year.

Just like Joe Pesci in "The Super".

[Jersey Yankee]

Madoff should be sentenced to live in a slum in a place like South Bronx or Irvington, NJ. He should be made to do it on $25,000 a year.

Just like Joe Pesci in "The Super".

From what I remember about that movie, it was based upon a real NYC building owner dubbed the "Dracula" slumlord by the judge, around 1987 or so. There was no heat or hot water, huge rats, broken doors & windows, and the guy refused to make repairs. So the judge sentenced the guy to live in the most notorious of the apartments until every single one was repaired. That sentence was hugely successful amongst regular people.

[Yankee Tripper]

I don't wish him any physical harm but I do hope he spends the rest of his days behind bars and that they sieze not only his assets but the assets of his wife and any ill gotten gains his family has reaped over the last 10+ years.

[SalingerNY]

As much as I dislike this dude, it was bizarre watching the news this morning. Somebody had a helicopter following his car from his home to the courthouse. That was really unnecessary.

[SoCal Pinstriper]

As much as I dislike this dude, it was bizarre watching the news this morning. Somebody had a helicopter following his car from his home to the courthouse. That was really unnecessary.

They needed to follow the car because of the slim possibility that someone might try to inflict harm on him in transit. If that had taken place, and there was no video, the producers who OKed the decision not to follow the car would have been immediately canned.

Such is the sad current state of our news media.

[jlw1980]

They needed to follow the car because of the slim possibility that someone might try to inflict harm on him in transit. If that had taken place, and there was no video, the producers who OKed the decision not to follow the car would have been immediately canned.

Such is the sad current state of our news media.

Too bad it didn't happen.

[Jersey Yankee]

http://www.nypost.com/delonas/2009/03/03122009.jpg