Madoff is Already in Jail

Bernard Madoff, scammer, 70 years old, worth $823 million dollars, master of the Ponzi scheme, pled guilty on Thursday, and now faces a maximum 150 years in prison. By the time the sentencing hearing comes around, he might actually be sentenced to 15-25 years in prison, and eventually be released early if he’s a good boy. The judge revoked the possibility of bail, so unless an appeal of that decision is successful, it looks like his sentence has already begun. Good. Sit there and rot.

Oddly enough, though, I find myself not having excessive amounts of sympathy for most of the folks who were had by him. I look at it this way: the ones who had millions to invest probably live quite well; if they had excess cash lying around, and decided to gamble with it (because, come on, that’s what the stock market game really is: one big gambling high), then they have to take the lumps with the likes. Sometimes, when you gamble, you win. Other times, you lose. This time, you lost…to a fellow who was determined to not lose his gamble. They’re all fish swimming in the same pond. At least they still have their beautiful houses and luxury SUVs, although they might have to give up a car or two to make up for the retirement plan they are now short of.

On the other hand, when poor people lose their homes, their jobs, their cars, whatever…they lose everything. They are not losing an excess of anything…they lose it all. Starting over, for them, is a hell of a lot more difficult than it will be for many of the victims of Madoff, master of Ponziville. They don’t concern themselves with questions of how they will sustain themselves in retirement, because they’re too busy freaking out wondering how they will feed them families tomorrow. While the wealthy can revel in righteous outrage, the poor can only quiver in fear. Maybe it’s the socialist in me, or maybe my heart is altogether too hard, but while I certainly want the wealthy victims to see justice, my heart is not spilling drops of blood for them.

And that is why I am not altogether interested in Bernie Madoff and have not blogged about him at all. Meh.

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5 Responses to Madoff is Already in Jail

  1. realistic bird says:

    When will this happen to the madoffs here? 😡 Wanting social justice is not socialism per say. I find it funny when I listen to some American shows and they make socialism like the boogie man that they have to stay away from even if the alternative is catastrophic, though no one is asking for socialism right?

    No one was really looking out for what these people are up to but when the crisis came then they went to look for these criminals, too late people, too late.

  2. America seems to associate socialism with Communism…and it makes the wealthy scared that everything they “worked so hard for” is going to be given away to the “no-good loafers.” Except that a) it would, of course, never happen that way, b) they are not the only ones to “work so hard,” and c) promoting a fair and equitable for all of society is not exactly evil incarnate!

    I wish it would happen to the Madoffs everywhere! Even if too late…better late than never!

  3. Hey Salaams!

    I like yourpoint of view, quite an interesting take on things!

    I want to disagree with you on one thing… but I am not sure how to 😀 See, the investors in the Ponzi scheme were not only individuals, there were a lot of pensions and savings who had invested into this as well. Furthermore, the investments “could” have been made in good faith and into ethical investments. So it may be naive to say that people put their excess cash into this scheme.

    Saying that, I think I agree with your socialist side too! 🙂

  4. Cookie Monster, Wasalaam 🙂 You can disagree with me anyhow you like, I will never mind. See, I’m still not spilling drops of blood…except for those who really did lose their savings/pensions and are facing absolute financial ruin and devastation. The thing that irked me was when I read that someone lost 2.5 million dollars in this scheme. I thought to myself, “Why wasn’t 2.5 million enough? Did you really foresee your life being nothing with just 2.5 million?” I feel bad that they really were victims of an enormous crime. But, they will find their ways back on their feet, because they were wealthy enough to have a network of professional and personal colleagues who will find them jobs, etc. that will help them weather all of this. So, yes, I agree with you, I am being a bit simplistic and naive…but I kind of hold on to my simplistic point of view…because it’s inspired by my….

    …socialist side, which rocks 😉

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