Plea Deal Said To Be In Works For Bernie Madoff (Story developing)

CNBC ^ | 03/06/09

[SunkenCiv]

Madoff screwed a bunch of libs, including the ACLU. Hasn’t he been punished enough? ;’)

[Mad_Tom_Rackham]

He’s pretty good at theft. There ought to be a high level position available in the Obama Administration for someone of his talents.

[SoldierDad]

I don’t recall what the length of their sentences were, but Madoff deserves life IMHO.

[MAD-AS-HELL]

ah ok! my apologies then. I will remove my foot from your ass! :P

Talking about Seahawks, did you hear the Brian Bosworth was pulled over for DUI this morning in Hollyweird?

[SeaHawkFan]

Actually, I’m not a Seahawk fan. It picked this name to help hide my identity. I don’t even live in the state of Washington now; although I once did.

[Red in Blue PA]

Steal $50 BILLION and still get a plea deal?

What is wrong with this country?

[w1andsodidwe]

I have always thought that incarceration should be reserved for those who are a physical danger to other. I think there are ways to punish him without putting him in jail.

Granted these a very different levels of crime, but I never understood the imprisonment of Martha Stuart. Why should we waste our money paying the room and board for these kinds of people.

Punish them harshly monetarily, put them on house arrest, monitor their ability to do the same crime again are all fine. But wasting thousands of dollars every year for providing food and clothing is just unnecessary.

[MAD-AS-HELL]

then i am on a roll here! And thanks for joining our community on FR, President Obama! :P

[popdonnelly]

The guy’s a thief.

[Attention Surplus Disorder]

“Look at the bright side - it will be the first trade he has made in years.”

Line of the day BUMP.

[Liz]

Harry Markopolos: Madoff’s Brother Said to Audit Firm’s Investments, Tipster Says Only Peter Madoff was authorized "to audit" fund performance "for reasons of secrecy".

Among other things, Peter Madoff was a Chief Compliance Officer at his brother Bernie's firm. Peter was also a director of several securities associations and exchanges. Peter's daughter Shana, was Bernie' firm's compliance officer.

Here's Peter Madoff's house.

As the No. 2 executive at Bernard L. Madoff Investment Securities LLC, Peter Madoff worked side by side with his older brother Bernard for nearly 40 years. Peter was viewed as Bernie's heir apparent so the brothers tried to avoid flying together when they went on skiing trips together. Now, they are keeping their distance. Peter has stopped coming into the office and isn't talking publicly about his role at the securities firm, where he headed trading operations.

Peter's daughter also joined the family business. She worked primarily as a "compliance lawyer" at Madoff Securities' market-making arm at the time of her uncle's arrest.

[StAnDeliver]

"Not imprisoning Madoff equals -300 to -500 DJ points. Not imprisoning him ratifies fraud, and I predict it will have a very negative psychological effect on the market. Please forgive me for yet another one of my neanderthal oversimplifications."

Why would you need forgiveness, or even an indulgence? There was an Oct. 2008 poll (the nadir of the Fannie/Freddie crisis) that showed investor confidence could be immediately restored by perp walks; namely, Dodd, Bahwney, Biden, et al. You have never seen the MSM bury a poll quicker in your lifetime.

[dfwgator]

Madoff should spend the rest of his life behind bars without the possibility of parole!

In Gen Pop.

[StAnDeliver]

One thing I believe works against these Nadoff’s is that they are all grinning jackasses...

[RobRoy]

Plea deal? You mean where he gets to plead “not guilty” or guilty?

How about this: Save us court costs and we’ll only put you in prison for the rest of your life and sell off all your stuff. Otherwise we do it anyway and waterboard you every day at 10:00 am, eastern time.

[Attention Surplus Disorder]

Donning my most revered tinfoil hat now, you know, the one with the fewest crinkles in it, dusting it off, and picking the matching glittery socks....

Think this could be another move to enhance the hatred of Wall Street?

[Liz]

One thing I believe works against these Nadoff’s is that they are all grinning jackasses…

LOL----that about sums it up-----grinning jackasses...

[onemiddleamerican]

I thought you should know; apparently Obamanation's Justice Department is giving you to Bernie Madoff. Whatever you do, don't answer your door!

;-)

[evad]

Bernie will not serve 1 minute in the pokey.

You'll be amazed at how much of his assets he will be allowed to keep.

[evad]

Bernie will not serve 1 minute in the pokey.

You'll be amazed at how much of his assets he will be allowed to keep.