Bernie Madoff Gets 150 Years; Meanwhile His Investors Get to Eat Top Ramen
While it surely makes you feel all warm and bubbly inside to know that one of the assholes who helped lead us into this economy is going to get his wrinkled ass pummeled for 150 years, it certainly doesn’t offer much to those who trusted him with their money. 13 Billion in losses (oh, and plus the $40,000 or so a year it takes to incarcerate someone, also paid by US taxpayers…)
â€œI live in a tormented state,â€ Madoff told Chin in a five-minute speech after victims had concluded their comments. â€œI believe when I started this problem, this crime, it was something I’d be able to work out of.â€
At the end of his statement, Madoff turned to face a courtroom audience of 250. He pivoted to the right, bowed in the direction of dozens of his victims and told them he would â€œlive with this pain for the rest of my life.â€
â€œI know I did a great deal of harm,â€ Madoff said in a gruff accent of the New York City borough of Queens, where he was raised. â€œNothing I can say can correct what I’ve done.â€
The courtroom erupted in applause and shouts after Chin imposed the sentence. Several victims brushed away tears, as Madoff, who wasn’t handcuffed, was let out a side door by two U.S. marshals.
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