I'd rather be Madoff right now than a laid off Latham first year. At least Madoff only has a few years of misery left.

probably something like his wife gets to keep the $72mm in assets and he accepts sole and full responsibility.

Elie: this is not CNN.com. We go there for real, hard news. We come here for law-related gossip and rumors, and to watch you cornhole the English language. Please stick to what you do best.

Any laid off Latham first years want to setup a commune? I fear we're going to be jobless a LONG time and we need to make the severance last.

If there were any justice in this land the plea agreement would require Madoff be locked in a room with Chompers the Chimp for 1 hour.

CHOMPERS!!!!!! I missed you!!!!!!!!!!!!!!!!!

If true, I would be interested to see what the terms are. I don't see him agreeing to more than 10 years (a de facto life sentence), and if the magnitude of what he is accussed of is accurate, I don't see the feds going for anything less than 20, regardless of fines/disgorgement/etc.

they should hire him as a fraud detector for the SEC.

i am dead serious.

any plea should require madoff do time in general population at a maximum security prison (though mot a supermax - too secure and well-run). i'd rather see him do 5 years at a max security prison in general population than 20 at a country club prison.

I would pay more to slap Elie

9 just described the plot of half the network "crime dramas:" on tv right now i.e. former criminal or scammer working for the govt, using their unorthodox skillz to solve teh crimes. horrible. toss the idiot in jail.

4 = winnar

CHOMPERS gunna eat your face, suckas!

I will be pissed if they let his wife keep those assets - they're obviously indistinguishable from the rest of the ill-gotten gains. You should realize that you if you engage in massive fraud with a business your entire family is wrapped up in all their assets and freedom are also at risk. And his brother should be in prison as well - he was the compliance office AND a lawyer, and if he didn't actually know what was going on he was criminally negligent.

Ernie should take some of that money and buy me MOAR DUSTER. *Sucks on Duster Can*

Unless the plea bargain is that Bernie will be drawn and quartered next Tuesday and the whole family will lose all their money and live in some shithole project in Bed-Sty, then I don't see what is to be gained by pleaing this out.

The rich are different from you and me, Gatsby.

Unless the plea bargain is that Bernie will be drawn and quartered next Tuesday and the whole family will lose all their money and live in some shithole project in Bed-Sty, then I don't see what is to be gained by pleaing this out.

The rich are different from you and me, Gatsby.

Every good whore knows you can't take money without givin' a li'l somethin' back!!!

Duster Girl meet Nervous--Nervous meet Duster Girl. Now fuck each other somewhere else.

I'll do stuff to nervous t-10 1L if he'll buy me DUSTER
*Sucks on DUSTER can*

he probably will get very little jail time in return for giving back the 10 billion he has hidden offshore.

LOL at 4, who gets his/her "real, hard news" from CNN.com!

sounds & looks like a hush deal for bernie & sorkin

He is taking the fall for the rest of his family. Glad to see that he has some sense of loyalty. Still, what a creep. But, then again, calling him a creep gives the run of the mill creeps a bad name. There is no way he engineered all of this alone working off his PC. You know his sons were involved. Let's see if the feds pursue this with the same vigor that they pursued, say. Scooter Libby. Doubt it. All of the steam is out of this prosecution. Given the trillions of welath lost in the market and the trillions Obama wants to spend, $50 billion is beginning to seem like a so-so amount.

Hope that if Bernie pleads, it includes sending his wife and kids to a cell near him, and that they all have a long happy life in the can..

I can forgive, but never forget.

In the Federal system, it is up to the Bureau of Prisons to decide where an inmate serves his time. The judge can make a recommendation, but it is not binding. If he receives a sentence in excess of ten years (which seems very likely indeed), he will not be eligible for a camp. My guess is that he will end up in a medium-security institution, and develop ailments, and will spend the rest of his time in a secure prison hospital.

To be fair the prosecutors should offer Bernie three alternative plea agreements. Hanging, electrocution or firing squad.

To be fair the prosecutors should offer Bernie three alternative plea agreements. Hanging, electrocution or firing squad.

To be fair the prosecutors should offer Bernie three alternative plea agreements. Hanging, electrocution or firing squad.