Judge Denny Chin said that the sentence was necessary to deter other people from entering into these kinds of schemes.
The Judge apparently said that he was struck that there was no letter written in support of Bernie Madoff. On the other hand, the judge received 141 pages of letters from Madoff victims.
Madoff allegedly said:
They have accused me and my wife of not being sympathetic. She cries every night, I am also tormented.
Umm … crying doesn’t make you sympathetic. I think instead of turning on the waterworks, Madoff should try not stealing billions of dollars.
But Madoff did apparently say: “I am sorry.”
But the pitchfork rally doesn’t have to end here. Next up: what prison will Madoff be heading to? A “club-fed” facility, or someplace where Madoff might expect “more bareback.”
For extensive and ongoing coverage of L’Affaire Madoff, surf over to our sister site, Dealbreaker.