Bernie Madoff

Breaking: Madoff Sentenced to 150 Years

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Bernie Madoff has been sentenced to 150 years.

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.

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Morning Docket 5.07.09

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piggy bank.jpg* A Los Angeles Judge accused an asbestos litigation firm of playing “a grisly game of asbestos litigation” after they refiled a Texas case in California because it has more exacting standards for a defendant to obtain summary judgment. Perhaps, judge, you’ve lost a little perspective? [ABA Journal]
* A German court rejected a woman’s appeal to take her married name Frieda Rosemarie Thalheim-Kunz-Hallstein because it is too long. [Time.com]
* “Across Georgia, poor people accused of crimes are being abandoned by their lawyers because there is no money to pay their legal fees” (this might put deferred start dates in to perspective).[The Atlanta Journal Constitution]
* Madoff “turned his investment firm into his ‘personal piggy bank,’” using the ponzi money for his family’s expenses. Personally, I have no energy for renewed outrage. [Bloomberg.com]

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