Tuesday, June 30, 2009

Madoff or GIPS 2010, Madoff or GIPS 2010, ...

Okay, I'll comment on both:

Madoff - 150 years is the right sentence. The max is what this man deserves given what he did to many faithful and trusting friends and investors. Even his wife and sons have (rightly) turned their backs on this man. It's difficult to fathom how someone could have done what he did, but then again there are many crimes for which there is simply no answer. Man's inhumanity to man continues.

GIPS 2010 - okay, there are only a few hours more to get your comments in. Think enough folks have spoken? Not really ... unless you're one of them. Don't want to comment on everything? Fine, just comment on the item(s) you feel most passionate about. The GIPS EC wants to hear from you. In looking at the list of commenters (is that a word?) there are many friends and associates who are missing. So please, let the EC know what you think!


  1. In New York the penalty for first-degree murder is 25 years to a maximum of life imprisonment without the possibility of parole, Given that the longest one might live is realistically around 100 years, then the longest one might serve in prison after being convicted of murder is about 80 years. This means that Madoff was given twice the sentence of a murderer for stealing a lot of money. What does it say about our society that we punish theft (the taking of property) more severely than we punish murder (the taking of innocent human life?)

  2. Interesting way to view this. I doubt if anyone expects Bernie to serve the full 150 ... he's 71, so perhaps he'll serve 10-30 years at most. The 150 is more symbolic. The WSJ yesterday cited others who were convicted for 300+ years; again, doubtful they'll be serving quite that long (one didn't even make it more than a few years). The real shameful action is when a football player gets drunk, gets in his car, and kills someone, and for that he gets 30 days. If you want to talk about injustice consider that!


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