Madoff pleads guilty

2009-03-12 07:31:07

#1

Mekstizzle: WALKER; +3,611|6617|London, England

Disgraced US financier Bernard Madoff has pleaded guilty to all 11 charges surrounding a $50bn (£35bn) fraud.

"How do you plead?" Judge Denny Chin asked Madoff as the hearing opened in the New York courtroom.

"Guilty," he replied.

Mark Raymond, a lawyer representing some of Madoff's victims, said it would be wrong to think of them all being multimillionaires.

Despite widespread press coverage of famous names and a wealthy elite, Mr Raymond, of law firm Broad and Cassel, said many were normal working people, including a retired couple from Atlanta.

"He's 82, she's 78, and they are both looking for work because they have lost everything," he said.

http://news.bbc.co.uk/1/hi/business/7939847.stm

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What do you reckon's gonna happen to this guy? He still is a very rich man with what I'd assume is lots and lots of friends in Washington, I'd say not much. Good old Justice system...

Last edited by Mekstizzle (2009-03-12 07:31:29)

2009-03-12 07:34:03

#2

FatherTed: xD; +3,936|6496|so randum

Just read.

And yeah, i agree with you re; what's going to happen next.

Small hourglass island
Always raining and foggy
Use an umbrella

2009-03-12 08:51:46

#3

Turquoise: O Canada; +1,596|6401|North Carolina

Hopefully, assassination will happen next.

2009-03-12 08:52:45

#4

S.Lythberg: Mastermind; +429|6443|Chicago, IL

Turquoise wrote:
Hopefully, assassination will happen next.

if he gets off, the public will kill him an those who acquitted him

2009-03-12 08:57:05

#5

Turquoise: O Canada; +1,596|6401|North Carolina

One can only hope.

2009-03-12 08:59:29

#6

S.Lythberg: Mastermind; +429|6443|Chicago, IL

Turquoise wrote:
One can only hope.

people are already going on shooting sprees, just imagine what will happen if the guy actually deserves it

2009-03-12 10:22:41

#7

Poseidon: Fudgepack DeQueef; +3,253|6534|Long Island, New York

He'll kill himself or he'll be assassinated.

I'd bet a few bucks on that.

2009-03-12 10:30:24

#8

Mekstizzle: WALKER; +3,611|6617|London, England

Who would risk everything just to kill him? Sure, people will be pissed off, but not enough to go "fuck this, I'm going to go out of my own way and get this bitch killed, because he deserves it" Nobody is going to do that, not in today's world. Unless there are people out there with nothing to lose, yet feel strongly enough about this whole fiasco. Maybe someone who lost everything cos of him, maybe...

2009-03-12 10:37:10

#9

Poseidon: Fudgepack DeQueef; +3,253|6534|Long Island, New York

Mekstizzle wrote:
Who would risk everything just to kill him? Sure, people will be pissed off, but not enough to go "fuck this, I'm going to go out of my own way and get this bitch killed, because he deserves it" Nobody is going to do that, not in today's world. Unless there are people out there with nothing to lose, yet feel strongly enough about this whole fiasco. Maybe someone who lost everything cos of him, maybe...

Someone who lost every penny of their life savings, maybe?

Can't say I'd blame them. Of course, he wears a bulletproof vest, so that would need to be taken into consideration.

2009-03-12 11:16:35

#10

Varegg: Support fanatic :-); +2,206|6806|Nårvei

He risks 150 years in prison

Seriously ... he is not just your average con artist or fraud, he got most of the money from charity funds, normal households and the pension money from senior citizens ... he preyed on the weak but I'm sure some genious will say they are themselves to blame to trust a former chairman of the board of Nasdaq.

What troubles me is that he is seemingly willing to take the blame alone meaning that most of the money have prolly disapeared into the pockets of his wife and other family and his close jewish friends that were the first to invest and later got their money back with interest after Madoff had convinced the public that investing with him was safe ... atleast the news today stated Madoff was not willing to admit to conspiracy thus meaning he's protecting a lot of people that is as bad as him ...

Hopefully and I'm sure more people will get convicted in this case ...

Wait behind the line ..............................................................

2009-03-12 11:42:01

#11

blademaster: I'm moving to Brazil; +2,075|6641

Turquoise wrote:
Hopefully, assassination will happen next.

hahaha yeah or a medieval hanging or being stoned to death

2009-03-12 11:47:19

#12

Ilocano: buuuurrrrrrppppp.......; +341|6663

I'm hoping for "Death by Bongo".

2009-03-12 11:50:29

#13

Lotta_Drool: Spit; +350|6179|Ireland

Turquoise wrote:
Hopefully, assassination will happen next.

Obama is making Madoff look like a saint. Wait until you see the defict numbers for next year's budget and how much Obama has put every American in debt.

2009-03-12 11:59:27

#14

Poseidon: Fudgepack DeQueef; +3,253|6534|Long Island, New York

Varegg wrote:
He risks 150 years in prison

Only because none of the charges he's being brought up on can get technically get you the sentence of "Life in prison".

Lotta_Drool wrote:
Turquoise wrote:
Hopefully, assassination will happen next.
Obama is making Madoff look like a saint. Wait until you see the defict numbers for next year's budget and how much Obama has put every American in debt.

Wait, you care about the deficit now? Where were you the last 8 years?

2009-03-12 12:29:19

#15

Diesel_dyk: Object in mirror will feel larger than it appears; +178|5990|Truthistan

I wish the judge didn't accept his plea of guilty.

The judge should have require a fuller allocution of guilt and required him to cough up where the money was, through whose hands it flowed and who his accomplices are. He may be a genius but he also had help.

Letting him plead guilty and remain silent only hurts the victims. Now the cops will have to folow the paper trail, if this con man used any paper. In the end his entire family will probably in jail.

CNBC keeps joking that they should use water boarding on him to make him talk. Use Guantanimo for crooked CEOs.

Hopefully, he gets to share a cell with a giant hairy bull queer with shankers on his wang. Its about the only way he will ever get as f*cked over as he f*cked over his victims.

Last edited by Diesel_dyk (2009-03-12 12:30:53)

2009-03-12 13:11:27

#16

Turquoise: O Canada; +1,596|6401|North Carolina

Lotta_Drool wrote:
Turquoise wrote:
Hopefully, assassination will happen next.
Obama is making Madoff look like a saint. Wait until you see the defict numbers for next year's budget and how much Obama has put every American in debt.

So you think the government budget is tantamount to a Ponzi scheme?

Don't get me wrong... I don't like this stimulus bill either, but use some logic for once.

2009-03-12 16:32:36

#17

bad-man: now say you sorry; +34|5844|one windy city

whatever the punishment i'm sure everyone will still be disappointed ....and this guy really deserves the worse

2009-03-12 16:37:26

#18

Macbeth: Banned; +2,444|5582

I wish he had pleaded not guilty and started naming everyone who helped him or let him get away with it. That would have been something to watch as he dragged down all of the super rich Wall Street types with him.

2009-03-12 16:39:50

#19

bad-man: now say you sorry; +34|5844|one windy city

Macbeth wrote:
I wish he had pleaded not guilty and started naming everyone who helped him or let him get away with it. That would have been something to watch as he dragged down all of the super rich Wall Street types with him.

maybe thats exactly why he did it, some of his rich buddies would have called a hit on his fat ass if he started singing

2009-03-12 17:07:44

#20

ATG: Banned; +5,233|6525|Global Command

Turquoise wrote:
Lotta_Drool wrote:
Turquoise wrote:
Hopefully, assassination will happen next.
Obama is making Madoff look like a saint. Wait until you see the defict numbers for next year's budget and how much Obama has put every American in debt.
So you think the government budget is tantamount to a Ponzi scheme?

Don't get me wrong... I don't like this stimulus bill either, but use some logic for once.

It is a ponzi scheme. Just like social security, owning a home and paying taxes.

TARP sound familar? Bush was worse than Obama has been so far spit.

As for Madoff, I hope somebody in prison stabs a broomstick so far up his ass it comes out his eye.

2009-03-12 18:01:41

#21

Catbox: forgiveness; +505|6712

He rolled over on a lot of people i imagine... he wanted to make sure his family had money after he went to jail...
what other case have you seen that was started and finished in 3 months... there are a lot of people who cashed out a few years ago
and they sure as heck are laying low...lol... they dont want to have to give back any money if they try and come for it(the investors)

Love is the answer

2009-03-12 18:25:30

#22

Turquoise: O Canada; +1,596|6401|North Carolina

ATG wrote:
Turquoise wrote:
Lotta_Drool wrote:

Obama is making Madoff look like a saint. Wait until you see the defict numbers for next year's budget and how much Obama has put every American in debt.
So you think the government budget is tantamount to a Ponzi scheme?

Don't get me wrong... I don't like this stimulus bill either, but use some logic for once.
It is a ponzi scheme. Just like social security, owning a home and paying taxes.

TARP sound familar? Bush was worse than Obama has been so far spit.

As for Madoff, I hope somebody in prison stabs a broomstick so far up his ass it comes out his eye.

Well, I'll agree that SS is a Ponzi scheme, but TARP is just a waste of money. Still, TARP is at least aimed at doing something good for society, whereas Madoff clearly had no intentions of benefiting anyone other than himself.

2009-03-12 19:07:32

#23

argo4: Stand and Deliver; +86|5929|United States

haha "madoff..made of" hahah geddit???

2009-03-13 00:20:46

#24

Dilbert_X: The X stands for; +1,810|6102|eXtreme to the maX

Madoff will get a five star prison cell with all the conveniences, he's enjoyed a very comfortable life these past however many years.
His wife and children will have billions stashed away safely hidden - they will be OK.

Seems like win-win for the Madoffs TBH - crime does indeed pay and pays very well.

Русский военный корабль, иди на хуй!

2009-03-13 00:35:43

#25

Flecco: iPod is broken.; +1,048|6661|NT, like Mick Dundee

Dilbert_X wrote:
Madoff will get a five star prison cell with all the conveniences, he's enjoyed a very comfortable life these past however many years.
His wife and children will have billions stashed away safely hidden - they will be OK.

Seems like win-win for the Madoffs TBH - crime does indeed pay and pays very well.

Possible house arrest as a sentence?

Whoa... Can't believe these forums are still kicking.

BF2S Forums Madoff pleads guilty

Turquoise wrote:

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Mekstizzle wrote:

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Varegg wrote:

Lotta_Drool wrote:

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Lotta_Drool wrote:

Turquoise wrote:

Macbeth wrote:

Turquoise wrote:

Lotta_Drool wrote:

Turquoise wrote:

ATG wrote:

Turquoise wrote:

Lotta_Drool wrote:

Dilbert_X wrote:

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