Wednesday, July 01, 2009

Madoff: another perspective...

... that's precisely the same as mine.
From everything I've read on the subject, his client base incorporated all strata of society. The mega rich. The super rich. The very rich. And the good old-fashioned just plain rich.

So I can't really empathise with Madoff's client list of distraught millionaires, multi-millionaires and billionaires. Anyone in that league should be smart enough to know that you don't put all your financial eggs in one basket. Hell, I'm no Wall Street wizard - but even I've heard of the old saying 'if it looks to good to be true, it probably is.'

Well, quite. And the thing that absolutely gripped my shit was the judge—who, judging by the way that he played to the gallery on this, obviously fancies being a Hollywood star—described Madoff's crimes as "extraordinarily evil".

What. The. Fuck?

I think that I shall let Juliette explain why that is such a fucking stupid thing to say...
Furthermore, anyone who says Madoff''s pure evil and deserves his absurd 150-year sentence frankly needs to get a grip.

Because there's no shortage of real pure evil in this world of ours.

Here's an obscure story to think about. This is pure evil. Not a single person involved got more than eight years.

Here's a rather less obscure story to think about. This is also pure evil. And everyone involved could be out in ten years.

If you genuinely believe that ripping off some spoilt, rich, greedy fuckers who should have known a hell of a lot better is more evil than torturing a five-year-old child to death, you seriously need to sort out your fucking priorities.

But it's awfully reassuring that Madoff's down for the full 150 years, and he'll never be free in his lifetime. Because, let's face it, this man is one hell of a scary figure. And now, when you're next in bed on your own and hear shattering glass downstairs, you can rest assured that - whoever just broke your kitchen window—it's not a frail 71-year-old con merchant with too many houses.

If you're lucky, maybe it'll just be these guys.

I couldn't have put it better myself.

Don't get me wrong: what Madoff did was bad, but "extraordinarily evil"? Fuck off, Judge Denny Chin: fuck off to Hollywood and get yourself a part in a fucking shit melodrama, you twat.

Or, at the very least, why don't you go out and buy yourself a Fucking Sense of Proportion? Apparently they are giving them away absolutely free when you buy yourself a Fucking Cluebat...


Lee said...

"buy yourself a Fucking Cluebat"...

I will use this in a conversation tomorrow

Anonymous said...

There is fairly widespread belief that Madoff's children, who were employed by his firm, had to have been part of the fraud, and yet Madoff did not implicate them during his trial. Maybe there will be some sort of offer to reduce his sentence if he helps to prosecute others, but since even with a reduced sentence he is unlikely to live long enough to get a parole, he will probably die in prison and take his secrets with him.

Simon Fawthrop said...

The whole point about people like Madoff and hedge funds in general (he wasn't one) was that they serviced informed investors and therefore didn't need heavy weight regulating.

Its hard to see how a regulator could have done any better than, say Superwoman Nicola Horlicks, when it came to due diligence.

Henry North London 2.0 said...

Ah the fucking cluebat

For people who are new to the Devil a cluebat definition is below

as an individual so completely in the grip of self-deception as to be completely incapable of recognising a cogent and rational argument, even if one were to engrave such an argument into a baseball bat and use the bat to emboss it onto his/her forehead.

North Northwester said...

Aren't we Tories and you libs supposed to be money-grubbing parasites who know the price of everything and the value of nothing [don't get me started on how EXACTLY wrong that cliche is!]?

And yet America's liberal courts sentence a thief to almost twice the biblical age of a man for stealing a lot of money while ours make some mass rapists and child murderers will miss the opportunity of attending fewer than three Olympic opening ceremonies.

You'd almost think it's the State that had problems working out the value of human life, and not us capitalist exploiters.

"buy yourself a Fucking Cluebat" -
My techie friends call them 'larts';
luser attitude realignment tools.

John B said...

Cluebat deployment: *no* sentences were handed out to Baby P's murderers, because - under the common law definition of murder which has served us well for hundreds of years - nobody murdered Baby P.

(indeed, the only way Baby P's abusers were able to get serious jail time at all for their abuse of him was because of laws brought in by the current government that allow people to be convicted of 'allowing or causing' the death of a child - although on balance they're probably necessary, they're a couple of steps down an uncomfortable no-right-to-silence, self-incrimination route)

Mark M said...

Financial restrictions on Madoff for the rest of his probably short life? Yes.

150-year prison sentence? Err, why? Is he a danger to society? No. He's just a fraudster who, if left free, would have had to hide in the shadows for the rest of his life. This man doesn't need to be put in prison. Our prisons are overcrowded with non-violent 'criminals' whose only crime is benefitting from the gullibility of others.

Stick an electric tag on him and let it be done. He's not going to harm anyone if he's not put behind bars. I our society we've lost all proportion of who needs to go to prison.

Joe Shmo said...

Granted most of the people who invested with him were greedy sunsofbitches however loads of funds poured millions of their clients money into the scam resulting in ordinary people (who thought they were buying balanced funds of bonds and stocks) losing loads.

Anonymous said...

woke up !! read in the aarp mag sept/oct 2009issue.. investor ripped off by madoff... is reimbursed moneys from u.s. government.... now my patience is non existent. !, who is the victim here? besides my high school english teacher ha! all kiddin aside maybe i'm confused but i see that i am the victim

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