Bernard Madoff steals 50 billion,should he get bail ?
By ronnyb
@ronnyb (6113)
Jamaica
January 11, 2009 9:36am CST
Bernard Madoff was an investment agent that lured many persons to invest over 5o billion billions of dollars in his investment company .An investment company that claimed to have investments all over the globe but turned out to be one big ponzi scheme ,that is using new investments to pay old investors .Needless to say the scheme has now crashed and it has left many wealthy persons now contemplating bread and butter issues and poorer ones contemplating survival. He was subsequently arrested as news broke of the investment scam
He has actually gotten bail already but should he be on bail. I mean this is a man that has managed to rip off investors billions of dollars .Some of these investors are wealthy actors ,banks and charitable organizations. Some of them are persons who have invested their life saving into what they think was a reputable investment that didn’t pay over the top returns and now many are broke. The scam run by Bernie spans several continents and countries from America, to Australia ,France even Switzerland.
Now my question is would the judge be as lenient with a street boy who robbed Madoff two thousand dollars. I am thinking that this kid would probably be locked away so far he would be forgotten, I maybe wrong but I stand corrected if I am. I thought that before they granted bail they made about three consideration:
Is this person a flight risk
Will this person pervert the course of justice
Will his presence be a risk to himself and others.
I think if all those issues were considered Madoff should be turned down. Firstly it wouldn’t be hard for Madoff to slip on a private jet and go to a country where there is no extradition .He may even be able to continue his practice under a different name. Or if he so desires he may go via a his expensive yatch.
Secondly this is a man with a lot of money and he can use this money to bribe prospective court official or would be witnesses .He has already started to send off expensive gifts to his friends in an effort to hide some of his money.
Finally I am sure there are many persons who would want to get their hands on him and members of his family. I think though that he is being guarded.
I think one of the things that make this case so brutal is that Madoff was a very rich man and didn’t need to invest in this ponzi scheme .He would have made millions of dollars legitimately because his name carried a lot of clout on wall street. Yet he was able to create a brand that lured many persons to their eventual demise .And this has further infuriated many persons who advocate that he shouldn’t be on bail
What do you think about this situation. Should Madoff be given bail or locked so far away that he never sees daylight again in his life ?Pleas state your reasons for your answers.
1 person likes this
6 responses
@LadyMarissa (12148)
• United States
11 Jan 09
I feel Madoff should be locked UNDER the jail house & the key thrown in the ocean!!! He is a thief. He is no better than a bank robber. If I had taken $5.00 from him, I'd still be in jail awaiting trial. I resent the fact that MY tax dollar is being used to protect a common criminal. Yes, he's rich, but he's still a common criminal...NO better than most rotting in prison. If an average man loses his job & has 6 mouths to feed, then his money runs out & he robs a bank to get the money to feed his children he'll spend years in prison. With the education Madoff had & the money he had already earned, he was just being GREEDY!!!I feel you are correct in your assumption that he is a flight risk. Where the broke father would only be able to run for 1 maybe 2 states, Madoff can disappear half way around the world with NO problem. He's intelligent enough to choose a country that won't extradite him back here. With all the valuables he tried to mail to friends & family, I feel he has shown himself even more UNtrustworthy!!! He didn't get any of my money, yet I resent the preferential treatment he is receiving. I feel that this is just one more case of our tax dollar being totally wasted. When he finally does go to court, I hope his judge & ALL the jury had invested their money with him. Even with that he will just get a slap on the wrist.
@ronnyb (6113)
• Jamaica
11 Jan 09
Couldnt have said it better myself he is a greedy man and thats just makes his crime so much worse.Like you said I could understand with a man who has extenuating circumstances but not a man with a good education and who has made millions already
Even more annoying though is the obvious double standard and bending of rules that exists for him because he has money.I am just so sorry for the persons who innocently got caught in this mess.
Thanks fo responding.
@snowcat46 (2322)
• United States
11 Jan 09
He should never have been given bail. The man cost thousands of people their jobs, in a time when jobs are scarce. He brought down entire companies, some devoted to helping people. He stole from the poor to get richer. He should have had all his holdings taken away to make restitution to those people and companies he cheated. A thief who willingly throws charities and people down the drain deserves nothing but contempt.
This is a man with no scruples. Instead of being treated like the criminal he is, he gets to go home to his super expensive apartment, with all his luxuries. They basically gave him a free pass to live large, keep giving away all the money he stole. While people are going hungry, he profits from taking from them. The man deserves to live in a freezing cold jail cell, with a "friendly" (if you get what I mean) giant named Bubba who really LIKES Mr. Madoff. That's the best he deserves.
1 person likes this
@ronnyb (6113)
• Jamaica
11 Jan 09
I totally agree with you especially when you consider all the charities he has robbed and the amount of persons who invested their live saving with him.I hope he will get achance to me Bubba eventually but something tells me that day may never come.It seems that so called white collar criminals rarely get to do hard time like that.I hope I am wroong and he is the exception.
Thank you for your response
@suruchi86 (1872)
• India
12 Jan 09
No, he should not be granted the bail. Just think of poor investors and for the sake uninfluenced proceedings in the case.
@ANTIQUELADY (36440)
• United States
11 Jan 09
no, he shouldn't be allowed bail. he should have been in jail along w/the other crimals to start witn not some posh hotel.hanging him mighrt do away w/all the problems w/him.



