During such turbulent economic times, when heavy hitters in the banking industry continue to be under siege, the sentence was a reminder that justice is at work. But while the news of his demise seemed appropriate - a maximum 150 years in prison, a forfeiture of $171 billion - it's a fraction compared to what many of his victims face.
Countless citizens, banks, foundations and firms around the world invested in a man who simply used the funds as his own personal checking account, and the sheer range of individuals affected by this tragedy is staggering.
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Madoff's apology to his victims was pathetic, not by what he said but what he didn't express. His actual court statement, displayed in full by the New York Times, met expectations, but his apparent tone - monotonous, mechanical - made it meaningless and insulting.
By pitting the ruin of thousands of people as "an error of judgment," a failure he could not accept, is appalling. That term is more aptly applied to drunk driving and bad relationships, not to a form of deception that ruined hundreds of lives and lost billions of dollars.
Madoff said he'll shoulder the burden of misery he's caused for the rest of his life, but jail will shelter him from their fury. A more satisfactory scenario would allow some of the hardest-hit citizens to visit Madoff every day until his death, which would more accurately fit the phrase "live with this pain, with this torment for the rest of my life."
JENNIFER JOHNSON can be reached at jenj@wahpetondailynews.com.
nvi8 wrote on Jul 4, 2009 6:36 AM: