 The Wild Wild World of Wealth |  |
Judge Denny Chin sentenced Bernie Madoff to 150 years today. But the BM story is far from over. The next chapter will examine the Securities Investor Protection Corporation (SIPC). And there’s one question for every American?
How can we tolerate the conflicts of interest between SIPC and court-appointed trustees?
Acrimoney has given further thought to Madoff’s request for leniency. Ira Sorkin, Madoff’s defense attorney, argued for a twelve-year prison sentence. He referenced Madoff’s life expectancy of thirteen years as justification.
Ira Sorkin, defense attorney for Bernard Madoff, requested his client’s sentence be limited to twelve years. He cited Madoff’s age and thirteen-year life expectancy. He noted the crime was non-violent. And he added that Madoff surrendered voluntarily.
Sorkin asked the judge to avoid “mob vengeance.” In an online report, CNN Money described his legal position by writing, Madoff says 12 years is plenty. We at Acrimoney can’t help but wonder:
Do twelve years constitute justice for Bernard Madoff?
Publishers Weekly just released a nice review of Top Producer, my debut novel. We’re all pretty excited over here at Acrimoney. You might be interested in reading PW’s thoughts about what’s inside.
We at Acrimoney love financial fiction. Oh, but wait. Today’s story isn’t fiction.
There’s been an important development in the fight against financial fraud. Today, The Wall Street Journal broke a story with broad implications. The Securities and Exchange Commission barred Bernard Madoff from the securities business.
We all feel safer, right?
Yeah, right.
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