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Courtroom sketch of Madoff being led away in handcuffs by Elizabeth Williams/AP
After pleading guilty yesterday to 11 criminal charges related to his $65 billion Ponzi scheme, Madoff's bail—$10 million to remain under (Upper East Side pent)house arrest—was revoked and U.S. District Judge Denny Chin said, "As Mr. Madoff has pled guilty, he is no longer entitled to the presumption of innocence. The exposure is great, 150 years in prison. In light of Mr. Madoff’s age, he has an incentive to flee, he has the means to flee, and thus he presents a risk of flight." Madoff's lawyers believe Chin's decision was wrong and want, according to Bloomberg News, "an expedited ruling and renewed bail under the previous conditions." Arguments will be heard next Thursday.
It's unclear whether Madoff is in general population or in isolation at MCC. However, MCC spokesman Scott Sussman described sample meals: oatmeal and banana for breakfast, baked chicken and collard greens for lunch and spaghetti with meat sauce and spinach for dinner.
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I don't even eat that well and the worst I ever did was find $180 hanging out of an ATM and kept it.
Well, let's keep him healthy so he can cough up more details.
If the spaghetti with meat sauce really upsets him, wait until he gets a taste of anal rape.
I picture Madoff being like that guy in Boogie Nights that ended up in prison, and being berated by his bunkmate for all his remaining years.
I thought about that scene too.
I think he should be limited to tossed salads and tube steaks.
Oh Please!!! Due to the financial meltdown, I'm already on that diet already! Geesh!! I have no pity for him!!!
It's real easy, set the bail at $20BIL (presumably the actual amount of money he took from investors).
Amen to that jibbly.
The judge is right, he plead guilty, he's going to jail no matter what. What's the point of asking for bail so that he can go to jail in June instead of right away? He's had time to straighten out his affairs.
I wonder if this is just his lawyers trying to run up the tab a little bit. They're missing out on the fat fees a trial would have generated.
A lawyer trying to run up a tab? That would be unethical.
What happens if he doesn't finish all his spinach? No cookie and milk before bedtime?
Well someone should remind Madoff, these meals are on us the taxpayers...and we have absolutely no problem picking up the tab up for him.
His wife and sons should join him for dinner. It's only fair. They worked hard alongside Bernie and they deserve it.
Only 24 hours and I bet he's in the glory hole at Rikers. I dunno, though, if I were a lower-class inmate who never had more than a couple Gs to his name, I'd kinda look up to the old fuck for ripping off so many greedy well-to-dos.
Why would anyone think he is going to a hardened prision? He'll be at worse going to a Martha Stewart-type prison.
And I seriously don't understand why anyone would think prison time is going to make Madoff a good person.
He won't, because he faces up to 150 years in prison. Those "Club Fed" type prisons are limited to those white collar criminals serving less time, like Martha Stewart.
Required reading for the band wagon:
Madoff Had Accomplices: His Victims
Only the willfully ignorant could have seen Bernard Madoff’s fund as a good investment....
http://www.nytimes.com/2009/03/14/business/14nocera.html
i see they are worried about him being a flight risk etc, but you guys know all he wants to do is shoot himself and that's too easy...Put him on suicide watch...Killing yourself is too easy....Feel the pain that your victims felt....i won't jump for joy for his outcome, do madoff like he did you and take his money!...Peace!....
Why does anyone think he feels pain for hundreds of thousands of people he only knew mostly by their account number?
He should eat cockroaches like Renfield in Bram Stoker's Dracula.
Literally, I LOLd at that! (But wasn't it spiders?)
Either way, great image.
I suspect that all hedge funds are fake. I understand that they don't have to show where or how the money is invested, so there is zero transparency. I hope not, but it seems so possible that this is just the tip of the beginning. The Dow could go down to 3900 before all of the Ponzi schemers are rounded up.