Live From New York
Madoff Madness
A word about reactions to the unspeakable Bernard Madoff.
There is nobody this side of a lunatic asylum that could have a kind word or thought about Bernard Madoff. He has indiscriminately destroyed the remainder of many people’s lives, made wastes of the earlier parts of their lives wherein they worked and saved for a financially secure old age that will now never happen, and ruined many of the proud unique hallmarks of our American civilization: our communal efforts to help the lives of others by supporting and sustaining vast numbers of organized charities. To be fair, he has also hurt people who sacrificed caution on the altar of their own greed. Bill Clinton said, “If something looks too good to be true, it usually is.”
Newspapers have run headlines like “Burn in Hell” and people publicly compete with each other to suggest punishments, each one more barbarous than the other.
Presently, Madoff is confined to a small cell under conditions that, compared to those the terrorists imprisoned at Guantanamo Bay enjoy, should make those terrorists think that they have arrived at the Pearly Gates, or wherever it is they believe to be their last deserved resting place. Madoff is even denied the right to read, and since this presumably includes the Bible, denies him the right to religious conversion — a state of grace for which my fellow co-religionists and I wish would occur as soon as possible.
It is easy, in a society founded on the Judeo-Christian principles of compassion, redemption, and forgiveness, to extend these virtues to socially acceptable and attractive individuals. It is much harder to do so with parasitic lice like the Madoffs of the world. To hold out a hand to a hungry child is commendable, self-satisfying, and comfortable. However, to treat Madoff not with mercy, but in a way that allows him to undermine the better angels of our nature, does more to harm us as human beings than he could ever do, and in the last analysis, makes him and others like him, the winners.
Letter to the Editor View all comments (23) | Leave a comment
Related Articles
More Articles by Jackie Mason
More Articles by Raoul Felder
More Articles From Live From New York
http://spectator.org/archives/2009/11/17/madoff-madness
Follow us:
ADVERTISEMENT
Current Issue
- Gabby Giffords Poisons the Well
- The Continuing Crisis
- How Not To Buy a Fighter
The Spectacle Blog
Democrat Dan Maffei Blames Budget Cuts for Girl’s Rape, Mother’s Murder
Robert Stacy McCain | 4:12PM
SPONSORED LINKS
FLASHBACK TO: 1995
-
Pope Culture
A man of faith in a godless age is hitting Americans where it hurts.
-
Why the GOP Does Not, Like, Totally Suck
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
-
Dames at Sea
-
In the Absence of Guns
In Britain, defending your property can get you life.
-
The Metaphysical Martini
-
Counting the Costs of Clintonism
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
-
Chuck McHagel
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
-
The Legacy of Old John and Mother Fresh-Roasted
-
It’s the Best Time of the Year
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
-
The Bush Crack-Up
Was the President done in by the economy, or by the politics of the economy?
Clip of the Day
ADVERTISEMENT
Appleby| 11.17.09 @ 6:53AM
What is the purpose of denying the man a Bible? For those who grew up after the teaching of history became a Blamestorm, the reason prisons used to be called penitentaries is that the only reading material the inmates were given was the Bible, presumably so that they could read and then discuss with the prison chaplain the way to repentance, before being hanged.
Of course these days the prison chaplain is likely to be trying to recruit them to fly airplanes into tall buildings, but at least the Bible should be tendered to anyone who is likely to spend the next 115 years in durance vile. Much as we might hope that Madoff ends up in Hell for his sins, we have the example of the Penitent thief on the cross whom Jesus welcomed into paradise to remind us that with God all things are possible.
Eric A| 11.17.09 @ 8:12AM
He destroyed retirement savings? Wrecked the capacity to give to charity? Condemned countless people to impoverished old age?
For a moment I thought you were writing about the continuing Social Security pyramid scam and deficit bomb pushed by the Obamacrats.
At least the Madoff victims had a chance to say no. Young Americans are being pushed into financial slavery by government force.
Obamacrats are far from apologizing for their financial crime which is, in the literal accounting sense, hundreds of times worse than Madoff's crime. In fact they continue to preen as morally and intellectually superior and are infuriated when the Sarah Palins of the world arise from the proles to question their right to rule the masses.
Let us pray that we not hate them, and that they get the chance to repent of their crimes.
chaynes| 11.17.09 @ 9:01AM
Perhaps I should be in that lunatic asylum, because I have that kind word about Bernard Madoff.
Madoff has publicly repented, accepted his punishment as fair. That means a lot in a world where everyone tries to beat the rap. He demonstrated his sincerity by pealding guilty, when he could have remained comfortably free on bail, pleading the fifth, for a few years.
In interviews he has stated how his years of stealing were hell and that he wished he had been caught sooner. It is refreshing it is to have someone who doesnt gloat over his sucess, or mock his victims, or whine that he wasnt doing anything wrong.
And it should be pointed out to those who condemn him so mercilessly, that all he did was steal, a sin against the 7th of the 10 Commandments, which are listed in order of severity.
Indeed, if it is true that he is denied a bible, we should today condemn his jailers instead of Madoff.
He ha
chaynes| 11.17.09 @ 9:08AM
Please forgive the He ha at the end of the above. It is a typographic error, the leftovers of a sentence that I had deleted, not mock laughter.
Madoff Victim | 11.17.09 @ 9:17AM
The Truth of the Matter
The auctions brought in more money than originally expected. The penthouse sold for a pretty penny. The yachts have floated in a few additional millions to be added to the Madoff pot.
So, the investors will soon reap the benefits of all this transference of money, right? WRONG.
Thanks to the secure financial situation of SIPC trustee Irving Picard, his PR firm has been successful in keeping its client’s actions in the news. However, like any well paid employee-the firm’s loyalty lies with the trustee and thus may be instructed to tell the public their version of reality.
Let me explain...The news feeds report that the money collected from the above sales will go directly to the investors. This is a very simplistic description that eliminates describing the fact as to how these funds will actually be distributed and to whom.
SIPC was created by Congress to instill investor confidence in the financial markets after the 60’s, when American’s were afraid to invest due to rampant fraud in the markets. Congress’ intent was to create SIPC so they would be able to pay investors an advance of money collected from fraudulent brokers while the bankruptcy proceedings were underway. This, to ensure that innocent investors would be able to survive financially while waiting for their funds to be recovered. So, if it’s decided that an investor is not entitled to that advance, than they would not be entitled to the money recovered through the bankruptcy.
Irving Picard, as trustee assigned by SIPC to the Madoff fraud, has decided that he will disallow more than half of the investors’ claims due to his unsupported interpretation of the SIPC rules. He has decided (contrary to past history of how SIPC pays investors) that the money they were told (by the SEC, FINRA, the IRS and SIPC) they had really didn’t exist. However, that is EXACTLY the purpose of SIPC-to ensure investors that if they invested with a fraudulent broker they would be able to recover the monies they were told they had in their accounts. This money, by the way, comes from the other (legitimate) brokers who are members of SIPC-not the US taxpayers, or any government agency.
So, when you read that the money collected at auctions, at liquidation sales and from co-conspirators in the Madoff case goes to the victims, please be aware that this not truly the case-only those victims that Mr. Picard decides are eligible for SIPC coverage will benefit. The thousands of others who believed in Congress’ effort to protect the investor will get nothing.
This, we fear, may hold true for all American investors who feel they are protected in their investments.
- Madoff Coalition for Investor Protection
bernardmadoffvictims.org
...
Indiana Alex| 11.17.09 @ 9:29AM
Good luck.
I know there is precident for paying back essentially phantom gains, but it seems in this case Captain Picard (wonderful person isn't he) has determined that this case may be too big to follow that precident.
One would think this would be a relatively clear case, but in this day and age the Government seems to be able to do whatever it pleases.
I liked it better when it was doing it to other countries.
Tim| 11.17.09 @ 9:48AM
Matthew 5:43-48 (New International Version)
Love for Enemies
"You have heard that it was said, 'Love your neighbor[a] and hate your enemy.' But I tell you: Love your enemies[b] and pray for those who persecute you, that you may be sons of your Father in heaven. He causes his sun to rise on the evil and the good, and sends rain on the righteous and the unrighteous. If you love those who love you, what reward will you get? Are not even the tax collectors doing that? And if you greet only your brothers, what are you doing more than others? Do not even pagans do that? Be perfect, therefore, as your heavenly Father is perfect.
http://www.biblegateway.com/pa.....ch=matthew 5:43-48&version=NIV
Anthony| 11.17.09 @ 9:55AM
One wonders if Obama, Clinton and Holder are concerned about what the world community thinks of our treatment of Madoff.
PacRim Jim | 11.17.09 @ 11:38AM
Say what you will about the rich and powerful. Take their money, though, at your own peril.
free realms coins | 11.20.09 @ 8:24AM
Please forgive the He ha at the end of the above. It is a typographic error, the leftovers of a sentence that I had deleted, not mock laughter.
fallen earth chips | 11.20.09 @ 8:57AM
Please forgive the He ha at the end of the above. It is a typographic error, the leftovers of a sentence that I had deleted, not mock laughter.
Pingback| 1.20.10 @ 10:41PM
Bear Stearns Madoff – YouTube – The Madoff Money Trail – Bloomberg links to this page. Here’s an excerpt:
www.us-bapeoutlet.com | 4.3.10 @ 9:47PM
www.us-bapeoutlet.com
lay123 | 4.4.10 @ 1:06AM
Specific ingredients: clothing, accessories, and shoes, but most recently handbags have
become a cornerstone to the aura that is mainstream fashion www.handbagshunting.com
Pingback| 4.21.10 @ 6:32AM
Bear Stearns Madoff – YouTube – The Madoff Money Trail – Bloomberg links to this page. Here’s an excerpt: