Is this one of those things where he will eventually be able to appeal it down to like 8 years plus time served?

I expect his head in a jar to appear on the new 'Futurama'

Is he eligible for parole or early release? I really don't want this guy to ever get out. He didn't technically kill anyone, but his actions pushed a few to kill themselves. The scope of massive damage he did to people's financial lives is staggering. You really only have one portion of your life to earn money. If someone had that savings all taken away later in life they are going to be hard pressed to regain that wealth.

Madoff's actions are a major threat to society since so much of our society is built on the power of money even in the small scale of being able to live with some shred of dignity.

@dragonfire81:

Nope. This isn't in L.A.

Haha so much of the 12/13 years he wanted

YAY keep his ass in prison

I wonder how long it will take him before he's running scams on the prisoners in jail...

"If you invest those cigarettes with me at 15%, in no time, you'll be earning more free smokes than you know what to do with! Trust me!"

I understand the gravity of what he did, and the damage Maddoff caused to people. What I don't understand is why men (primarily) get massive sentences for what is called white collar crimes, when people who kill their small children get away with terms of 10 years or less sometimes. Sometimes I wonder about our judicial system.

I hope that medical science ensures that he does every day of this sentence.He is kind of an avatar for the whole rotten Wall Street structure of this point in history. That said...

A LOT of his victims could have asked themselves how this guy could be up in down markets and up more in up markets without being able to explain how he "invested" their money.This is just not logical.When I have a couple of million on the line and that is the sum of my wealth , you better believe that no one person gets all of it , and if they say "trust me" , I'm outta there.

I hope that his cellmate has a "thing" for balding old guys.

@NotChoinski: +1

best. idea. ever.

He's been watching Shawshank Redemption and crying at the end when he realizes that he's not actually innocent and deserves no boat on a beach.

@bohemian: In the federal system, he will have to serve 85% of his sentence.

@blueneon:Most of the women who kill their children do so because they are suffering from some psychological problems. While this does not accuse their behavior it does mitigate their culpability and knowledge of their acts is more punishment than anything the courts could hand out. A long sentence would serve no purpose.

In the case of finical fraud a long sentence is a warning to every other would be schemer. This does serve societies purposes by preventing future crimes.

I think he should be caned-often.

He isn't sorry. If he were, he'd fully disclose all parties involved in this scam in an attempt to make things as right as possible. It's apparent that isn't happening. Like I said, he isn't sorry. Let him hang.

He isn't sorry. If he were, he would disclose all parties involved in this scam in an effort to return as much money as possible to the investors. However, that isn't happening. Like I said, he isn't sorry. Let him hang.

So wait. I'm sure that he'll be eligible for parole soon and since this isn't a violent crime perhaps it would be better to fine him and put him to work instead of having him sit in jail for the rest of his life.

@bohemian: Not to mention that, he will end up costing the government money too, since people will be able to write off their losses. That means he was indirectly stealing from all of us, not just his "investors".

Is it just me, or did he receive justice VERY swiftly? He was exposed in December, and less than a year later, he's convicted and sentenced.

I'm not complaining, but I always thought the justice system moved a lot more slowly. Or do the wealthy get bumped to the head of the line, too?

@NotChoinski: I would love this! Worth $65 billion.

@bohemian:

"...under current rules in federal court, a person must serve at least 80 percent of a sentence - 120 years - prior to being eligible for parole. That would mean Madoff would have to live until he was 191 years old before being eligible for parole."

[cnnwire.blogs.cnn.com]

@dave_coder:

He wont be eligible for parole until he is 191.

[cnnwire.blogs.cnn.com]

@pollyannacowgirl: Uh, he pleaded guilty. No trial.

@pollyannacowgirl: I think federal criminal court often takes less time. Remember how fast Tim McVeigh went from arrest to execution?

@Righteous: Damn it! Now I'm being scammed by this damn computer and network. My first post never appeared and then poof! there it is.

All he needs to do is find 10 people willing to serve a year each in his place, and if each of those 10 find another ten each...

@Scrutinizer: didn't the supreme court recently rule against sentencing based on sending a message to others?

"I'm not actually sorry, otherwise I never would've stolen all of your money and ruined your lives. It's completely devoid of meaning to even say it at this point, so I think I can actually say it without making Satan cry. I will turn and face you. I am sorry. I know that doesn't help you."

I'm just thrilled that the judge practically spat on his request for what, like, ten years? That's awesome. I just hope he doesn't get it reduced or get parole.

Nothing says "I'm sorry" like 20 years of swindling and then hiding the money so it can't be given back to the people it was stolen from.

@wgrune: It's too bad that he'll die LONG before serving any appreciable amount of his sentence. He's physically incapable of serving his time.

Let him die in prison.

Then bronze his shriveled carcass and set him up on Wall Street as a warning to others.

@blueneon: His crime was perpetrated over the course of 20 years. So, maybe we're comparing one count of murder (which as you said might be ~10 years), to dozens of counts of fraud, which each carry 4-6 years and must be served consecutively?

The article doesn't seem to have any details about the reasoning behind his sentencing, besides that it is meant to act as a deterrent.

@blueneon: as far as i'm concerned, there are no white collar crimes. this man is a thief. throw him away. he's of no use to society any more.

@sir_eccles: rofl!

Good. Rot.

I can't escape the sneaking suspicion that for every Ken Lay/Bernie Madoff etc. wealthy person who gets made an example of for the satisfaction of the masses, there are dozens more who operate above the law. Hope I'm wrong.

@Elcheecho: WHAT???? Isn't the purpose of sentencing to deter others from committing the same offense?

Good. I just hope he doesn't serve his 150 years in a country club.

@pollyannacowgirl: In addition to the other reasons listed above, his whole goal now is to have the rest of his family avoid prosecution/public exposure. He knows he's going down, so the faster they dump him in a hole and cnn forgets about him, the less inquiry there will be about how his sons made 3-4 mil a year and had "no idea" that anything was amiss.

Should be nice if it REALLY was 150 years. I bet this scumbag will be let out in 12 years for good behavior or pity for getting old behind bars. We need truth in sentencing. If they sentence him for 150 years, he should be there until he dies.

I was feeling bad for the "victims" at first, but not so much now because they were greedy too.

the judge mentioned that no one - not "friends, family or other supporters had submitted any letters on Mr. Madoff's behalf, attesting to the strength of his character or good deeds he had done."

Damn!

Well that says it all, doesn't it?

@jc364: Why didn't he disclose where the money is/went? You'd think if he actually wanted to get out of jail before he died he'd give up the info. It's not like he could spend it all himself.

Now they're just seizing everything they can get from him and his wife. I guess that explains why she didn't testify on his behalf.

is his wife still living it up with the money from those scamvestments?

Sorry I can't feel the pain for those folks who got screwed by this guy. I wish I had the money to have been a target for him then maybe I could feel their pain...

...hey, but, maybe I can get the money to be a target if Prince Farkuintbut needs help getting his money out of Africa!

@Snarkysnake: don't forget this guy was one of the founders and chairmen of the NASDAQ. normally you shouldn't trust anyone with your money whole heartedly, this guy had the credentials, and knew his clients personally. it'd be like trusting your family reunion video with Steven Spielberg, so you can't really blame them

@EdnaLegume: She lost a lot, and is left with only $3 million. It will be hard, but she is standing strong.

@GreatWhiteNorth:

Not every victim was as wealth as Steven Spielberg. Madoff didn't require a huge minimum investment. Some people had $100,000 or less (their life savings) invested with him and lost it all. Some people will do just fine losing that money but several have lost everything. You really should follow the story a bit more before making dumbass comments.

@NotChoinski: THIS

So.. this leaves me wondering..when will Greenspan, Bernanke, and all the other Federal Ponzi schemers be sent to prison?

Madoff scams billions, but the federal reserve is allowed to have a Ponzi scheme operating in the trillions?