So Madoff has submitted his plea, will be sent to jail immediately and sentenced on the 16th of June, and everyone on television keeps saying some variation of the following:
“Madoff faces a 150 year sentence, which, for a 70 year old man, is effectively a life sentence.”
Considering life expectancy is somewhere in the 70’s, isn’t 150 years in jail a life sentence for anyone, not just a seventy year old?
Also, isn’t the more important aspect of the Madoff case the number of people involved in the conspiracy? This wasn’t just one guy. There were all the pople in his office, all the people he did business with, all the bankers who held the funds and got their cut for every transaction, the accountants who didn’t notice anything. When does that get discussed and investigated.
Or do we send Madoff off to jail, pay out the victims though the
government insurance fund (my bad, SIPC is not government), and just pretend it was one guy who did all this?