The Cellar

The Cellar (http://cellar.org/index.php)
-   Current Events (http://cellar.org/forumdisplay.php?f=4)
-   -   Any comments about Mr Madoff? (http://cellar.org/showthread.php?t=18995)

glatt 03-11-2009 10:46 AM

Quote:

Originally Posted by sugarpop (Post 544045)
Well my take is, since he didn't make a deal, they are not protected.

Yes and no. While it's true that there is no official protection from the government now, any deal he would have made would have required him to divulge information about the entire scam and would likely have implicated his family. So making a deal for a lighter sentence would have hurt his family more than pleading guilty and shutting his mouth. He is protecting the family from the government as best he can by staying quiet. They are more protected this way.

sugarpop 03-11-2009 06:20 PM

I suppose time will tell. If he had a made a deal, he might have been able to get them immunity. But then again, maybe not. IF they are guilty, I hope they go down as well. Too many people and organizations were hurt by his actions.

classicman 03-12-2009 01:18 PM

Billionaire Stanford to take the 5th in fraud case

Quote:

DALLAS – Texas billionaire R. Allen Stanford and one of his top officials have asserted their Fifth Amendment right against self-incrimination in the federal government's fraud case against them and Stanford's companies, according to court documents filed Wednesday.

Stanford said he will "decline to testify, provide an accounting or produce any documents" related to the Securities and Exchange Commission's civil case, which accuses him of running a "massive Ponzi scheme."

Finance chief James M. Davis, using similar language, also asserted his right not to incriminate himself.
Anyone for waterboarding?

Pie 03-12-2009 01:32 PM

No.

Shawnee123 03-12-2009 01:32 PM

Yeah, I have a comment. He's been wearing a bullet-proof vest going to court, because so many people are so angry, but his big giant pasty head is hanging out there like a beacon. Why don't people ever get bullet-proof ski masks or something?

Pico and ME 03-12-2009 01:33 PM

lol.

classicman 03-12-2009 02:53 PM

Should I have put a smilie on that Pie?

Pie 03-12-2009 03:04 PM

No. It's still a little too close to the bone for me to take it as a joke.
But to quote you -- "Hey, my views aren't popular, they're just mine."

classicman 03-12-2009 03:38 PM

Well it was intended as a joke.

Clodfobble 03-12-2009 06:16 PM

Quote:

Originally Posted by classicman
I too hope they investigate AND prosecute all of them. Perhaps seize their assets as well and put it towards those who were wronged.

Quote:

Originally Posted by classicman
I agree glatt, I think he is trying to protect his family and whomever. Sickens me that he is basically gonna get away with it.

But... but...

Quote:

Originally Posted by glatt
Hypothetically speaking, if Madoff's kids weren't involved with defrauding billions from investors, but they clearly benefited financially, are they guilty of anything?

Quote:

Originally Posted by classicman
No

Quote:

Originally Posted by glatt
What if they don't return the money once they find out about the fraud? Are they guilty then?

Quote:

Originally Posted by classicman
No

WTF? Please explain.

classicman 03-12-2009 06:23 PM

Try this

Clodfobble 03-12-2009 06:35 PM

Quote:

Originally Posted by classicman
Guilt to me acknowledges some culpability and/or responsibility. As the questions were worded, I had to answer them the way I did. I have no control over another person.

There is a difference between guilt or remorse and empathy. If someone was wronged by my great grandfather, for example, thats on him not me. What could I have done about it? I wasn't there I wasn't born yet. I feel no responsibility for the actions of someone else, what difference does it make if they were/are a distant relative or a complete stranger? If my cousin kills someone, should I go to jail?

Just making sure I understand... So your desire to see his wife/children prosecuted stems entirely from the hypothesis that they are also guilty? And their guilt rests entirely on whether they *knew* Madoff was doing illegal things, not necessarily participating in the business? And then based on that, you would support confiscating "their assets as well" (say, his wife's salary from some unrelated job) because they are guilty to begin with so their punishment can be in any form?

So if I steal a million dollars, and just walk up and give it to a stranger on the street, that stranger doesn't have to return it?

classicman 03-12-2009 09:20 PM

If someone was knowingly doing something illegal, yes. Otherwise, wouldn't we have to punish everyone who worked there? As far as confiscating the wife's salary from another job or other unrelated sources.... I dunno how to figure all that out. Thats a little beyond me. I guess if we could say that she is responsible for x dollars illegally then she should surrender that same amount. Could/should we add a punitive amount on top of that??? I don't know how to calculate all of it. What do you think?

ZenGum 03-13-2009 12:08 AM

Person A owns a car.
Person B steals it and sells it to person C, who does not know it is stolen.

Dunno about you lot, but down here, C is not guilty of any crime, but must give the car back to A.
General principle: you can't keep stolen stuff even if you didn't know it was stolen when you got it.

So for the Madoff family, they should be stipped of all assets that the didn't earn themselves. IMHO YMMV etc...

xoxoxoBruce 03-13-2009 01:04 AM

The whole family were officers in Madoff's operation. It's impossible for them not to have known.:eyebrow:


All times are GMT -5. The time now is 06:39 PM.

Powered by: vBulletin Version 3.8.1
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.