4 ms·
Hopefully he serves as an example to other Ponzi schemers in Wall Street. It's rare in the US white collar guys like this die in prison.
by s_dev 5y ago
Hopefully he serves as an example to other Ponzi schemers in Wall Street. It's rare in the US white collar guys like this die in prison.
- minikites 5y agoPutting one of them in prison isn't threatening when we let hundreds of others walk around free.
- vsareto 5y ago"Look what happens when we choose to catch you"
- mumblemumble 5y agoHopefully, but to be blunt, if that model of punition actually worked, then the homicide rate would have been lower back when gibbeting was still a thing.
- smt88 5y agoFinancial criminals and murderers are not comparable. Prison is like a death sentence to a rich person.
- mumblemumble 5y agoTrue, they aren't, but we're not talking about the class of crime. We're talking about a particular kind of incentive model.
- smt88 5y agoThe "incentive" for murder is usually that someone is angry and not thinking about consequences at all. Financial crimes are usually slow-burning and almost never crimes of passion. Prison doesn't stop murderers, but that has no bearing on whether it stops Madoffs.
- mumblemumble 5y agoAlternatively, we could look at the empirical studies, which seem to indicate that, regardless of the different ways one could hypothesize that in some contexts but not in others, the reality is that, across the board, making sentences tougher has little deterrent effect. https://nij.ojp.gov/topics/articles/five-things-about-deterrence https://nij.ojp.gov/topics/articles/five-things-about-deterr...
- JackPoach 5y agoI believe both of his sons are dead now too.
- deleted 5y ago[deleted]
- snypher 5y ago"They call me either Uncle Bernie or Mr. Madoff. I can't walk anywhere without someone shouting their greetings and encouragement, to keep my spirit up. It's really quite sweet, how concerned everyone was about my well being, including the staff... It's much safer here than walking the streets of New York."