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Madoff Wants Out of Jail ... for Now

Posted on Mar 13, 2009
AP photo / Jason DeCrow

Flight risk?: In this file photo, Bernard Madoff returns to his Manhattan apartment after making a court appearance last Dec. 17.

Citing such sketchy precedents as rulings in the cases of Enron’s Kenneth Lay and Jeffrey Skilling, Bernard Madoff’s legal team filed an appeal at a New York federal court on Friday requesting that their client be released on bail until he is sentenced on June 16.

The Wall Street Journal:

In their filing, Mr. Madoff’s lawyers also argued that other white-collar defendants facing lengthy jail sentences were allowed to stay free on bail pending sentencing—namely former WorldCom Inc. Chief Executive Bernard J. Ebbers; Adelphia Communications Corp. founder John Rigas; and former Enron Corp. top executives Kenneth Lay and Jeffrey Skilling.

“Unlike Mr. Madoff, these defendants avoided prison for years while they awaited trial, sentencing and, in some cases, appeal,” Messrs. Sorkin and Horwitz said. “On the other hand, Mr. Madoff promptly pled guilty and has accepted responsibility for his wrongdoing. Mr. Madoff should, at the very least, receive the same treatment as these convicted defendants—all of whom certainly had an incentive to flee—and should be released pending sentencing.”

Legal experts said it’s unlikely the appellate court would overturn [U.S. District Judge Denny] Chin’s order and release Mr. Madoff, adding the circuit would have to find that the judge abused his discretion in order to continue Mr. Madoff’s bail.

Prior to a conviction at trial or a guilty plea, the burden is on prosecutors to show a defendant isn’t eligible for bail—namely he’s a risk of flight or a danger to the community.

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By Sepharad, March 16, 2009 at 9:10 pm Link to this comment

Blackspeare, Fadel and Folktruther—Speaking of camels (which I’ve ridden; horses are far more comfortable but it’s all a matter of what you get used to):

Blackspeare’s 1:04pm March 14 comment WASN’T racist (though TD moderator must have thought it was, as I don’t see it here).

Fadel, I don’t expect Folktruther or a TD moderator to know but you live in the Middle East, don’t you? (Or do you?) A common saying in Israel regarding a man who is obviously smitten suddenly by a woman is “Hey, Rebecca [or whoever] made him fall off his camel.” Or “Hey Blackspeare, did you fall off your camel again!” (i.e. are you in love again?). This is also a Bedouin expression and joke, which may be where the Israelis got it from.

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By octopus, March 15, 2009 at 5:22 am Link to this comment

The World is a Ponzi Scheme.
Madoff is a small player….

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By joe R, March 15, 2009 at 4:20 am Link to this comment
(Unregistered commenter)

Any one who steals vast sums like the criminals mentioned in this article deserves a firing squad.

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By Joseph, March 14, 2009 at 9:06 pm Link to this comment
(Unregistered commenter)

Homeboy saw hell, he’ll be checking out the first time he can do himself in (painless of course).

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By Eric L. Prentis, March 14, 2009 at 8:33 pm Link to this comment

Poor hungry orphans who get caught by the police stealing an apple will be put in jail. If however, you are a rich, swindling embezzler running a Ponzi scheme and have money to pay fancy lawyers and bribe the politicians, you will be treated with kid gloves. The moral of the story is: steal big to pay off the politicians and crime pays handsomely. Just ask Wall Street financiers who have looted trillions and are still getting billions in employment bonuses from the government. Schumer/Dodd/Frank/Geithner/Bernanke all have their filthy snouts buried deeply in bankers’ blood money, disgusting.

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By espaz, March 14, 2009 at 7:00 pm Link to this comment
(Unregistered commenter)

that was an incesitive remark i agree….BUT…if you’re gonna put yourself out there as a sterotypical “angry at the jew zionists” middle easterner….your gonna get stuff like what we read.  frankly, i don’t think it was meant to be all that hatefull…  but it was incensitive..

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By Fadel Abdallah, March 14, 2009 at 6:13 pm Link to this comment

By Blackspeare, March 14 at 1:04 pm #

Hey Fadel Abdallah did you fall off your camel again?
An ignorant, bigot racist like you, Blackspeare, will not ever learn and appreciate the nobility of camels and the role they played in human civilization and trade between China and Arabia; and that was long before a mistake was made and brought brute savages like you to this world to make it so insecure!

Actually, I might say metaphorically that I do often ride on “camels of truth and intuitive knowledge” and roam the wilderness of the untruths you live in; a situation which elevates me above the shaky grounds where people like you stand, stuck in the mud of ignorance and bigotry.

I am pleased that just seeing my name encroaches on your zone of comfort and make speechless, except for words of bigotry and racism; an indication that my truths heart the untruthful!

Even the cowardly fake name you hide behind is indicative of the blackness of your heart and soul!

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By Jim C, March 14, 2009 at 5:17 pm Link to this comment

Bernie won’t be doing any ” hard time ” . The upper class’s have their own jail system . While not the type of accommodations to which they’re accustomed , it will hardly be the kind of hole the ” lower classes ’ would be subject to . I’m sure Mr Madoff will be off to some ” club fed ” eventually .

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By Ed Harges, March 14, 2009 at 5:08 pm Link to this comment

As soon as they let him out, wanna bet he suddenly discovers his desire to “return” to Israel?

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By purplewolf, March 14, 2009 at 4:24 pm Link to this comment

If this creep is allowed to have his freedom until sentencing, he will disappear like the morning fog in September.

No presidential suite-like prison cell(s) like O.J. was allowed. Let him have the same roach-rat infested cell as the general population in the dirtiest, hard-core prison system in the world. He can be joined by all his cronies that knew about this for the last 8-9 years, but refused to bring this crook to justice because he was one of them.

He Bernie, hope you find a boyfriend real soon and have a good supply of Vasoline, even though you don’t deserve it and enjoy your “HARD” time.

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By lester333, March 14, 2009 at 3:51 pm Link to this comment

They better not let the bastard out!  More crappy injustices is not acceptable.

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By G.Anderson, March 14, 2009 at 3:02 pm Link to this comment

It’s interesting to me that Kenneth Lay’s name was mentioned in this article, maybe that’s why I refuse to believe that he is really dead. Because his spirit lives on in Mr. Maddoff, and the 10,000 other Madoff’s who remain, on Wall Street and in our financial system, unbowed and unconvicted of anything.

Each time this happens, we allow the media to pick a scape goat who becomes a diversion, that allows the other 10,000 Madoff’s who reamin on Wall Street to escape our scrutiny, and to continue their work of lying, cheating and stealing under the radar, until it happens again.

Sadly, it’s the 10,000 Madoff’s that remain in control of our financial system, lawyers all, who we have more to fear from than the one who will have a short stay in jail.

The other 10,000 Madoff’s remain secure in the knowledge, that Mr. Madoff’s money is safe and they are too, for after all is said and done, they remain in charge.

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By Folktruther, March 14, 2009 at 1:17 pm Link to this comment

It is quie true that Madoff appeared to have ties to Israel, as Fadel says, but what they were is not yet known.  Some of that money is also drug money according to the fiancial analyst who reported him to the SEC years ago, and was ignored.

It is obvious that Madoff, his family and friends have high level protection, his operation being known for years apparently by wall street and covered up.  Unless there are independant truthers who uncover the reality-based truth, as occurred in the 9/11 homicide, Madoff will probably be sentenced to hundreds of years in prison, fined billiions of dollars, and let go after a short time because he is old and sick.  the usual treatment of rich crooks.

Blackspeare’s comment about Fadel is out and out racist.

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By Francis H, March 14, 2009 at 11:33 am Link to this comment
(Unregistered commenter)

I believe he pulled the “Go Directly to Jail” Card:  Do not pass “Go”.  Do not collect $200.  Go directly to JAIL.

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By Fadel Abdallah, March 14, 2009 at 10:00 am Link to this comment

Don’t forget one basic thing America!

Madoff is first and foremost a Zionist, and like all Zionists and Christian Zionists Israel comes first! And if a true investigation was possible, then it would be found that most of the money ended in Israel. It’s part of this huge sums of money he stole that was used to finance the latest Israeli terrorist attack on Gaza.

But, of course, because darling Zionist Israel is involved, every thing will be hush, hush; so we will never know the truth, exactly as we will never know the truth about Israel’s role in 9/11 attacks!

Do you I need to remind my fellow Americans that “The White House and Congress are Israeli-occupied territories”?!

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By Blackspeare, March 14, 2009 at 9:05 am Link to this comment

A couple of things.  First when the final tally is made the total will not be over $15 billion.  The current figure of $65 billion is based on the inflated balance sheets and statements.

$15 billion is still quite a sum and most of that money is still liquid——the appointed trustee knows that.  The problem is finding it and therein lies the rub!  Madoff is an accomplished and cool character who knows his business better than most.  There are things occurring that the public is not privy to.  There is a deal in the works that the bulk of the money will be reimbursed in return for leniency for himself, family, and colleagues.  Madoff knows how it works.

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By FiftyGigs, March 14, 2009 at 7:35 am Link to this comment

“Mr. Madoff promptly pled guilty and has accepted responsibility for his wrongdoing.”

Mr. Madoff pled guilty to being a lying thief. Accepted responsibility? Uh huh. Where’s the money?

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By Jim Yell, March 14, 2009 at 7:05 am Link to this comment
(Unregistered commenter)

Because of the extent of suffering and real physical harm that this man’s crimes are the author of and the long term over which the impact will be felt, Mr. Madoff should not be out of jail, and if there was justice he and others would be executed for their crimes. At lest we could hope that the Madoff family fortunes would be frozen until we can sort out where the money came from and then there should be recovery and a huge fine for having put us thru this.

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By Purple Girl, March 14, 2009 at 5:32 am Link to this comment

Don’t most criminals get sent to prison to await their sentence. Aren’t most criminals thrown into General Pop? I see no reason this criminal should be treated better than a coke Dealer. He was like a coke dealer who was Pushing coke laced with arsenic- Forethought and malice.Screw him, not one accomodation above and beyond what any other criminal would get. No protective city jail,or Cell once in prison….let him see how the other half lives when they commit a crime.
Same goes for all those who allowed this Criminal activity to be pertpetuated- Those who were to be providing oversight and investigation into such crimes. ‘Meet your new Roommate, Bubba and his prison yard Buddies’.
And for those who ventured to screw people of other nations- Stanford’s Antigua Bank- Send them THERE to be prosecuted and imprisoned (or what ever other punishment they decide). Hell Let’s even kick in to cover the One way Ticket and the cost of prosecution.Just Send US your Warrantts for Arrest and we’ll Extradict them without blinking an eye.

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RAE's avatar

By RAE, March 14, 2009 at 5:04 am Link to this comment

Not for a nanosecond. This thief didn’t just make a mistake. For decades he deliberately and consistently conned and lied and defrauded - ruining the financial stability of hundreds of families.

He is not just awaiting trial. He is GUILTY. CONVICTED. Behind bars until dead with ALL assets confiscated by the state* to be RETURNED as equitably as possible to those from which it was stolen.

*(The state has no more right to that money than Madoff does).

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By Canyoubelieveit, March 14, 2009 at 1:11 am Link to this comment
(Unregistered commenter)

..........until he is sentenced on June 16.
Don`t even bother asking ” what year “,because Bernie
>made-off<long before to the land of no return,Israel….like most of them
This will yet be another of those righteous criminals,
either convicted for murder or white collar crime,
who committed some serious crimes only to escape to
the prime-crime-state-of-the-world,you guessed .....Israel.

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