Defendants take responsibility for their crimes in the allocution that accompanies their pleas, but, as Miriam Baer observes, here's what Bernard Madoff said today in his:
Which might go under the headline of blaming the victims.
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1. Posted by TaxRascal on March 12, 2009 @ 13:32 | Permalink
It's just a weird document, in general. At one point, he says that he thought he could turn things around and stop the scheme -- so he put all his money in a Chase account!
If he really wanted to end the scheme, wouldn't he have made high-risk bets with some of the money, and kept the rest around to make distributions?
2. Posted by fedgovernor on March 12, 2009 @ 15:47 | Permalink
"At one point, he says that he thought he could turn things around and stop the scheme ..."
Certainly didn't stop him from shielding $20 million in assets by handing them over to his partner in crime - his wife.
Madoff has perpetuated the perfect crime. He has lived a life of luxury the likes of which few human beings will ever know. At age 70, he's retired to a federal country club for rich people. In five years, he'll be out and a multi-millionaire living the life of Riley again.
Along the way, he bribed enough people so that the Securities and Exchange Commission would shield him from investigation.
If it hadn't been for Barack Obama's election, and the subsequent removal of all capital from the market to protect it from the socialists, Madoff would have been able to continue the scheme until he died. But even now that he's been caught, the punishment won't be very harsh for a man of his wealth and breeding.
Mere slaps of the wrist await.
It's the perfect crime, and I can't imagine why EVERYBODY isn't doing it.
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