However, you can count me among the people who aren't exactly shedding tears for most of but not all the participants, because at the end of the day everyone involved in this entire pyramid was looking the fast and quick buck short and simple. And for the most part, anyone who lost a great deal of money was part of a select group of people who thought they were better and smarter than the rest of us pee ons, and simply made money off other people's hard earned money, and in most cases never earned a hard dollar in their high society lives.
With the only exception to the rule being the far off in the distance mutual fund Joe's and Betty's who lost everything they worked for only because greedy fund managers saw big bonuses with unrealistic and suspect returns, thus putting charities and other innocent people's life savings at unnecessary risk, when all should have known this was a scheme that was more than dirty.
So those selfish fund managers also bear much of the guilt in this entire greed filled pot of gold turned to coal scheme, so lets all hope at least some hard lessons were learned all around, and next time they will all collectively keep these two age old adages in mind;
If it seems to good to be true, than the chances are, somewhere down the line it is.
And never risk more money in any one investment than one can afford to lose. I learned those two phrases in the fifth grade as did most of these people as well, so their innocent Sargent Shultz 'I Know Nothing" routine is all bunk.
So today the civilized world says goodbye to Bernie Madoff and some prison somewhere gains a new playtoy for the caged up animals and it'll be funtime and would make a great reality show called:
Reuters: "NEW YORK (Reuters) - Admitted thief Bernard Madoff will leave his jail cell and be taken under guard to court on Monday morning to hear his punishment for running Wall Street's biggest and most brazen investment scheme.
A U.S. judge is expected to sentence Madoff, 71, to an effective life term in prison during an emotional court hearing starting at 10 a.m. EDT, in which some of his defrauded investors will describe the shock of losing their life savings.
The swindler, who pleaded guilty to a slew of crimes in the same Manhattan federal court in March, will 'speak to the shame he has felt and to the pain he has caused,' said his lawyer, Ira Lee Sorkin, who has suggested a 12-year prison sentence.
'Given the enormous amount of funds he has stolen and the number of victims, the sentence is going to be very, very high,' said Paul Radvany, a law professor at Fordham University in New York and a former federal prosecutor.
The 100 or so letters sent to the judge from customers and what 10 will say at the hearing could have 'a great impact' at the sentencing, Radvany said." more
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