Thursday, March 12, 2009

Being "Deeply Sorry and Ashamed"

Bernie Madoff, the crook that stole billions of dollars from others-- retirees, foundations, universities-- pleaded guilty today, avoiding a public trial and open shame of himself and accomplices, was given a go straight to jail sentence.

Madoff said in court today that he was "deeply sorry and ashamed." These words are utterly useless and have no redemptive value. What happened to the money Madoff? Who helped you make off with so many billions of OPM? Who benefited?

Being sorry and ashamed or deeply so isn't good enough!


Khaled KEM said...

Hi Judith,

I have been away for a few days and I am finally back. I missed your thoughtful Beings.

I totally agree with you. The guy is facing up to 150 years in prison. Ok even he is 70 years old but what about the money and the savings of the people. Nothing...just forget about it!!

I believe it is the fault of the system that allow this kind of things to happen under the lack of any financial regulation. It was not a one time fraud operation. The guy was fooling the system and his investors for almost 15 years.

Would you please write about the news I read over that economists gave President Obama 59% in handling the economic crisis in the Wall Street Journal. Why these economists let us know what is the solution if they already have one?

What is interesting about this crisis..everyone all of the sudden has a view, a plan..where have you been in the last 10 years?!

Thanks my dear friend


judith ellis said...

Hi Khaled,

YOU were missed!

With regards to Madoff, you know that famous "Jerry Maguire" line:


Regarding economists and other experts, please read my two posts on pundits, newscasters, and analysts. Jon Stewart lets it rip!

You are right to point out that these economist have no ideas or they would present them!

Yeah, where on earth were these guys for the last 10 years? That's a good question!

You are most certainly my dear friend too.


The Write Girl said...

So true Judith,

Some of these retirees have to return to work in their 80's. It's really sad. One can only hope that people will think twice before they swindle and trick others. But people never learn.

judith ellis said...

The Write Girl - The consequences for those who commit such acts and well as all those involved have to be swift and severe. The words spoken are insignificant at such a time as this. Accountability and responsibility for all involved matter most.

CJ said...

Hi Judith--

I'm with you.

It's like a kid at home that gets caught with his hand in the cookie jar. As you are approaching him with the belt, he is crying and screaming, "I'm sorry! Please don't gimme whuppin'!"

Madoff is only sorry he got caught. He made off with a lot of people's money for it, and today the judge "made off" with his freedom.

judith ellis said...

Hey CJ!

I laughed aloud when I read your comment. Right on!

Anonymous said...

Sooo agree - such a shmuck. Ticked me off so bad to read that.

Words don't mean a thing in this case - actions do.

judith ellis said...

Shmuck! Love the word! Agreed!