Madoff holds the cards
Article Submitted By: DanS
The judge is keeping Madoff out of jail and comfy in his penthouse apartment in New York. This decision came down today even while everyone else, including the government prosecutor, is clamoring for his head and for burying him in jail. It is obvious what is going on.
Only one person can tell it all. And, that “all” includes not only where the money may be, but also how many others were involved and how he was able to pull this off for so long. Madoff knows this and so does the judge. It is a classic standoff.
You can be sure the judge won’t let him stay out of jail unless he starts singing. And, you can also be sure that Madoff will take his time painting the full picture. But the end result will be worth it and those calling for his immediate incarceration are being short sighted.
It is time to cool it and let this strategy play out. Madoff will go to jail in good time, and it will be for a long, long time.
Comments
AronLiv, January 15, 2009
Makes sense --- difficult to see any other reason for why the judge accepts his explanation that mailing millions worth of jewelry to friends and family after federal indictment was a mistake.
Ian, January 14, 2009
Nope....you are wrong about the jail sentence..!! Nick Leeson (rogue trader:Barings Bank) will be sitting scratching his head when "madoff" gets sentenced. Leeson got 5 years....Madoff will get less...!!!
soczie, January 14, 2009
I think that you are right. The press and many on this site are calling for his immediate incarceration, but the judge is probably being very deliberate and calculating in trying to get him to start saying where all of the assets have gone. If you steel $50 billion, you still hold some cards vs. if you only steel a couple million or billion, you probably don't have any. Amazing.
