This will be a short diary..
Madoff Put Under House Arrest as SEC Admits Detection Failure
This guy steals 50 Billion dollars from investors, and gets what? House Arrest??? WTF???
Dec. 17 (Bloomberg) -- Bernard Madoff, accused mastermind of a $50 billion investment fraud, was placed under house arrest as pressure mounted on the Securities and Exchange Commission to explain its failure to detect his financial wrongdoing for almost a decade.
Madoff, 70, will be subject to electronic monitoring and a 7 p.m. curfew while his wife, Ruth, today agreed to give up homes in Montauk, New York, and Palm Beach, Florida, if her husband flees. Madoff was arrested Dec. 11 after telling his sons that his firm was "one big lie," the SEC said.
How come the rich always get the deals? If I stole $5000 from anyone and couldn't come up with bail, I'd be eating baloney sandwiches with my new friend Bubba in the county lockup!
Ya gotta feel sorry for Ruth though, don't ya? 2 of her mansions are at stake.. what about the other ones???
And one last question.. WTF do you do with $50 Billion dollars? How could it all be gone? Wouldn't spending that kind of money be a little conspicuous, even over a few years time???