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Bernie Madoff got a 150 years!


Magnum380Z

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Going to jail is just sucking more money from society, something their trying to punish him for...

 

I dont know if this is true but someone told me in China when someone is executed the family is billed for the bullet..

 

True but I believe it is the price we pay to live in a free society. Now, whether tax money for prisons is used efficiently and properly is another discussion.

 

Aren't we supposed to be discussing cars or something?:mrgreen:

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If you're refering to me, You'd be wrong Mikie...

 

Mike Kelly

 

Part of the purpose of punishment is supposed to be deterring hypothetical criminals for committing future crimes, by beholding the sad fate of those already convicted. Some it’s about prevention, not retribution. This may work to some extent for thing such as stiff DUI penalties, but I don’t think that it will help to clean up the financial world. No matter how Medieval we might get on this guy, the upside potential of fraud and nefarious machinations still outweighs the downside. It’s hard to consistently beat the stock market, and these days even by tracking the stock market it’s hard to beat the returns that one gets from burying one’s money in the back yard and forgetting about “making your money work for youâ€. But people can and do try. Many will attempt to cheat their way to profit, punishment or no punishment.

 

The real financial tragedy in the past 15 years has been the lack of good things in which to invest. I remember griping a few years ago on this board how the local real estate market where I live (Dayton, Ohio) is so stagnant or even declining, while people on the coasts are making a killing just by staying in their dumpy old cottage, let alone by speculating in real estate. I was excoriated for my idly cursing the darkness, instead of getting off my lazy butt and finding real estate opportunities a few states over. That was oh-so-2006! Where is that advice-giver now? He was no fool or gambler; but I’ll wager with no fear of foolishness that he has less money now than he did 10 years ago. If even the wise and the longsuffering systematically suffer misfortunes, how can we not expect greedy charlatans to swoop in to take advantage of the less wise and the less knowledgeable investors? No amount of regulation or stiffening of penalties will fix that.

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