True justice would be would to put him into a maximum security prison and turn him loose on hard core inmates. With him going to a federal prison doesn't seem harsh enough.

Oh, also, what makes me sick is that he'll always have a roof over his head and 3 squares. What about all the investors he bilked out of their life savings? Will they be able to afford a roof over their heads and food to boot?

Where is the true retribution to what he did to so many people?

Madoff, thank you for the years of GREED. Its wonderful you've decided to turn yourself in. There are many others that don't have the courage you do and are still working on Wall Street. We have REFORM to thank you for Madoff. Regulatory buearacracy will run rampant on Wall Street. We will seal up the holes you've shown us. The current cockroaches on Wall Street, your days are numbered. Keep stealing as you are, we know your there. I hope your trades are hardly worth the trouble anymore. Watch this!

I say hang him on wall street and leave him hang for a year

My opinion is many many people tried to turn their wealth into 3-4 times what they had and set themselves up to be had if you will. This guy does what many more people in this country do and that is take advantage of people. Except he did it up big. So, since he ripped people with big $ he's going to pay big. Ironically our govertment needs to pursue all persons that pull this crap.

Starting with CEO's who abused stimulus monies? And thats the rest of the story!

I agree with hs1962, hang him on Wall Street. Nothing cruel and unusual about it, let the punishment fit the crime. He in effect ended the life of many people, let his end. In addition sieze all assets belonging to him and his family.

An investigation of the SEC is also in order, how DID this go on for so long? News reports I have seen list complaints or queries about the fund going back a decade. Things didn't smell right then and we just find out now?

His cabinet job was in the Bush administration - another case of the fox witching the hen house...

The reality is he will probably do less time than Martha Stewert did. White color crime does pay after all just ask the Madoff family of Millionaires.

I'd like to see him repay the monies to all the individuals. If he were left with enough to eck out a middle class life that would suit me.

Never mind the million dollar court case. Give the court costs saved to the people he shafted as well. Bypass the court - the agonizing court system and attorneys will grease their own wheels wasting more money on top of what Madoff absconded with.

PAY IT BACK MADOFF. Forget prison terms (spending even MORE taxpayer money by the way).

A half-century of Bernie & Ruth living the Luxury High Life does NOT mean that she should keep 'her' money! All of their victims are living without because of what BOTH Madoff's did. These 2 need to check out of luxury land with ALL assets turned over.

I am just sick and tired of ppl saying Madoff lost these ppls money. He didn't LOSE it he flat out STOLE it. He is a thief or con artist. NOTHING MORE. A common criminal in a fancy suit!

This piece of @!$%# is simply a reflection of the greedy Wall Street elite. I hope this plea deal doesn't include immunity for his ugly, greedy wife.

They should take everything he has and leave his wife with a small apartment and Social Security, like they have done with some of the investors. Then they should put him in a prison wardrobe and make him stay, like the rest of the prisoners, in a small cell, for the rest of his life. He gave up the luxury he was used to when he made the decision to defraud hard working people!! SELL IT ALL AND PAY BACK THOSE HE HURT!!

I think while Madoff awaits sentencing he should spend his time living in a homeless shelter just to get the full effect of what his schemeing has done to many of his clients!

Stripes683 - The Federal prison system is very different from any state 'correctional institution'. In a Fed sentence there is a sentence reduction for good behavior. Anyone older than 60+ gets to be in a facility that is easy going and 'safe'.

A possible 150 years is calculated by adding all of the counts as continuous or end to end. In reality he may get 10 years and be out in less than 6 with good behavior deductions. He may be on parole for the rest of his life, but that won't prevent him from living anywhere he wants to. [During his stay in prison he will get the best food, medical coverage, and anything else that is needed for a human life.]

His wife is another matter. There is NO WAY she wouldn't have known that her sweet, trusting honey was pocketing tons of cash. Besides she benefitted directly from the money he stole. She should keep nothing but receive her Social Security and live like everyone else is during this lousy economic time. Homeless would be appropriate.

Every nickle found in his family, his accounts, overseas safe accounts, property, and anything else of value should be liquidated and distributed, but don't plan on seeing any money go to those who were 'taken for a ride'. The lawyers will get the majority of whatever remains.

How many years will the perpetrators of the biggest Ponzi scheme in history get. We are so worked up about this amateur while re reelect congress to screw us over and over again.

I live near Auburn State Prison, in western NY State. It is bordered by a street named Wall Street, {the prison wall}. It is one of the most brutal prisons in NY. He should be given a skirt and a cell overlooking said street, he would be getting what he has been giving.

Good luck with that.

Oh now Mr. Madoff is ashamed? He is only ashamed because he got caught. This rotten pig should be hung from the highest tree. It is time for white men in suites to pay for their crimes against working Americans.

I don't get it. All the wall street executives that were overcome with "greed" are evil bastards, but people that put all this money in for "impossibly high" returns, giving into that very same greed, are victims? Hmmm.....guess someone needs to write a rulebook on what is bad greed and what is good greed. I mean, if it were the "evil" greed (not sure how many definitions should be made), people would say alot of them got what they deserved, same as Madoff himself.

Maybe it is because they lost all that money that COULD have paid a democrat's taxes.

Go figure.

This sociopath's only motive now is to save his wife and children from having to live without their luxury penthouses and miilions. If you believe that his wife and children were not involved in this then I have some exceptionally high yield securities to sell you. I'm watching what happens to Ruth. If she stays in her penthouse with her millions, the sociopath wins. My money is on Madoff in this one.

VA Mother of 2, exactly. Everyone is wondering where the money went, and I doubt very seriously this money will ever be traced. I think most of it is gone because it is already spent, and he did not keep records. He spent it on the big fancy New York office, he paid employees, we already know $60+ Million of it is in his wife's name, heaven know how much to his sons .... what's hidden in overseas accounts, bullion, jewelry ....

In regard to the wife and family being in on this, well, of course, they were .... and so were most of his employees ....

There are too many cry babies out there! whatever happen to personal reasonability. Don’t hate the player hate the game. There is not one of you out there that would turn down even $1 mil. Get off your high horse. I think he should walk free100%. we have spent more ad tax payers on an inefficient SEC( which is suppose to stop this) in the past 8 years than Madoff took from everyone. the ultimate responsibility lies with the individuals that signed the paper work. If it is too good to be true then guess what! Greed is good it is what keeps America on top!

The bizarre poiont in all of this is that his sons turned him in.

Looks like daddy Madoff raised them in the family tradition of screw anyone to get ahead!

Make him suffer for 5 years then hang him. The suffering is important! The hanging is so he doesn't cost taxpayers any more money!

If Dante knew about Bernie Madoff he would have made room next to Judas in his vision of hell.

They should tatoo his back to look like a naked woman, and turn him loose in the population.

Madoff is nothing more than a cannibal, consuming his own.  I'm not rich and never will be, but it still angers me that he and his family is treated so well through all this.
 
His family members benefitted from his actions when times were good, they should suffer from his actions when times are bad.
 
Cynthia Bousfield

Right up there with Bush's Haliburton and many other crooks who went unchecked. The "slap on the wrist" policy under the Bush Administration needs to go. How many CEO's went to jail for two months after stealing millions? Companies even hire felon CEO's now because it is so common (i.e. Walmart). The lack punishment for the crime on these guys needs to be a thing of the past as Bush is.

The question for me is: Who gets the movie role?

If I were a betting man, I would say George Clooney.

Start the investigations and get all the liars, crooks, thieves, criminals, including the "over seers". who did not do their jobs that were involved, including congress.

Prosecute all!

Think everyone who blames Bush for Madoff wll find this enlightning. You won't see this on the "major" networks.

Who made off with Madoff money? Dems

Wall Street swindler gave hundreds of thousands to candidates

Posted: March 12, 2009
10:31 am Eastern

By Jerome R. Corsi
© 2009 WorldNetDaily

Bernard Madoff

NEW YORK – As Wall Street fund manager Bernard Madoff pleads guilty to 11 counts of criminal fraud in the largest investment Ponzi scheme in U.S. history, prominent Democratic politicians apparently have no intention of returning to Madoff's victims the more than $260,000 he contributed almost entirely to Democratic Party campaigns since the Clinton administration.

While the mainstream media have given considerable coverage to the Madoff scandal, few reporters mention Madoff was a Democrat with a history of thousands of dollars in contributions to Democratic Party candidates.

Get more financial insights from Jerome Corsi in his weekly online newsletter, Red Alert. It's your survival guide in rough economic times.

According to Federal Election Commission records, among Madoff's dozens of contributions to Democrats were the following:

• Sen. Charles Schumer, D-N.Y.: $2,000 in 2002, $6,000 in 2004 and another $2,000 in 1998;
• Sen. Hillary Rodham Clinton, D-N.Y.: $1,000 in 2000
• House Majority Leader Richard Gephardt, D-Mo, presidential campaign: $2,000 in 2003;
• Rep. Charles Rangel, D-N.Y.: $1,000 in 2001; $1,000 in 1998;
• Sen. Frank Lautenberg, D-N.J.: $10,200 in 2007; $1,000 in 2004;
• Gov. Jon Corzine, D-N.J.: $1,000 in 1999.

Madoff appears to have gotten around rules limiting campaign contributions. For instance, he contributed not only to Schumer's campaign but also to a group called "The Friends of Schumer."

(Story continues below)

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Madoff also contributed to Lautenberg's campaign and to the senator's NJ Victory Committee.

Madoff appears to have contributed more than $100,000 to the Democratic Senatorial Campaign Committee while Schumer was chairman, including a $25,000 contribution in 2005.

OpenSecrets.org at the Center for Responsive Politics reports that Madoff and other individuals at his company, Bernard L. Madoff Investment Securities, gave $372,100 in campaign contributions beginning in 1991, with 89 percent going to Democrats.

The offices of Schumer and Rangel did not return WND phone calls asking for comment.

Lautenberg's office referred the call to his attorney in Newark, Mike Griffinger, who also did not return WND's phone call.

Corzine's office indicated he had donated Madoff's campaign contributions to charity.

The State Department did not return a WND phone call asking about how Secretary of State Clinton planned to handle contributions Madoff made to her political campaigns.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=91510

Madoff can possibly do as little as eight years, with a full pardon from the president when he leaves office.

The Feds need to take all of his wife's asset's as well and investigate all of his relatives and Friends

Who made off with Madoff money? Dems

I see you failed to list the 11% of gop that got funds.

Do You love to hate................? Or Hate to love?

And I don't blame bush for this, I don't think he is that smart.

Sir, I did not list anything. I posted a factual article. In addition it isn't who received funds (although Telling) it is that the recipients will not return funds. The trustee should force return as he will with any unfortunate investors who received monies earlier in the Ponzi scheme. What does the info tell you? Why do facts make me a hater? Also your gratuitous comment at the end is very telling. I do not recall Bush requiring a telepromper be present at every public event including recieving answers to live questions. Obama's lack of self confidence and inability to act on his feet is frightening.

I heard he's taking over for Barney Frank when his "house arrest" sentence is over!;)

" I posted a factual article."

World Net Daily?????

Oh, Puh-LEEEEEEEEEZ!!!!!

"The Onion" is more factual, unless you LIKE drinking Neo-Con GOP Kool-Aid.

As horrible as it is for so many, especailly individuals, and charities to have lost all their money, life savings, or retirement funds, I'm sorry, but personally,  I don't have a whole lot of sympathy for all the people that bought into Madoff's scheme.  Madoff was greedy, there's absolutely no doubt about that, but so were all of the people that willingly handed all their money over to him.

And once again, lack of personal responsibility comes into play here with everyone blaming the fox for eating up all of the chickens, but no one blaming the farmer for leaving the hen house door WIDE open.

Greed - that's all any of this boils down too in the end.  Greed on the part of those involved in orchestrating the scheme, and greed on the part of those that willingly got involved in the scheme by handing over all of their money.

You know, that old saying "Don't put all of your eggs in one basket" was thought up for a reason, and is a very wise common sense rule of thumb to follow, especially where one's money is concerned.  Apparently, where Mr. Madoff was concerned, all of his victims lost sight of good old common sense and allowed their greed to govern their actions.

It pains me to see so many people having to suffer due to one man's horribly greedy actions.  But at the same time, it's very difficult for me to have complete sympathy for so many of Madoff's victims whose actions, in many ways, were governed by that same sense of greed.

Considering all above posts, just about every sentiment has been covered. However, no one yet has voiced about the largest, most corrupt "Ponzi scheme of all time" and that is our own Government. Outrageous that we have self serving, corrupt, inept Legislators, actually sitting in OUR Ivory towers and proclaiming it was the Bankers or Wall street. Not a damn one of those morons took any meaningful remedy during this entire fiasco of Bankers and Wall street ripping us off. NOW they have the sheer gall and temerity to point fingers> They should all be forcefully removed from office and tarred and feathered, stripped of every benefit and made to do a life time of community service. Trust me, Madoff is just the tip of a Wall street Banking corruption, there is much more to come.

Please point out any inaccuracies.Seems to me they havent had to retract their info as has the NYT, CBS, ABC.

There should be a law similar to the RICO laws that the DEA uses for prosecuting major drug dealers from ill gotten gains.

-Madoff would be forced to turn over information to the whereabouts of the money
-He would definitely to jail time, with no reduction OR parole.
-ALL business and personal assests would be frozen and turned over to authorities, and to pay back to the victims.

There, problem solved....

He's no better than a drug dealer...he just happens to live on wall street wearing a better suit.

I agree with you this is a great injustice to the people he stole from. but what about the wife sitting there in plush surroundings. Should all properties not be confiscated and disposed with the proceeds going to the investors? She is as guilty as he is and she had to have known what was going on. There should be no waiting -- take the stuff and she should be out by 5:00 p.m.

Sorry - when you associated with crooks you are a crook.

I would rather he right a book than he left a book.

"concealed his fraud by submitting audited reports to the SEC."

Who was the auditor??? They should go to jail too.

His entire family should be ruined! His sons and wife knew what was going on and should go to jail! The reports I am hearing the sec investigated him 8 times and his co. was cleared!!!!!!At the very least his wife should be forced to live in a slum and get a job waitressing at the local greasy spoon.

Has anyone ever heard of a person going into court without a plea deal and pleading guilty on all charges. This is strange...and not over. I have a feeling the arrests and charges are related to this is going to be in the news for the next several years.

"concealed his fraud by submitting audited reports to the SEC."

Who was the auditor??? They should go to jail too.

If the early investors who took out more than they invested were required to repay their "unearned" profits, most of the missing money could be recouped and repaid to those defrauded. I wonder if anyone is looking at this possibility. Sounds like 80% of the $65 Billion "value" was "phantom profits" part of which should not have been paid out to those who got out before the truth came out. Why should they keep these false profits and the other investors pay the price?

Wow dal...only took less than 1/4 of the page before someone blamed Bush....

Zach...have you ever invested money with an advisor?? One that has been in the business for years that you think you can trust??

You obviously haven't since your comments seem to blame the investors....think before you drink Zach....your posts might be a little better...

Frankly, I think jail is too easy a punishment for him. He'll probably be out in just a few years and gets to walk away and live the rest of his life in style. The punishment should be that he and the Mrs have to liquidate everything...and I mean everything. Jewels, furs, stocks, bonds, property, cars, everything. Nothing is safe! And nothing can be "hidden" by being his wife's. She knew. While she didn't do it, she's guilty by association. Nothing should be "hidden" in her name. Once it's all sold, the money would go to repay the investors. This would hurt him worse than 5 or 6 years in jail. And it might teach others that you can't do this or you'll pay......with all your possessions!

Well he will not show up at Larry King, since Larry King was one off the investors frauded by this ...... man.

He knew what he was doing, and not sorry he ripped off the investors, but sorry he got caught! The Judge should turn him loose to the investors that lost money and let them invoke the punishment. I am suprised someone has not put out a contract on him by now. The courts should freeze all his, and his family's assets. Then sell off all the assets and buy condos for the loosers to live. He is such a evil person, he needs to be _________.

This guy was a good teacher too. Look at the Ponzi scheme the "Change" administration & congress is conducting. Only problem is they won't go to jail.

Someone up the chain here suggested hanging Bernie on Wall Street for a year - a little too gruesome for my taste, but a few years back we visited the "Witch" museum in Rothenberg, Germany, right out front they had a replica of a "Spinning Pillory" - the convicted person was locked inside and anyone and everyone could come by and give it a spin or two, or three......  Anyway this seems much more fitting and probably much worse than just hanging which is too immediate and way to easy on Bernie - of course spending the rest of his life in a Federal White Collar prision - a la Martha Stewart - won't be a though time either. 

His wife on the other hand needs to be moved into a one bedroom retirement home, with a burlap couch, cheap carpet and a Black&White TV (not digital), Bernie had no problem sending lots of people to a similar abode and doesn't seem to be sad about that at all.  What's good enought for the gander is good enough for the goose....

Only in a perfect world would one expect justice in this. His assets and his wife's will still be available to them even after jail.

That's one cockroach down. Unfortunately where there's on there's thousands. I hope that the Feds step it up and eliminate the rest of the infestation.

Why put him in jail? What do you think it costs taxes payers every year to house, feed, clothe an idiot like this? Thousands upon thousands of dollars. Hasn't he ripped off the public enough.

I say sell all his assets except the prison garb he's currently wearing. That includes his wifes assets as well. Give him a broken down shopping cart, one large trash bag and send him packing. I highly doubt he has any friends who would be sucker enough to take him in. Let him live on the street and experience hardship for once in his life. In fact I'd make sure that's exactly where he lives. Make an example of him.

I'd do the same to every one of these greedy *&^%$#$# they don't deserve to live in a prison and receive food, housing, and clothing from those of us who work hard for an honest living and pay taxes.

I have seen the argument made that the actual fraud was only 20 billion or so because of the phantom profits. This argument is seriously flawed. The initial capital presumably would of been invested somewhere else earning money for that period and therfor would of both been contributing to the actual economy and would of been gaining value. If you had invested in Gold instead of Madoff you would actually have more money. If you had invested in a legitimate Hedge fund odds are you would of been close to even. Madoffs numbers were right in line with the other managers until recently. Yes there was some suspicion because of the consistency of his returns not the rate of return.

Think about what a difference it would of made in the economy if that 20 billion was actually funding New and dynamic companies. It could of been funding Pharmaceuticals, Software, production, any number of things that would of been benifitting America. There is probably a budding Microsoft out there that these funds were diverted from. Or possibly an alternative fuel company is sitting on the edge of a breakthrough and instead of your investment dollars going into this they were just divied up amongst the Madoff insiders.

This guy stole from all of us! Dont think just the rich got screwed here every American has missed out on New products, new technologies, New medicines because of the actions of this company.

he should be made to live in the poorest section of new york with an ankel braclet, and let him have $50 a day for living espenses. with security guards he should be made live in the slums

Yea Norman...The man has apologized already. Can't you see he has shown remorse? ..........

Hey Stripe, I agree with you. He'll get a "slap on the wrist" punishment for 6 months in a white collar prison, then when he gets out he'll will write a memoir book which will make him a millionaire, AGAIN!! Only place I disagree with you is I doubt Larry King will have him on his show because Madoff lost millions of his dollars because King invested with his company. But perhaps Opera or Dr. Phil would take on Bernie and Ruth.

Solution: Madoff's punishment should be that he & his wife are left with nothing but the clothes on their backs and have to live with the OctoMom caring for the 14 children. No book deals, no TV interviews, no income generated jobs. I doubt they would have time for much of anything else other than changing diapers, feeding babies, bathing babies, cooking for the other children and tending to other baby needs. This way, the Madoff's are punished and the babies get 24 hour care!!!!!

This was indeed a hollow victory for Justice. The guy's family will not be held accountable--Apparently !

I believe I read that his wife was his secretary ??? Hmmmm !!! Do you think she knew ?? !!

His sons don't seem to be getting grilled ! Do you think they knew ?? Do you think they benefitted from their father's scheme ??

So, here's the plan. On April 1, 2009, all Americans are asked to send a TEABAG to Washington, D.C. You do not have to enclose a note or any other information unless you so desire. Just a TEABAG. Many cities are organizing protests. If you simply search, "New American Tea Party", several sites will come up. If you aren't the 'protester' type, simply make your one voice heard with a TEABAG. Your one voice will become a roar when joined with millions of others that feel the same way. Yes, something needs to be done but the lack of confidence as shown by the steady decline in the stock market speaks volumes.

This was not my idea. I visited the sites of the 'New American Tea Party's and an online survey showed over 90% of thousands said they would send the teabag on April 1. Why, April 1??? We want them to reach Washington by April 15. Will you do it? I will.

Send it to: 1600 Pennsylvania Ave. Washington, D.C. 20500

GET THE WORD OUT

I'm sure there are some lawyers in this posting group!

Can one of you explain WHY it takes so many months to come back and sentence someone ?

I saw this with Mr Ken Lay (Mr. ENRON). Convicted one month, to be sentenced about 6 months later. (Seems very fishy !) Died in between.

I notice that with most "Real" Criminal cases, the sentencing is realatively swift !

A one way ticket to Columbia or Russia would be a just sentence ,this is all going to be swept under the rug as quickly as possible,hence the guilty plea,any investigation into Madoffs dealings will surely expose many,many people in positions of authority that should,by their duty,have stopped his theft

How do you "RIGHT" a Book exactly???

Prison is the HARSHEST Punishment there is, Death is too merciful for serious Criminals...

I'd bet he'd LOVE that Free Trip to Columbia or Russia, he could join the Russian Mafia...

He feels 'ashamed' NOW? Are you kidding me he has it all backwards.......he should have thought of that BEFORE he ripped his friends and associates off of BILLIONS of dollars. What I want to know is why he and his wife figure they have the 'right' to stay in that 7 million dollar condo they live in. It seems to me every single asset they have should be frozen and then sold off to make a small dent in what they owe to the people they stole from. His wife needs to go up the river too. She did the books for his 'company' guaranteed she knew EXACTLY what was going on.

You don't know that to be true about his wife winkies, he probably kept her very much in the dark about his dealings until that is he finally acknowledged what he was doing to his relatives.

Ref post 1.61.... you are right Norman he is a great man. A great thief like all the other CEO's, bankers and other investors who work on Wall Street. He must have given you some real good returns on your investments with someone else's money or did you even bother to check to see where it came from? Sorry????? Yes he is sorry!!!!! A sorry excuse for a business man and the only reason he is sorry now is because he got caught. Since you seem to be a great supporter of this thief, maybe you would like to get a job along side him and help him pay it all back. I am sure he would appreciate it. As others have said on this board, his entire family fortune should be liquidated and used to pay back all those individuals and charities that lost money. Don't forget, this thief not only stole from individual investors but from charity organizations as well Anything left after the initial payments have been made should be distributed to food banks through out the country. As for Madoff.....Maybe jail is to good for him. Sentence him to life in a homeless shelter where he can work serving food to the homeless, some of which may be some of the investors he stole from.

Humm???

Doubtful that his family will be homeless.

Hopefully, he will take the investors advice, jail him immediately, take his penthouse, take all his assets, take his wife's assets, take his son's assets and set this straight. If his family has to live under an overpass and eat out of a soup kitchen, so be it!

AMEN!

Yeah RIghteous, that's what they should do to Bush and Cheney also...

He outfoxed the Government; by not making any plea deal, he does not have to divulge any information on where the money may be. His minimum sentence on a plea deal would have been 20-25 years; for a 70 year old that is a life sentence anyway.

Now Government try to find the money,a snake to the end.

your a fool did you loose money he is my hero

This man needs to go to jail and all the stupid idiots that fell for the fraud need to be completely detroyed befors thier gene pool can multiply. What ever happened to "If it seems to good to be true, it probably is".

If you calculate the losses in the past year and divide by 50 billion, there are about 2000 more Bernie Madoffs still out there.

Terry let me guess you rooted for Darth Vader and the Nazi's also. I think you need to reevaluate your heroes

Norman you must be a complete idiot. Ruth Madoff told people she did the books for the company. Unless she is a complete moron or mentally disabled there is no way on this earth that she was unaware of what was going on. On top of that where is the 50 Billion? I am sure all of their possesions were purchased with stolen money. You can't possibly expect anyone with a brain to believe that this woman didn't know exactly what he was doing. She may not have physically been the one to take the money from the people but she knew about it and did nothing to stop it. She profitted from it therefore knowing about it and doing nothing and receiving the stolen profits are a crime as well look it up. She is an accessory to the crime and at the very least in possession of stolen property.

I am suprised someone has not terminated this man. He knew what he was doing and is nor sorry he committed the crimes, just sorry he got caught. All his assets and his wife's should be frozen then sold to give back to the investors that lost money. He has wrecked the lives of thousands. What justice! This country will not last another ten years. No one is punished for white collar crimes. He is responsible and should be terminated. That will send a clear message, but our system has no men left, so he will get a penthouse to suffer out his life.

Of course his legal team will get him the softest judgement, I'll bet they were heavily invested with him too, and when he went to them before this went public (you know he did) their accounts were paid out before the press was called.

Must be nice to have low friends in high places.

I doubt he has many friends at that level now. I seriously doubt anyone would stick their neck out for him He screwed a lot of his friends, neighbors, etc.

So a little good news!

With Madoff out of the way, maybe the stock market will rise a little! Hard to believe that he was in charge of the NASDAQ at one time. Makes you wonder what happened then.

Now if we could find Osama Bin Ladenand take care of him, it would lift the spirits of the entire country! Maybe people would loosen up a bit and see silver linings somewhere in those dark clouds.

Inspiration is a funny thing. George Bush used it after 911 about as good as anytime I have ever seen. It got him re-elected... (don't want to argue the merits of the whole thing) and it kept our economy from going into the trash can.

When people feel bad they are unproductive. When they feel good they can conquer the world. This feeling is something that has not hit home from the new regime in the White House. I'm very astonished at this. Especially since President Obama has been considered to be such an inspirational speaker. To this point, I feel that he hasn't lived up to that expectation. The aura of a John F. Kennedy speech, or a Ronald Reagan moment has not happened to move us forward.

Hope he finds it within himself. And I hope that he'll break-away from the houses and be his own man. We need that Inspiration from the top.

Hope the victums get some kind of compensation!

And THEN, Bush SHOVED us down the TOILET where we ARE NOW...

Osama Bin Laden is living in Florida and has a Felafel stand and Sells pics of the WTC...

Liberal and Proud...

Go get him! You seem to have the answers.

It was novel of you to blame Bush! Nobody ever thought of that!

Enjoyed your provocative commentary.

To answer one of your questions "what would a trial do?" -- everyone is entitled to due process under our constitution. While I, personally, feel that in this case, it's stretching it a bit far, since Madoff is pleading guilty up front, he's waiving his right to a jury trial. My guess is that he's doing this to avoid being confronted by the people whose lives he ruined, but he has to meet up with them today, even so.

This man has spent the last several months living in his luxury condo in Manhattan! His wife withdrew Millions just prior to his admitance of the crime! They lived off other peoples money for half a century! They are still living in comfort while his VICTIMS are desparately looking for a way to pay their rent!!! A trial would at least give these victims a voice!

My bet is that wifey will somehow make off with the millions she purports to be 'only hers', lawyers will suck up as much of that as they can, and Bernie-boy spends a few days in a minimum security bungelow! Some justice!

My guess is that he's doing this to avoid being confronted by the people whose lives he ruined, but he has to meet up with them today, even so.

Jail may be what he wants!

After bilking thousands out of billions, jail is probably the safest place for him.

Someone up this chain suggested hanging Bernie on Wall Street for a year - a little too much in my oponion, but... a number of years ago I visited the "Witch Museum" in Rottenburg, Germany. Just in front they had a "Pillory" - the convicted offender was locked inside and anyone could come along and give it a spin or two or three..... somehow this seems much worse that simply being hanged.

His wife needs to be moved to a retirement home with a couch, cheap carpet and a Black and White TV (not digital) - Bernie doesn't seem to have any regret for sending many to a similar fate, why not his wife?

For anyone's interest he's IN JAIL right now AND in THIS country you are Innocent until you are PROVEN Guilty beyond a reasonable doubt! Some of you folks don't seem to know that....

I've got just one question; Where's the money?

Lock him up and throw away the key.

I've got just one question; Where's the money?

Some of it would be in Mrs. Madoff's bank account. Wonder when they'll pursue her. As his secretary she was indisputably aware of his antics. And as a recipient of multiple 7 figure disbursements before and after it became public knowledge, she's definitely got some things to answer for.

So, how do you think he spent his time in confinement in his penthouse? You can bet he wasn't playing Monopoly! He had plenty of time to think, with his crooked mind and crooked family! I'll get as much money switched to SAFE banks overseas and it will be in all of my families' names. They'll never see one red cent. It's all for my loving family. I'm old and expendible. I have all of your butts covered. They'll think it was me alone. In the meantime I'll get a bunch of lethal pills and as soon as I see it's time, DOWN THEY GO! Now for my funeral plans............................

I've got just one question; Where's the money?

I bet his wife and sons know. Just watch which country they move to once hes in jail. That's where the money will be!

I would bet that his wife knew and probably took part in this conspiracy to defraud thousands. Shes accustomed to a lifestyle that was funded by someone's money.

And you can bet she is going to play dumb.

Thieves have no honor nor do cowards.

you know what?? i TOTALLY agree with you Pat. I don't think somebody like him would sit in a jail and rot. I honestly think he'll take his life.

The Feds let investors down. Where is the money? Who else was involved? Who missed this fraud at the SEC? We want our money!!!

He didn't have to bribe anyone, he was Corn Hole Buddies with the Archbishop...

Great analogy!!

How very right you are,we certainly have many people like Madoff in our country,there are 535 many times worse than he,we call them "Congress".The rip-off that they are currently perpetrating is as you know in the "trillions",Madoff is a beginner compared to them.

What I dont understand is why all the seething bitterness toward him and his family when you dummies keep sending the worst theives in this country back to Washington and give them big salaries,ridiculous pensions,free offices ,paid staffs,airplanes,chauffer driven limos,etc.

Almost everyone connected to Obama is either a tax cheat,convicted swindler,terrorist or USA hating "preacher"and you think he is the second coming.

Bernie is bad alright but you guys need to wake up to the "real danger".

They also employ their families as part of their illegal schemes,only they call them "lobbyists" and (il)legal staff.

"Not to mention this guy is a scumbag who, along with his family, is deluded enough to think he is above the law and need not answer to the laws of the nation."

Sounds like you are speaking about our politicians, NSA, CIA, FBI, DEA, ATF, State police, & local cops think!!!! Basically ANYONE with a BADGE & a GUN.

When are the american people going to DEMAND that we need "civilian" review boards (LOTS of them) "armed" with handcuffs, weapons, and the power to issue "search warrants" to constantly monitor ALL these different agencys with the POWER to bring charges, arrest, prosecute, try, convict, and send them ALL to jail.

Madoff is the "sacrifical lamb" and as soon as he is out of the the media spotlight, american corruption will just continue on like "business as usual".

The "TRUST" in america is gone people, NEVER to return.

Nuff said.........

OK, Ron....then who should we send to Washington? The straight and honest Republicans? I think not......I'm not for the Dems either. I've always said: "Anyone who wants to be in political office, is a crook. He or she has stepped on many toes to get there."

Here's another example of greed: Hank Greenberg, the one who started AIG. He's a multi-BILLIONAIRE many times over.....he's complaining about losing a couple of billion dollars and is now suing AIG because he lost money in stocks. He's 82 years old for heaven's sake. How much more money could he possibly want????? Can't a person just accept that he's old and its time to enjoy the few years left of life. But, NOOOOO, greed and unscrupulous people can't live that way.

Someone answer this question for me: Was Bernie getting his jollies from people saying how "wonderful Bernie and his wife are because they are rich"? Why is someone so greedy and have no morals?

We have a lot of THIEVES in this country? REALLY? You mean like Bush and Cheney???

Exactly Just Like Bush and Cheney

Interesting idea. I hear Git-mo will have several vacancies really soon.

He got away with it for 50 years and may have gotten away with it for longer if he had not confessed.

It is the same mentality of greed / entitlement which made brokers sell Madoff to investors, made investors expect high returns with no risk, makes the present Gov.t and Congress spend money on pet projects money they do not have, makes auto workers insist on us paying for their wages and benefits, makes people of all walks of life want more than they can afford, etc.

Look at Social Security, the biggest Ponzi scheme of them all.

Bonita, I'm asking the same thing. Why does someone do this? Greedy, greedy, greedy. Being called greedy is not a shameful thing anymore, I guess.

You GOT IT, Somewhere in Houston. It's COOL to be Greedy, Shameful to be NEEDY! It's the NEOCON Way...

Why do they do it? Because they can. They start small, probably needed a little extra cash for upgrading his life style, it worked so they do it again. It is a classic case of theft, although on a grand scale. However, he must have had help squandering and hiding all of that loot and I would suggest that the law look into his entire families wealth and have them prove where it came from. We have a crook up here in Canada that has just been extradited from Portland, Ore. to face the same charges, and the funny thing about this SOB is that while he was in hiding down there, a couple of the people who he allegedly swindled , sent him over $500,000. to help him out while hiding out....

Wrong line. He'll be at the head of the receiving line.

On one condition Norman, that YOU lend him 10 Million to get back in action with...

Madoff's proposed weekly prison schedule:
Monday - whipping handcuffed to cell bars with bull whip, extra lashes for inaccuracies in Sundays journal.
Tuesday - 3 rounds bare knuckle boxing with any comers - hands handcuffed behind back.
Wednesday- Electro shock therapy - wired to button for visitors/victims to press as desired.
Thursday - Tourcher de jour {water-boarding, bamboo shoots, etc. }
Friday - Stockade day - shackled in a Public square so passers by can spit on him.
Saturday - Weekly shower and night in with the inmates.
Sunday - Solitary confinement with pad of paper to journal past weeks activities and coming weeks events

norman,
No sicker than your suggestion. You can play catch with Bernie if you like.

Norman, there is no way that he is ever going to repay all that he stole. That money is gone. So you want him to be allowed to continue to work in the investment business so he can steal from more people to repay the first group he stole from. Then who is going to pay the second group when he dies? Do i hear a volunteer? I did not think so. How long ago was it that you invested with him. If it was in the last 50 years then I would be willing to bet you got paid with money from someone else's retirment fund or possibly from some children's charity organization. What he did was no mistake. Thieves plan their crimes before they commit them and to do what he did took plenty of planning not only by him but with the cooperation of others working for him.

I would think in this case, 150 years is life.

Hopefully he will be in a max sec prison for life eating outdated and rotten food accured by another scoundrel, then go to hell in the afterlife which lasts for eternity. I'd hope he would truly repent to God, but it seems he doesn't even have that in him. The curse lasts generations according to Scripture.

Not sure GOD is in his future! It may be more likely that the guy with red horns, pitchfork and tail may have a special little room for him. Best description of him I heard today was "he's a MAGGOT!" He feeds off people even after he's killed them.

Pat, he'll probably offer the horned guy a great investment opportunity.

They should put him in a Cell with DICK CHENEY, now THAT would be PUNISHMENT!

Mafia Organization? What the hell does that have to do with anything?

Wow Henry, you brought up a very good point. It's real convoluted, isn't it. Round and round we go, where we stop, nobody knows. Wheel of Fortune!

I'm sorry, Henry. This is such a scam, the whole ball. What should we really be concentrating on, that's my question. What's going on right now that we aren't seeing because we spend so much time looking at the other hand? What else can you do? You can't cause it ain't your shell game.

If you look at the other hand of this flim flam artist you will probably find some of the money which somehow has magically disappeared. I also think they should put madoff in a locked room for 1 hour each with each person he screwed. Then throw in in jail. Not a nice american jail, a nice mexican one.

Henry:

Since many of those stung by this scheme have no money, it would be nice if the SEC; the FBI; and the IRS offered to do tax rework free, especially if they did it without pay, since they were being paid to guard against schemes of this type in the first place. Maybe they can do it on the weekends. They should also chip in to pay the interest back on erroneous tax, Hah!

I am disgusted that some of these geniuses of oversight are not on the chopping block with Madoff, especially with the numerous tips they received from the private sector that something was stinky.

How many more of these con games are out there? Keep your eyes open for more "other shoe" droppings.

Good Luck!

Snake, I fear you're 100% right. Now, if it were you or I, they'd throw us UNDER the jail.

Put him on the street, naked; broke; and friendless. Prison is too expensive. Let the public take care of him and his family and his employees and his friends and his relatives. That would approach the equal measure of penance.

Good Luck.

No minimum security country club for this guy no matter how well his lawyers are paid. Anybody in the State of New York sentenced to more than 25 years goes to a maximum security prison...period. Do not pass go, do not collect..ahh scratch that. Anyway the bottom line is that Madoff is going to spend the rest of his days in a 8 x 10 cell with a guy named Bubba. Hallelujah! Now let's hope the prosecutors can pin something on the wife and sons.

Could be worse, he could have to stay in a Cell with G.W. 'Doofus' Bush...

Nah, he's a freaking goner big time. They just need him around to help track some of the money. They need to strong arm his family into revealing money location(s) as well. Threatening to lock up his princess will loosen him up a bit as well. No self- respecting Judge will let this hoser off the hook no matter who his attorneys are. Anyone who throws this jerk Madoff to the wolves will be looking pretty heroic politically, so they'll be milking it for all its worth at his/ (and our) expense. He's lucky he's not in China- they execute quite quickly for a lot, lot less to set examples, but probably doesn't matter, he's so far gone mentally he's probably a rotten tomatoe by now. They'll say he has dementia or whatever for sympathy and set him up in club Fed somewhere sipping orange juice through a straw, wearing an Izod sweater. Must pressure family members to keep him "lucid" to remember where the money is. He knows where every single dime is. This stuff about confessing to his sons- give me break- very bogus deception and cover story. He's the only one handling 50 billion? Whacked out! Go get all of them before they disappear for gosh sakes! Move the lawyers aside!

You are a prime example of what's wrong with this country: a distinct lack of compassion for anyone else. I care about the blue-collar and middle-class workers who trusted this man and gave them their life savings to invest, not out of "greed", as you so cynically assert, but because he convinced them that he could be entrusted with what they worked so hard for, and that they could provide for their famliies by doing so. You should be ashamed of yourself for being so cold-hearted. Get a soul.

Rae, I'd have to agree with Janey...."The love of money is the root of all evil!!!"

I too invest in the markets, but agree with her assessment of "if it's too good to be true..."

average jane:

I basically agree with you. Yes, Madoff is a criminal and anyone else tied to this, and they should be prosecuted to the full extent of the law. But, people that "invest" their 'life savings' on the basis of verbal contracts and the promise of interest rates that no investment ever pays need to do a little homework. I don't have a whole lot of sympathy for people that are blinded totally by greed and don't do the proper due diligence. Unfortunately, like the housing bullsh** and bailing out people who shouldn't have the house in the first place, too many don't want to take the responsibility for being an idiot!

And Rae:

Pleezzzz, people need to take responsbility for themselves and know what they are doing!! Too good to be true - then it is!

I agree with Jane; and Rae, wake up. We are ALL the captains of our own destiny, and if you want to invest, you do it somewhat intelligently. Even when you set up an IRA, there are "high", "Medium", and "Low-Risk" investment plans. With high risk of course comes higher gain, but also the higher chance for loss, obviously.

What is the difference between giving someone a dollar and saying "double this, that way I don't have to work for it" and saying "here is a dollar, make your company stronger and give me back a dollar ten"? One is a high risk investment.

Maybe what these people did that can be viewed as GREEDY is invest every penny of their savings. Maybe had they split their investments, they wouldn't have gotten rich so quickly but may have still had some retirement money. See the difference?

Anyone who takes their homes and everything else they need to survive and stakes it on a gamble, has greed issues and probably gambling issues too! In the meantime, people in my area of the country are fighting for ($5.15 an hour) minimum wage jobs to feed their families, and are already losing their homes. So honestly, call me cavalier, but I don't care what happens to people who do that. Let 'em stand in a food bank line that they used to drive by and sneer. It builds character.

only the greedy would be so stupid to just trust someone else to make money for them. i say they were as guilty as he is, for trusting him with their money. honestly, greedy people should be burned for their greed(greed begets greed).

We need to remember the SEC gave his fund a clean bill of health, a thumbs up. People had every right to believe the fund was on the up and up.

Ol Glenn,

That's because the money is all 'based on trust and faith' There's no REAL assets for auditing by regulators.

Give me a ledger , a computer , and about a week, and I can make any business look like a completely legitimate business worth 10s of millions of dollars. Sure it's REALLY only worth a few grand , but because there's no way to PROVE tangible corporate assets , the SEC goes off of the books and electronic records. The SEC can only regulate what they're given. The only way to get around the old 'book cooking' technique is the SEC placing trapdoors into ALL financial records. But then this DRAMATICALLY infringes on personal privacy, so in reality ... there's nothing that is WILLING to be done to stop this from happening again.

I don't know about you but I choose my mechanic, accountant, doctor, dentist, financial advisor, whoever... because they have more training and education in their professional fields. Usually it's by word of mouth. (I live in a small town)

When my accountant has me in to go over my taxes, I believe him because he has the education and "knows" the tax laws. (If I knew them I wouldn't need an accountant) When my mechanic says a particular knocking needs attention, I trust him to know what he is talking about usually without getting a second opinion because he hasn't let me down before. (If I knew what that knocking was and how to fix it, I wouldn't need a mechanic) When the dentist says I need a cavity filled, I trust him...I don't have the education to read those Xrays. (If I did, I wouldn't need a dentist) When my financial advisor says I should get some good returns on my investments, shows me history, I trust him because that's what I hired him to do. (I don't have the time to monitor the history of all possible investments) Why should I doubt my statements? How do you tell if your statements are falsified? Really, I'm asking, how do you find out if your statements are false?

I'm betting the majority of you people saying that the investors were at fault, don't do a background check on every service you hire. Just wondering if you all REALLY know what's going on behind the scene of your investments. Those people didn't deserve to loose ALL of their $

For everyone's edification here, Investors did NOT deal directly with Madoff, they were PUT IN with his company by their BROKERS! Which is why they did not question the situation...

Big returns are not unheard of on Wall Street. It's common at certain times, but it doesn't mean it's normal or right, but it does happen,so that is why people are inticed to invest in these types of schemes; significant returns do happen, but there are no guarantees of course. People have gotten rich in the stock market, no question about it, but people have also lost bigtime as well. The problem is that some of these people put ALL of their money in this one basket foolishly. No self respecting investor does that in my simple mind. Even in this scheme people made big money by getting out at the right time I am sure. Do they need to return their "profits" to the overall account to cover the unfortunate loser? I would say yes, because I believe no money was ligitimately invested with any real company that produced or sold any product. It's like handling hot goods. Just because some guy stole a car and gave it to you doesn't mean you get to keep it. And this whole thing that Bernie didn't keep records-what? That's crazy in this electronic age. Might not be easy but I bet half of the money could be recovered through transaction records. It's just too much money. No one asked for receipts for tax purposes? Give me a break.

Rich people could 'care less' about you too Jeanette. But you needn't worry about them cause you see they are RICH and so losing a few Mill doesn't count for much...

I have been saying this for years, that Wall Street is a farse. Look back at the other recessions, what created the dot.com bubble and bust.......WALL STREET........the housing bubble and bust........WALL STREET..... and the others that I have not researched yet.

He ran NASDAC(sp), what do you think he was doing then......the same thing.

The real amount of money lost is only what people gave him, beyond that , it is just ink on paper. He pocketed all that money and possibly paid out some of it to people at the top of this scheme who cashed in early.

Well you are seeing nowdays the true market around 7,000. LOL, nobody listened when it went sky high. Everyone just ran off to the bank. Well sorry, you created Wall Street America, deal with it. Regulate it, close the holes, get a hearing started on it and run them through the wash. All we as Americans want right now is our savings accounts to be giving us compounded intrest daily at 7%. Screw trusting Wall Street anymore. Berneke, get busy BOY!

So what you're saying is we should Do Away with the Stock Market and of course you as you must be aware that would be the END of Capitalism also...

Actually, I think that its kinda funny or ironic that all these rich people were taken by the same devices that they used on poor people in the real world...greed, secrecy, exclusion. Boy times are really getting tough when the rich are ripping each other off.

Do I feel sorry for these rich people who spoke of Madoff in the shadows? Not no, but Hell no. People were referred him, lets keep this to ourselves and don't tell anyone because if it gets out everyone will want in and we can't have the poor or second class citizens in this plan. Well you got busted with your sick little secrets, and your exclusionary taticts. You've lost millions that 95% of us will never see, and now you want me to feel sorry for you? ARE YOU OUT OF YOUR MIND? Go to the welfare office and apply for food stamps and welfare like the rest of us have to do when we fall on hard times, then you can look in the mirror and say "self you're a worthless slug," which is what you whispered, and privately said about us, the working poor.

Ocean front property in Arizona for sale, and I'll throw the Golden Gate in for free, but don't tell any one.

Dave, there are other ways far worse. Fact is though, it would be you or me paying for it with our souls and I'm not willing to do that, are you?

Actually Sygh...I agree with you. However your comment about paying with our souls is a bit incorrect. The Commandment never did state "thou shall not kill," rather it was "thou shall not do murder." BIG difference. Besides, I was advocating the STATE do it.

Public flogging comes to mind, wife included and associates.

Right on! This man should get the death, long with the rest of the corporate leaders of this country.

You mean BUSH and CHENEY ALSO???

Your absolutely right Rick. We as a nation need to get back to privitization of companies and leave Wall Street behind. Its nothing more than a parking place for money to be stolen by crooks. Once business is privatized, we can all get back to working for years at a living and having a more secure job with better salaries. Not cater to investors worried over how much their investments are not making and forcing us to loose our jobs and pile up more work on those whom are left. America is tired of supporting crooks on Wall Street. Thats all we've done for years and years and its got most of us NO WHERE! Only a FEW. Get a clue America.

I'm just glad I was busy working in my own business and not giving in to all that stuff.Either way I'll be broke when its time to retire. I'm not much on politics just hate to see just this guy getting put in jail without all the others that have supported this way for decades.

The biggest problems are the fact that laws are written that say that YOU as the consumer MUST ise a "broker" to trade/invest in the markets.

THAT's where your problems are!! You as a consumer place an order to buy a stock. Your broker takes the order and without giving a damn about you except for the commision you are going to pay, ROUTES the order to a MARKET MAKER like this MADOFF character to get FILLED.

MADOFF's company sends a confirmation back to the broker that your order has been filled, the broker deducts the money from your brokerage account and that is the end of what YOU know & see.

In the meantime Madoff in his greed, now had your money he has yet to pay to the company who sold the stock and in covering/hedging his bet that YOU will NOT make money, SELLS the company shares SHORT (he bets that the company will lose money) and BECAUSE he IS a Market Maker who controls MILLIONS of dollars at a TIME he can actually ALTER the DIRECTION of a stock's movement BY SELLING even MORE of the stock the company actually has ISSUED by continuing to SHORT SELL. This is called NAKED short selling (basically fictious shares).

It is like a "cancer" to a company. The SEC is nothing more than a "puppet" agency. They KNOW of ALL the CORRUPTION but they (for whatever reason) claim they are underpaid & understaffed to do their job. Another agency that is even more CORRUPT than the SEC is the DTCC (Depository Trust Clearing Corporation). These crooks are a "private" corporation and act as the ONLY "clearing house" (ever heard of a monopoly??) for all the stock certificates of every major company in america and they have been granted "IMMUNITY" from scrutiny by YOUR OWN CONGRESS & the SEC.

We "investors" who manage our own "personal" accounts are FORCED to abide by the rules and regulations of who will manage our account (brokers) deposits & portfolios but we also have the second by second electronic "TOOLS" just like the brokers do to watch the MOVEMENT of the market and WE investors can see the FLAGRANT "rule-breaking" on a daily basis but since we are the little guy and do NOT control as much money movement as a MADOFF, we are POWERLESS to stop the corruption and law breaking.

This is why I always post that you ALL are just seeing the "tip of the iceburg". OUR ENTIRE financial system needs to be re-regulated by people who are "honest" to the core and whom are willing to accept their jobs with "salary caps" and with NO INCENTIVE to be influenced by anyone to break the law for personal gain.

Until the system changes and you ALL demand 2 year term limits to politicians & maybe 5 year term limits for those people who carry badges & guns, the CORRUPTION is just going to go on and on EXCEPT this time, the crooks will devise newer & better ways to NOT get caught like Bernie did.

The ONLY safe place for your money is inside a sealed contained buried outside in the backyard by your favorite tree.

Nuff said...........

Pssst, hey Mike. Exactly which Tree is that in your backyard?

SS would work IF it would have stayed in the form it was meant to be. It was meant to provide income to the spouse (who didnt work) when the other kicked. Farmers were the original benificary of this program only becasue there were more of them back in the day. Today it has morphed into something that is totally out of control as far as handouts.

Well if your already sitting on a pile of cash that will last you till you die, do you really think that you NEED Social Security? It should be a system that you can opt out of when you reach a certain income bracket. Then if you didn't save for your security after that, its your own fault. One thing we don't need in this country is GREED hoarders in government taking from SS to pay for other crap. They need to pay the money back that it owes and keep their filthy hands off it so everyone can enjoy a wonderful retirement for a change.

Very estute observation Bob!

Folks:

Extended life spans are a major contributing factor to the failure of Social Security. In the past century this number has risen from around 47 years to over 78 years in the USA. Since the inception of Social Security it has risen by at least 15 years, and since the beginning of the 'baby boom' in the 50's it has risen by around 10 years.

It stands to reason that any formula of pay out based on actuarials will be somewhat skewed if any of the major variables change. If the system is based on money paid in total, less expenses to operate, (government employees), plus investment earned, (hah); to be divided by those that survive to retire, (since the average age is average this accounts for any early deaths); multiplied by their average age at death, less their retirement age; then if the expectation of getting older if higher, the formula will not work. I suspect that at the time these systems were constructed there was not a clue that folks would tend to live forever if you gave them money and health care, who could know!

Now if you include the rapidly growing population, (legal immigration and irresponsibly large families), into this, well then you have a big mess. (Of course illegal aliens paying into the system helps some since they can't get benefits, but we would need over 150 million of them to cover the existing problem, so this is no help).

So, by the time we realize that the money in this system has been systematically siphoned off for years to take care of other obligations, and then never repaid, I suppose you could say we should not be expecting the Social Security system to be secure or systematic for society.

If you are banking on this as part of your retirement plan, forget it unless you are getting paid right now. If I had to guess I would say this blows up in ten years or less.

Good Luck!

HAY , WAKE UP, the biggest ponzi is the government , they stole money from us tax payers and continue to do so -They took out of the SS fund all the money 3 times -. If they put it bback with interest there would be enough for 10 generations with out putting another penny in . this wasnt a loan it was theft HAY WAKE UP

Extended life spans are a major contributing factor to the failure of Social Security.

are you serious on that?? life span is to blame??? not the mismanagement of funds for decades by the government is to blame!?

shame on you americans for living too long!

Social Security was just fine until the Republicans started looting the fund.

End of story!

That is a lie. Both parties have looted SS for the last 40 years. You are a moron.

WELL Bob, if you don't want your Social Security I'll be thanking you in advance for signing it over to ME!

use the refresh button on the top of your browser,

When you click on the newsvine button you are taken to a new tab or page--just go back to the orginal tab or page (not page back but exit the comments page to return to the article.

Press the F-5 button / and or refresh at the top of the screen.

There's no good reason to have to come back with any haste, nothing of any real importance is ever said here anyway except by ME and a few others...

If u r using IE it will be two arrows in the form of a circle, I'm not sure on other browsers.

Press the F5 key too.