Amazingly, The American Lawyer is asking if it would be okay to apply the death penalty to Bernie Madoff.
The enormous fraud perpetrated by Bernard Madoff has some U.S. commentators wondering if the biggest white-collar criminals deserve the same punishments as murderers, even the death penalty. China, where financial fraudsters routinely are executed, is frequently cited approvingly.
Now, I’ve taken a look for these “frequent” citations, and the only mainstream media mention seems to be Boston Globe. I’m a huge fan of the (pardon the expression) blogosphere, being a member of that rare species, the full-time paid professional blogger. But this seems to be a perfect example of what the Web’s critics call the “echo chamber” — bloggers saying “others are saying…” while only quoting other bloggers who say “others are saying….” (Google “Madoff Death Penalty” to see for yourself.)
People are understandably angry at Madoff, even suggesting, according to the Globe, that he (and his entire family, who, as far as I can tell, have committed no crime) should be forced to live in poverty. Would this be justice? Sounds like revenge. And billions of people live in poverty — what’s their crime?
People are mad about Madoff, but they’re angry at the wrong person. There will always be evil people. The problem was not that Madoff exists, but that Madoff’s job exists. No unelected person should be allowed to control $50 billion in our nation’s resources without vigorous oversight. Hell, no elected person, either. No one person should ever have that much power in a democratic society. Ever.
But 99% of the people now furious at Madoff don’t think that way, because they drank the Free Market Capitalism Kool-Aid. Suggest that people like Madoff shouldn’t exist, and you’re a freedom-hating, Pacifica Radio-listening, Chomsky-reading, beret-wearing, green-tea-drinking, Whole-Foods-shopping, terrorist-loving, far-left liberal hippie.
So nothing will change. Barack Obama, a committed Capitalist often mistaken for a Socialist, will slap a New-Deal band-aid on the problem. Then in 20 years, deregulation will return full force. And after that, another meltdown.
Will murdering Madoff fix that?
The death penalty is always wrong, not because some people don’t deserve to die, but because the government should not have the power to kill them. If you support executions, then ask yourself why your ideological allies are always nations like China which, in its eager transition from Communism (totalitarian Socialism) to Fascism (totalitarian Capitalism), executes its financial criminals.
China’s policies may decrease the number of financial miscreants. (Although I doubt the threat of death would have stopped Madoff, whose ego is so huge he may be exaggerating the extent of his own crimes just to seem important.) But they won’t change the fundamental corruption of the Chinese government.
Likewise, executions wouldn’t fix our problems either. Real change can only happen when Americans realize that Capitalism is not a religion, nor a panacaea, nor an integral component of democracy. It’s just an economic theory. One that’s fundamentally broken.
If you can’t see that, then you’re as bad as Madoff — if you’re not part of the solution, you’re part of the problem. This is a genuine democracy, and the people get what they want — and deserve.
The question is, if you’re as responsible for this crime as Madoff, then do you deserve to die?
— Erik Even
As long as they torture him first, I have no problem with his execution. Anyone know how much they pay the ‘executioners’ who get the gas going or flip the switch or whatever? I could use some part time work in this rough economy…which ironically enough, was in large part the fault of Bernie and others like him. Is it true that the Russian mafia has a hit out on him for squandering their assets? That would be the best way to get rid of him. It’d be a public service, actually.
Kill Madoff. Kill anyone that has too much money. I hate everyone. You should all die. Give the poor people your money and die.
Wake up, in the USA nobody gets killed for something they’ve done unless it’s the state that does the killing. How many cases of vigilantism have you read? Very very few… the USA is a breeding ground for people who allow themselves to be stepped on.
Sounds good to me, in fact EVERY white collar crime should carry a mandatory life sentence as a minimum.
Erik Even is yet another fool that will soon be parted from all that is dear to him. Killing is wrong unless the right people are being killed. In all seriousness Madoff and his elitist family should be left with nothing so they can start over – which is entirely possible in the US. It should only take them 18 months or so to screw Erik and others like him out of another 50 billion. Do the right thing and take the Madoff clan out of the gene pool.
KILL this rotten SOB-he destroyed the lives of many people & should be executed by his victims & done live on a pay per view tv network just as shown on the movie death race & money that they benefit from the event be given back to the victims
By blaming Madoff for this, and not the system that allowed it, nothing will ever change or improve.
In a democracy, no one individual, elected or unelected, should ever have so much power, especially without oversight. What sort of an insane system lets one man control $50 billion?
You said: “People are understandably angry … suggesting … that he (and his entire family, who, as far as I can tell, have committed no crime) should be forced to live in poverty. Would this be justice? Sounds like revenge. And billions of people live in poverty — what’s their crime?”
Poverty is indeed not a punishment. Forcing Madoff into poverty to compensate his victims is not a punishment, it is restitution. THAT is justice.
I am 100% anti death penalty and do not think that it is justified under any circumstances. I do believe very strongly however that the sort of crimes that Madoff has committed warrant the same magnitude of punishment meted out to murderers and rapists.
What is wrong with you people? I think Bernie pulled off one of the greatest coups in financial history, and I only wish I had the imagination and knowledge to do the same. In a New York minute. He screwed all the smug “insiders” and did it with a smile. For their ignorance and greed they deserve to lose their money.
The only thing different I would have done is to quietly leave the country with my stash, after first having made arrangements with the apprpriately friendly foreign government. Then I would have sat back and watched the feces hit the blades and laughed my ass off.
Hey, it’s only money.
Despite not being a a “freedom-hating, Pacifica Radio-listening, Chomsky-reading, beret-wearing, green-tea-drinking, Whole-Foods-shopping, terrorist-loving, far-left liberal hippie” I absolutely believe that free-market greed must be curbed. Every time we get one of those Republican presidents who wants to deregulate everything we get problems – Savings and loan crisis, skyrocketing gas prices, the current debacle. There is nothing wrong with rules; the rest of us have to live with them.
A Michigan Attorney
What is wrong with you people? I think Bernie pulled off one of the greatest coups in financial history, and I only wish I had the imagination and knowledge to do the same. In a New York minute. He screwed all the smug “insiders” and did it with a smile. For their ignorance and greed they deserve to lose their money.
The only thing different I would have done is to quietly leave the country with my stash, after first having made arrangements with the apprpriately friendly foreign government. Then I would have sat back and watched the feces hit the blades and laughed my ass off.
Hey, it’s only money.
Uhhh, how about the blue collar workers who had their retirement and life savings squandered so that one greedy bastard and his family could live so lavishly? The fact that you even said that makes me realize how fucked up things are right now. You are a massive tool who should be strung up in a town square and beaten with bloody tampons. And then after that, cut your dick and balls off and have them fed to you while you watch someone you love get their throat cut. Fucking moron prick, I hope your kids have autism.
The writer misses the point. It is not about what he controlled or how the investors should have been more diligent. It is about someone who did something wrong that he knew was wrong, that he knew was against the law, that he knew would come crashing down some day. That is the only thing worth discussing. For that crime and the damage done to others, he should have been put to death, preferably by a public stoning. Such an execution sends the right message to others contemplating a similar crime.
What are you, a Saudi prince?
He got the punishment he deserved — life in prison. And if you’re still bloodthirsty, let me assure you – prison life will shorten his lifespan considerably.