If there's one thing I like, it's a media circus. It brings out the competitive spirit in me. I thrive on trying to get the exclusive interview, the best seat in the courthouse, and the best video.
I arrived at the courthouse where Bernard Madoff would be sentenced a little after 7 a.m. yesterday. I was pleased to see our cameraman James Roldan and intern Jeff Masino. Both had arrived there at the crack of dawn to stake out a prime shooting spot. Our field producer Althea Thompson and intern KyuYeon Ha were already in line, waiting to get into the courthouse. We waited in various lines for 2.5 hours before being permitted to enter the courtroom.
A big challenge of covering federal court proceedings is that no recording devices are allowed in the courtroom. That means I can tell you the words that were said, but not the body language or tone that convey real meaning.
After hearing Madoff's testimony, I was personally skeptical about his feelings of remorse. He cleared his throat frequently, showing his discomfort with the situation. I found his 5 minute speech fairly monotone. He also referred to his crime as "a mistake", "a problem" and "an error in judgment" -- gross understatements, to be sure.
At one point, Madoff turned to victims in the first row and said, "I'm sorry. I know that doesn't help you." To me, it seemed choreographed. I also figure that if Madoff was truly sorry, he would have been of better assistance to the government in recovering missing funds. He would have also provided more details about how the scheme was carried out.
The court was not sent a single letter from friends or family testifying to Madoff's good deeds. Even his wife Ruth -- who has stood by him in this ordeal -- did not write a letter.
What do you think of Madoff's sentence? Some lawyers think it's harsh relative to other big name fraudsters like Bernie Ebbers of Worldcom, who got 25 years. Enron's Jeffrey Skilling got 24 years. Do you think 150 years is fair?
Comments
The most Diabolical Frame Jobie in the history of jurisprudence©
Face facts, folks! He will be safer where he is now. Uncanny how it all came out in the end so perfectly for his charmed life.
I personally would have preferred 5 years in Gitmo with waterboarding once a week, every week. Then we'd find out who was in it with him.
What I'm wondering is whether 150 years is disproportionate relative to what other white collar criminals received. Clearly, it's symbolic.
The sentence could be 150 years or 500 years; it doesn't matter. Madoff won. Think about it...he had 40 years where he lived better than royalty on an average of over $1 Billion per year. He basically traded whatever years he has left---and at 71 there probably aren't that many and they're probably not all that good---for 40 years of opulence. Putting conscience aside for a minute, ask any number of 30 year olds if they'd take $1 Billion a year for 40 years knowing that at age 71 they'd go to jail for the rest of their lives. I think you'd be surprised at the answer.