Bernard Madoff's 150-year prison sentence has sparked some debate as to whether the sentence is fair. Many of Madoff's victims cheered the federal judge's sentence for orchestrating what Madoff said a $50 billion Ponzi scheme that hurt scores of investors. Madoff's attorney Ira Sorkin called the sentence "absurd." Sorkin said: "My reaction is the justice system is not based on vengeance and it's not built on symbolism...150 years is absurd under the guidelines under the sentencing statutes."
The Inquirer editorial today said the sentence fit the crime, which was massive and went on for years.
Daily News columnist Elmer Smith says Madoff got off easy. He said prosecutors should have pressed him to cooperate and give up others who may have played a role in the scheme. Indeed, prosecutors will often work out plea deals with low-level conspirators in order to get to the big fish, but in this case Madoff was the top man. Smith raises an interesting point that perhaps the feds don't want Madoff's help in determining why the SEC failed to investigate allegations of the Ponzi scheme that date back years.
Meanwhile, the Associated Press is reporting that prosecutors may charge 10 others linked to the scheme.