Madoff Deserves Jail

One of the main reasons that capital flees a country is Rule of Law.  When investment capital believes that there is no Rule of Law, it moves to other environments where laws better protect investments.  $50bb - BILLION dollars was just lost.  Numerous investors were penalized and hurt as a result of the fraud that Madoff perpetrated.  How can an individual that just lost $50bb of client assets be permitted to operate from the confines of his apartment in downtown New York and not the cold sweaty confines of a jail cell? Only in America.

There are two sets of laws in this country.  One set for the wealthy and another set for everyone else.  If Madoff’s bail is not revoked, we will witness angry people becoming more critical of our laws and judicial process.  Madoff had $170mm of checks, written, ready to go out the door.

He violated his bail.  He needs to be put into a jail cell - confined and monitored.  Certain media outlets are claiming that the government needs to keep him happy to gain his cooperation.  The US government will not negotiate with terrorists; however, they will negotiate with Madoff, a financial terrorist. That whooshing sound is the sound of capital fleeing the country. I can hear it…WHOOOOOOSH. Gone for good.

Posted in Categories: Contributor, Economy, External Research, UK, USA.

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