David M. Russell

Madoff a hero?

In Commentary on July 3, 2009 at 10:52 pm

Swindler and fraudster, Bernard Madoff, has been a given a 150 year jail term. Gee, that’ll help his victims a lot. Yeah, right! Madoff will lose his luxury lifestyle but he’ll still enjoy a reasonable quality of life (sure, not ideal, but way better than sleeping rough in some park, eh?). Wouldn’t it be better to make him work in a homeless shelter (still locked-up at night) or some similar form of community service? Let him work off his evil deeds.

Then again, (now this IS tongue-in-cheek) we could call Madoff a hero. Have I lost my sense? Nah. But consider it this way: Madoff has served a useful purpose. He has forced millions of people to realise that if it seems too good to be true, then quite likely it really is too good to be true.

Sadly, society appears to have lost sight of moderation. Investors fell over themselves to secure rates of return from Madoff that appeared outrageously good. But they let greed switch-off their commonsense and threw their money at him. Haven’t they paid a terrible price? But it’s a basic lesson that should never be ignored. If it seems too good to be true, be very bloody careful. Of, unlike Madoff, you might end up on a park bench and without access to a roof over your head or three meals a day.

  1. Hmm. Is it true? 🙂

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