Madoff Barred From Working In Securities

Federal regulators have reached a settlement with disgraced money manager Bernard Madoff that prohibits him from working in the securities industry.

The Securities and Exchange Commission said it accepted Madoff's settlement offer to be barred from association with any brokerage or investment firm. The deal doesn't include any monetary penalties.

Madoff has been jailed since March when he entered a guilty plea to defrauding thousands of investors who lost billions of dollars. He faces up to 150 years in prison, and is scheduled to be sentenced on June 29 in U.S. District Court in Manhattan.

[ABM_21]

Lemme see...now, if this guy gets 150 yrs in prison---which is still not enough prison time---why does it matter that he has been banned from working in securities? If he serves just a portion of that sentence, he won't be working for anybody anytime soon. A better penalty would have been to make him give back all the money he's stolen over the years...

[popeye_1]

If the rat is released from jail, the investors will take law into their own hands "Murder on Park ave" coming soon in theaters near you...

[ABM_21]

If the authorities are stupid enough to release this clown, his blood will be on their hands...

[YCantWeAllGetAlong]

"Madoff Barred From Working In Securities" Wow, no way? You'd think with all his money and power that he'd already be working on the next Ponzi scheme, fattening his buddies' wallets. For those who couldn't make it to the last paragraph of this lengthy three paragraph story, he is being sentenced June 29th and is facing 150 years in prison. For those who were burned by this idiot, it seems that the rich win...again. Maybe they can sue his wife? She's living the life of luxury and NO ONE can tell me she didn't know everything that was going on!

[mommcgrath]

Ah, ya think?

[naj1953]

what a justice system we have. The rich and greedy always get off..

[ksmit2]

Considering that the guy will either kill himself, or go to prison forever,
this new edict is indeed a joke in itself.Where were these "Great Guardians
of the Force" when this guy was reported as a ripoff almost ten years
before they finally did something? Great job you "do nothings". It reminds
me of the folks at INS who granted visas to some of the terrorists on
9/11, even after they had been identified in the news as having died
while perpetrating the attacks on our country. Great Job everybody!

[kipandpipsgran]

Shouldn't Madoff be making license plates or something useful?

[riob678]

The SEC said it was accepting Madoff's settlement offer. Since when do convicted criminals make settlement offers to regulatory agencies? The SEC is obviously captured and being held hostage by the very people they are charged with regulating. Dump the entire Commission, and then formulate an effective regulatory agency free from financial influence.

[PacificGatePost]

<a href="http://pacificgatepost.blogspot.com/2009/03/deal-to-make-with-madoff.html" target='_blank'>THE DEAL TO MAKE WITH MADOFF . . . .</a>

[PacificGatePost]

The Judicial system is missing the boat on this one. There is a deal that should be made with Madoff.

Make Madoff a deal he will not refuse.

http://pacificgatepost.blogspot.com/2009/03/deal-to-make-with-madoff.html

The objective is NOT revenge, but Restitution and Reconstruction.