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SUNDAY, NOVEMBER 8, 2009
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 OPINION 
24

Madoff Sentence a Massive Waste: Alec Baldwin

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(Newser) – Alec Baldwin throws water on the general celebration of Bernie Madoff's prison sentence, arguing that the 150-year term handed down to the fraudster Monday was a wasted opportunity. "I want to suggest, as I am confident others have, that Madoff be given a reduced sentence in exchange for answering every question that investigators ask regarding how he did what he did and what are his recommendations for how this might be detected and/or prevented in the future," the actor writes for the Huffington Post.

One has to assume Madoff was given no shortage of opportunities to come clean in exchange for leniency, but still, Baldwin notes that the sentence doesn't help the victims. Who does it help? "The incompetents at the SEC who stood by and allowed this to happen." The sentence, he notes, means Madoff will never become a 21st-century Frank Abagnale, the '60s con man—of Catch Me If You Can fame—who eventually became a security consultant for the likes of the FBI.

In this March 12, 2009 file photo, Bernard Madoff arrives at Manhattan federal court in New York.
In this March 12, 2009 file photo, Bernard Madoff arrives at Manhattan federal court in New York.   (AP Photo/ Louis Lanzano, file)
In this March 10, 2009 file photo, Bernard Madoff exits Manhattan federal court.
In this March 10, 2009 file photo, Bernard Madoff exits Manhattan federal court.   (AP Photo/ Louis Lanzano, file)
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24 comments
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Reader64481089
Jul 1, 09 12:31 PM CDT
"The incompetents at the SEC who stood by and allowed this to happen." Yes indeed they blew it years ago when problems were first reported and ignored by the heads of the departments this is true. Each of them bears guilt for the continued scamming of innocent people also. Reply
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Newser001
Jul 1, 09 12:33 PM CDT
Baldwin, since when did you become a financial expert (Glengarry Glen Ross)?!! You think offers weren't on the table? They got absolutely nothing from him. Therefore, he got what he exactly what he deserved; 20 or 150 years, it doesn't matter - Its a life sentence. Asking for 12 years (out in 8) for what he did, ludicrous! Forensic investigations will play things out, as much as they can, all in due course. There's far too much money is missing, unaccountable. Perhaps rotting in jail will loosen is lips, refresh his memory... Reply
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IN RESPONSE:
Yourself
Jul 1, 09 12:52 PM CDT
how do you know offers were on the table? and he was asking for 12 years cause of his age saying that he'd have long enough to learn from his mistakes in 12 years, that was a joke at best. Baldwin has a great point in what he's saying, unforunately you sound like you're coming up with a lot of assumptions.
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IN RESPONSE:
Yourself
Jul 1, 09 12:54 PM CDT
oops, didn't mean to post right away... i was going to add that assuming there is a paper trail is a horrible assumption. So far there seems to have been little to no paper trail. What they have found so far was a LOT of fraudulent information and falsefied documents. all that does is lead investigators in circles. Kinda like the 3-4 years of IDENTICAL tax returns. That should have been the IRS's first sign that something suspicious was going on.
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IN RESPONSE:
Newser001
Jul 1, 09 1:24 PM CDT
I feel fairly confident, the DA played every card in an attempt to flush out coconspirators, where the missing money is. There were plenty affluent people who called in the chit's on this matter. Short of torturing him, there obviously isn't much they can really do to the man to get answers. But I remind you, people committed suicide because of this (S)chiester - Do their lives and the lives of other's mean nothing...? A sucker is born everyday, but that still doesn't make it right.
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