The day you’ve been waiting for: The Madoff sentencing


Here’s the news story from the NY Times.

Looks like prosecutors set the over/under for jail term at 150 years.

And from the AP via the Boston Globe Madoff will get one last perk before heading to the slammer presumably fo good:

NEW YORK – Bernard Madoff will get one last creature comfort before he is sentenced today, probably to spend the rest of his days in prison. The judge has given him permission to don his own clothes for the hearing.

Jack Cutter is wearing something special, too, these days: a butcher’s smock. The 80-year-old from Longmont, Colo., had to go back to work after he lost his retirement savings in Madoff’s swindle. He used to be a petroleum engineer. Now he spends his weekdays at a Safeway supermarket. The gig pays $8.64 per hour.

“It’s a tough job,’’ he said. “Eight hours on my feet.’’ Madoff’s fraud wiped out thousands of people around the globe. Not all were millionaires. Teachers, farmers, mechanics, and other middle-class folk are among the victims. Many had been enjoying retirement. Now, with nest eggs gone, they are struggling to pay the bills.

Reuters has live coverage.

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