Madoff Shouldn’t Go To Jail!

Much has been made of Bernie Madoff’s decision to plead guilty to his ponzii scheme.  But will he go to rich person jail or back home to his posh penthouse in Manhattan to learn his lesson.

America needs to get smarter with its corporate punishments.  Madoff isn’t a danger to society anymore;  he did his damage.  But there is something fundamentally not satisfying about sending this Wall Street Wacko to jail.

If I were the judge, I would make sure that Madoff became an example and that he learned his lesson in the limelight that he loves.   ‘Bernie’s Redemption Journey’ would follow Bernie Madoff as he lives a life of forced philanthropy that will take him to all the poorest places in America where he would do 8 hours of volunteer work a day in exchange for three hot meals, a shower, and a place to sleep.

Madoff would do be forced to do the tough jobs that real people do and rarely receive recognition or compensation for.  Every 6 months his mission would change and he’d have to adapt to the new set of conditions and hope that Americans far removed from yachts and diamonds would welcome a fraud.

After five years, Madoff would be subjected to a live parole hearing online conducted and decided by a random lottery of citizens across America.

THE RULES OF THE PUNISHMENT

--The production crew will not interact with Madoff.  They’re the not-so-secret camera.  Likewise Bernie will never be given the opportunity to address the camera.  His interaction will simply the people approved as part of his current six month mission.

--Everything he needs, he must pay for in his service to others.  He shall have no access to cash, credit, or a banking account.

--The costs of Madof'f’s sentence would be paid by advertisers instead of taxpayers.  The cable or network home of the show will also be responsible for the upstart costs America’s economic education initiative and interactive classroom after the show achieves a minimum rating to-be-decided.

--If Madoff is granted parole, he would be moved to a court approved apartment in an undisclosed location where he will be given a certain monthly allowance that will meet his living expenses and a health insurance policy from a fund established using profits from his show. 

--He will be forbidden to interact with any sort of financial sector business for the rest of his life.  If efforts to do so are revealed he will be exiled to China.

So this may be a little ridiculous.  But its economically sound.  Who wouldn’t want to watch the old man serve someone other than himself the next few years.?

I would let his current wife (if there is one) keep her clothes and shoes and give her the option of ‘til death.  Mr. Madoff would be permitted would be seized and liquidated.  Some of this would go into an emergency mutual fund to assist those experience real effects  as a result of Madoff’s scheme (retirees, for example).

I let Mr. Madoff pack one suitcase that would consist only of clothing and put him on a plane