Bernie Madoff Sentenced

A 70 year old Bernard Madoff will live in his new home the size of a small walk in closet. A man accustomed to the finest life has to offer will be giving up his $7.5 million dollar E. Manhattan penthouse. Now he will reside in a jail cell and presumably in prison at a later time. His lawyer had the nerve to ask the judge to let him continue to live at home under house arrest as the courtroom burst into laughter. The man took billions of dollars from people and left some broke and unsure of their futures. Some were ready for retirement or counting on their investment to retire later. Many people want his neck, and I believe rightfully so!

He was once the chairman of the NASDAQ Exchange! If you cant trust him, who can you trust? He offered his apology- " I am deeply sorry and ashamed". He went on to say that he was the sole person responsible for this mess. People question that and want whoever else that might be involved to have their day in court. People from Steven Spielberg and Kevin Bacon to Florida retirees and many Jewish(trusted Bernie because he was Jewish) lost money!The scheme wiped out people's life savings, ruined charities and foundations, and apparently pushed at least two investors to commit suicide. Someone suggested jail wasn't punishment enough and that he should be stoned to death! I don't know much, and I was hoping maybe you would be able to help comment on what lesson we could take from this! The one lesson I see is that you have to diversify your portfolio and not have all your money sunk into one area. And one day when I have money, I will remember that!