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OpEdNews Op Eds    H3'ed 3/16/09

Madoff Did Not Exactly Take It on the Chin Last Thursday

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Message Lawrence Velvel
 

Madoff claimed his Ponzi scheme had zip to do with his legitimate broker-dealer business.  The feds said it helped finance that business.  Once again, Judge Chin should have known that, if the feds were telling the truth, then Madoff was lying to his face.  Once again the Chin was oblivious.  It never even quivered.

 

So, if you ask me, the judge acted badly in accepting Madoff’s guilty plea.  He allowed Madoff to lie to his face and not to answer questions that cried out for answers. As well, by eliminating the possibility of a trial in which so much would come out, he potentially cloaked much or most of the facts in the non transparency for which the U.S. government and all its branches have been infamous since at least 1964, if not before.  Now what we shall learn -- and, maybe more importantly, what is kept from us -- is totally within the discretion of the government, rather than almost inevitably being exposed at a trial due to the exigencies of trial.  Bad.  All very bad -- unless one takes the position that what this country needs, and what Madoff’s victims need, is more secrecy, not less.*

 

This posting represents the personal views of Lawrence R. Velvel.  If you wish to comment on the post, on the general topic of the post, or on the comments of others, you can, if you wish, post your comment on my website, VelvelOnNationalAffairs.com.  All comments, of course, represent the views of their writers, not the views of Lawrence R. Velvel or of the Massachusetts School of Law.  If you wish your comment to remain private, you can email me at Velvel@VelvelOnNationalAffairs.com.   

VelvelOnNationalAffairs is now available as a podcast.  To subscribe please visit VelvelOnNationalAffairs.com, and click on the link on the top left corner of the page.   The podcasts can also be found on iTunes or at www.lrvelvel.libsyn.com 

 

In addition, one hour long television book shows, shown on Comcast, on which Dean Velvel, interviews an author, one hour long television panel shows, also shown on Comcast, on which other MSL personnel interview experts about important subjects, conferences on historical and other important subjects held at MSL, and an MSL journal of important issues called The Long Term View, can all be accessed on the internet, including by video and audio.  For TV shows go to: www.mslaw.edu/about_tv.htm; for conferences go to:  www.mslawevents.com; for The Long Term View go to: www.mslaw.edu/about­_LTV.htm.

   

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Lawrence R. Velvel is a cofounder and the Dean of the Massachusetts School of Law, and is the founder of the American College of History and Legal Studies.
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