July 02, 2009

Should there be an automatic sentence of the co-responsible?

Sir John Gapper is right when describing the sentencing of Bernard Madoff as “both necessary and rare” July 2. That said justice was not totally served. Had there not been a SEC you can be sure that the people who lost their money with Madoff might have lost even more money, in many other ways, but would certainly not have lost that same way with Madoff. Therefore perhaps all regulators involved should receive an automatic sentence for co-responsibility. One percent? One and a half years?