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...federal courtroom erupted in shrieks and loud applause as Judge Denny Chin sentenced disgraced financier Bernard Madoff to 150 years in prison on Monday. In his decision, the judge dismissed Madoff's lawyer's plea for a lighter sentence of 12 years and disputed suggestions that the victims in the fraud were seeking mob vengeance. "The fraud here was staggering" and losses from the scam "off the chart," he said, justifying a sentence that sends a message...

Author: /time Magazine | Title: The Penalty for 'Extraordinary Evil': Madoff Gets 150 Years | 6/29/2009 | See Source »

...victims came from all walks of life, and many were "ordinary people who worked hard to save their money and thought it was safe," Chin said. The judge added that he was particularly moved by one victim's statement that described how Madoff assured a woman, whose husband had recently died, that her money was safe and encouraged her to invest more within weeks of the scandal being exposed, even though he knew it was all a fraud. The woman's money is now gone and her home had to be sold, Chin said. (See pictures of the demise...

Author: /time Magazine | Title: The Penalty for 'Extraordinary Evil': Madoff Gets 150 Years | 6/29/2009 | See Source »

...Madoff's Ponzi scheme was an "extraordinary evil" - "not a bloodless crime," as the defense was trying to suggest, Chin said. He added that Madoff had not been forthcoming in helping authorities locate missing assets. "[Madoff] has not been helpful and not done all that he could or told all that he knows...

Author: /time Magazine | Title: The Penalty for 'Extraordinary Evil': Madoff Gets 150 Years | 6/29/2009 | See Source »

...Judge Chin did not direct Madoff to a particular prison, though it is possible that he will be sent to a maximum-security facility like the federal prison in Marion, Ill. Though Madoff, at 71, is not a dangerous felon, his risk of flight is high, given his effective life sentence. A harsh maximum-security facility may also be an indirect way to pressure Madoff to cooperate and earn his way to a more lax prison...

Author: /time Magazine | Title: The Penalty for 'Extraordinary Evil': Madoff Gets 150 Years | 6/29/2009 | See Source »

...people who are skeptical of Michael Cera, who think he has been playing very slight variations on himself since his Arrested Development days. In Juno he was the affable guy with the earnest delivery, who came across as self-effacing, but also so utterly unperturbed by his own absent chin that he somehow became plausible as a romantic lead. In Nick and Norah's Infinite Playlist, the apparently innate peevishness, a whine that pays homage to the hunting mosquito, which had worked so well in Superbad, had begun to grate, but it was still clear that the movie would have...

Author: /time Magazine | Title: Year One: Jokes from the Stone Age | 6/18/2009 | See Source »

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