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...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 »

...When the time came for Madoff to speak, he nervously sipped from a cup of water as he expressed regret for his crime. "Apologizing and saying I'm sorry is not enough," he said. "I feel terrible," he continued, adding that he was tormented every day by the "pain and suffering" he caused his victims. The only time Madoff turned to the victims was for a brief five-second period during his statement, as he offered them a direct apology. Victims later said this brief gesture meant nothing to them. Outside the courthouse hundreds of people, including many victims...

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

Following the sentencing, Madoff's wife Ruth issued a statement. "I am breaking my silence now because my reluctance to speak has been interpreted as indifference or lack of sympathy for the victims of my husband Bernie's crime, which is exactly the opposite of the truth," she said. "Many of my husband's investors were my close friends and family," she said. "And in the days since December, I have read, with immense pain, the wrenching stories of people whose life savings have evaporated because of his crime...

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

...were looking for a "type of mob vengeance" that would "render meaningless the role of the Court." Sorkin cited "death threats and anti-Semitic e-mails" as evidence of the hysteria and urged the judge to "set aside emotion and hysteria" and hand down a sentence "proportionate" to the crime. (Read about the Curious Capitalist's meeting with Bernard Madoff: "It wasn't memorable...

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

...street riots and demonstrations across the country, the Islamic republic pronounced its harshest threat yet to protesters. At the official ceremony for Friday prayers, Ayatullah Ahmad Khatami, a hard-line cleric who often delivers the sermon, said those who agitate on the streets were "waging war against God," a crime that carries the death sentence. (See TIME's photos of Iran protests around the world...

Author: /time Magazine | Title: Which State Security Branch Rules Tehran's Streets? | 6/28/2009 | See Source »

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