Convicted Ponzi schemer, Bernie Madoff, is in the news again. The 71-year-old fraudulent "wealth manager" has served one year of his life sentence in a prison filled with robbers, fellow scam artists, and drug dealers. News sources are reporting on his lack of remorse and a comment he made reflecting on his apathy toward his victims. This does not surprise me at all. A 71-year-old who appeared to have entered the system with no conscience and is now serving a life sentence would probably have the least motivation towards achievement and rehabilitation.
What gets me is that he who absolutely robbed people of an estimated $ 65 billion dollars including liquid assets, interest, etc. is actually making a wage during his incarceration! Madoff sweeps floors in his prison facility for a whopping $ 0.14 an hour. That only amounts to a couple hundred dollars a year, but it shocks me.
Perhaps this is more of an ethical issue than a legal one, but why would a criminal, particularly a macro-fraudulent one, as it were, be entitled to money?
It seems that things are set up in his prison like a token economy, a system usually used with recovering addicts to prove themselves as productive members of society who are ready to transition back into a better life. Of what use would such a system be to an older man serving a life sentence?
New Fact: Even notorious prison inmates such as Bernie Madoff are owed to earn money in prison. They are able to use the money in prison to purchase necessary items like food.