Do you know what Bernie Madoff really did? He ran a Ponzi scheme. Ponzi was a guy who pretended to invest money for people, but in reality he was just keeping it for himself. That is what Madoff was doing. I assume he was sending a lot of that money to offshore accounts that are well hidden, so his wife and family will be filthy rich even if all their visible money is taken from them.

Let's say I promised to give you 40% profit on your investment. You give me $1,000. A year later I give you back $1,400. There - you made your 40% profit. You're happy and you will probably send me $5,000 pretty soon, expecting to make a huge profit on it, and you'll tell your close friends and family to send me money.

How was I able to give you $1,400? Because tons of other people have been sending me money. It's no problem for me to give you $1,400. I'm swimming in money. I haven't invested any of it. I just put it all in my own account. Happy to share it with you, sucker. For a while. Get you to trust me and give me more. Like a pool shark. Lose a little money, gain your trust, then take the shirt off your back.

Send you nice little statements that show that you are continuing to make 40% on your investment. The statements are bullshit. I'm just keeping your money. I haven't invested it in anything at all. Your money hasn't earned a dime for you, I'm just sending you phony statements.

After a while I have accumulated a billion dollars. Then guess what. I stop giving people any money back. Fuck em. I'm done. Hide it all in offshore accounts as much as possible. I win, you lose.

You all thought I was this economic genius who could turn a 40% profit in a shitty economy. You thought I was so special and so smart, and you were lucky to know me. Fact is, I'm just a bullshit artist and thief.

So that's a Ponzi scheme, and that's what Bernie Madoff did. What is the right punishment for him?

Since he committed a money crime, all his money should be taken away. Same for his partners. All their money should be taken away. Everyone who was in on it with him, all their money should be taken away. Take their homes, their cars, their jewelry, their everything. Take their clothes. Take their socks. Take their paper clips and rubber bands. Take everything from them.

Until such time as they repay every single person they robbed, fully, they are not allowed any possessions at all. Nothing. After you take everything they own, leaving them homeless and penniless, if they ever succeed in repaying every dime they stole, they can then begin to keep the money they earn. Until then, no. And how the hell are they going to repay anything? Maybe by digging into those offshore accounts?

Throw them out of their homes. Force them to live homeless on the street. Force them to eat the cheapest crap. Keep your eye on them all. I wouldn't send Madoff to prison. I'd sentence him to a life of homelessness and poverty. Let him get his meals like raccoons and rats, by sifting through garbage.