After pleading guilty to the largest fraud in history earlier this week, Bernard Madoff now wants bail before his sentence is pronounced. He is almost certainly out of luck. US judges are not known for compassion. After all, justice delayed is justice denied.
His forlorn attempt at evading prison was eclipsed by the revelation that he and his wife have assets amounting to $823m and $826m (£589m to £591m). This handsome accumulation of wealth includes four homes, four boats, and a share in a private jet. Moreover, their lifestyle demanded a monthly budget $346,757.
Roughly speaking, that monthly budget compares to about 10 years of the per capita income here in the UK. How did we end up in a world like this, where one corrupt individual spends in one month, what another person earns during a third of their working life?
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