As to the senior Mr. Madoff, all I have to say is "$200 mittens"?

Who pays $200 for mittens?
What are these precious $200 mittens made of?  
What could they be made of, such that they cost $200?

I have sincere doubts as to there being any - Any - sympathy available to Mr. Madoff.  He won't be getting any from me.  Outside of my fixed costs for mortgage, phone, heat, light, and car gas I can make it the better part of a month - food, incidentals and the little things that chew up cash in $2, $5 and $10 increments - on the $200 he spent on mittens.

Now everyone is outraged??  

The first to be compensated should be the philanthropies who lost money.  Only then should everyone else line up.  

There is no way 50 million can just disappear.  The money had to have been put somewhere.  I do understand that long time clients were paid the 10% per year on their investments and got income to which they probably were not entitled.  I say disgorge them of those profits.  Follow the money.    

or something to that effect.

wasn't there one these clowns (an enron biggie, i think) who had a 5 or 6K shower curtain? not that it makes all that much difference, but by comparison, $200 mittens is chump change.

even were the gov't to locate every asset of the madoff entity, it won't come to anywhere near the 50 billion. bear in mind, some of that was actually paid to earlier investors (at 10%, that's a healthy chunk right there), some was paid out to investors who cashed out, much was spent on non-capital expenditures (food, travel, etc), that's just gone.

the 50 billion is a tad misleading, it reflects the totality of investments made, over a 40 year period, not what's actually possibly still around.

It's clear that he subsidized his lifestyle and that of his family on the backs of those who invested with him.  It's easy to be unsympathetic to the more wealthy investors, but the bundled smaller investors like charities certainly should be outraged at this behavior.

I am concerned that the judge in the case has not deprived him of his liberty at this time.  There's enough evidence to convince just about anyone that the guy is a flight risk and that he's almost certainly hidden assets.  I think it's critical that he be denied access to communications devices, internet, etc until forensic accountants can make a dent.  

The case says a great deal about the failure of the SEC to investigate; clearly the "summary judgement" test was a failed policy of that agency.  It also says a lot about greed and the culture of investment in America.  His was among the least transparent funds I ever saw.  How anyone could commit monies to such an opaque scheme is beyond me.