Fines and restitution to the point of penury followed by strict government supervision to avoid recidivism is the answer.

Like Skilling, Ebbers and Rigas, Madoff ripped off thousands of people.  Would there be similar calls for compassion for a 19 year old black man who had burglarized a thousand different homes?  Of course not.

I earnestly hope that Bernie Madoff rots in his cell, both in this world and beyond, for eternity. Aloha.

Madoff has destroyed the lives of thousands of people just as surely as if he had taken out a gun and shot them.

Just because someone literally destroys your means of life with a pen and paper, does not make you any less destitute.

Madoff's victims include aged pensioners, as well as numerous charities.  People who are now no longer able to recover from his crime.

We put way too many people in prison.  

White collar offenders can be punished by taking away all their money and making them work for minimum wage by performing community service for the length of the sentence:  1 yr, 2yrs, life, etc.

What about this?:
"Chin said he was especially moved by a letter he got describing how Madoff conned an 86-year-old widow by putting his arm around her "and in a kindly manner told her not to worry, that the money is safe with me."

Let us remember that Madoff was a former CHAIRMAN of the NASDAQ! That carries some weight. That implies the supervision of governmental agencies. It's not the normal con where the victim knowingly goes along with something that he/she has reason to believe might be illegal.

I don't understand the idea behind identifying someone like Madoff as a "white collar" criminal. The only difference would appear to be the lack of use of a deadly weapon. But what kind of sentence would a minority person, even using a toy pistol, get for holding up a local store - or a bank? Multiply that by the number of incidences of theft perpetrated by Madoff.

It's almost as if some feel that the enormity of what Madoff did entitles him to some kind of special consideration. Like dropping the bomb on a populated city is judged differently than one individual shooting another.

This guy did not steal money from me.
But I know how I would feel if all of my savings were to have been taken from me and my family would have no means of support. It could feel like a death sentence. As you know, some of the victims of the former NASDAQ chief killed themselves.

In additon, just like the death penalty, these huge sentences don't seem to be much of a deterrent to others.

for messrs madoff and skilling. ken lay had the decency to die, before sentence was passed, sparing us all a lot of wailing, keening and beating of breasts.

mr. madoff and his family lived high (ginormously so!) on the hog, for 30 odd years, on other people's money, money that will never, ever be returned to them. did i mention it will never, ever be returned to them?

is 150 years reasonable, or even realistic? of course not, it's merely a bargaining chip, to get to what they can sell the victims as justice done. i just don't see argentina weeping for this evita.

In fact, as I wrote at the time, I don't even get why Madoff pleaded guilty.