Unions that lost money react to Madoff sentence

Jun 30, 2009 17 related
 

SYRACUSE -- Of the $50 billion Bernard Madoff bilked from his investors, it's estimated up to $150 million came from Syracuse's Local 747 carpenter's union. Richard Hibbard has worked for the local 747 for five years. As he prepares to retire in the next few, he's relieved Madoff is sentenced to 150 years behind bars, but because Hibbard may soon find out how badly he's affected by the Ponzi Scheme, the news is bittersweet. Hibbard says, "If you are truly sorry, there should be some real retribution, and that doesn't mean a million dollars. The man ended up with billions and should be able to come up with at least a billion if he's really sorry. It's just a pittance in the bucket compared to what he really took." Hibbard says he and other union workers are concerned Madoff may be released before he... [read full story]                    

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