04/11/2009 05:12 am ET | Updated May 25, 2011

Trust Fund Baby, Future Maybe

Financial Boogie Man Bernard Madoff has at last pled guilty. This is of little comfort to the thousands he's bilked out of billions, but it'll have to do for now. Bernie could get as much as 150 years behind bars, but jail is too good for him. Actions as diabolical as his make me wonder: Is torture really wrong? Would water boarding be out of line? Instead of jail, maybe he should go to Dick Cheney's house.

I've heard it fervently hoped that Bernie should rot in hell. That's only fitting since Satan lost money too.

His list of victims seems endless, each one with a tale of woe more dreadful than the last. Particularly tragic are the numerous charities that have been forced to shut their doors. I am optimistic though that in time they will regroup and rebuild. The kind souls who give of their time, energy and money to those in need will find a way to do so again.

The outlook is not so hopeful for the wealthy who fell prey to Madoff's money machinations. No one is rushing to restore the fortunes of the formerly flush. There's no bail out for these billionaires. They are learning the hard way that being broke is a bitch. The old adage is true: The bigger they are, the harder they fall.

My heart breaks when I think of these folks venturing out to Wal-Mart for the first time; baffled by the little green pieces of paper the rest of us are trading for goods and services. I can only imagine the regret they must feel at letting go the nanny for before asking her what their children look like. They are learning the hard lesson that living from paycheck to paycheck is more difficult than living from trust fund to trust fund.

Bernard Madoff's one man Ponzi scheme is a crime that will reverberate down through the generations. "Ring Around the Rosie" is a children's nursery rhyme about the Black Plague. Someday the progeny of the formerly rich and famous may creepily croon:

"Bernie, Bernie!
He's our man!
If he can't cheat us
No one can."

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