Sentence is just

The scale of Bernard Madoff's betrayal of investors who entrusted him with their money is enormous.

Their stories are heartbreaking. Life savings lost. Lives broken. Uncertain futures. Nothing to pass on to younger generations. Sadness. Despair. Dismay. Struggle. Disbelief. Ruin. Nightmare.

Madoff's Ponzi scheme separated clients from their worldly assets just as surely as if he had put a gun to their heads and demanded their credit cards and savings account numbers.

That is why U.S. District Judge Denny Chin categorized the multibillion-dollar fraud in realistic terms and sentenced the one-time head of Nasdaq to life in prison with likely no chance of parole.

"Here, the message must be sent that Mr. Madoff's crimes were extraordinarily evil and that this kind of irresponsible manipulation of the system is not merely a bloodless financial crime that takes place just on paper, but it is instead ... one that takes a staggering human toll," Judge Chin said.

One hundred and fifty years is the maximum sentence for the estimated $65 billion swindle that fleeced thousands of investors, ruined charities and jarred confidence in the U.S. financial system. After all, Bernard L. Madoff Investment Securities LLC, founded in 1960, was a venerable Wall Street firm until Madoff confessed to his sons in December its asset management arm was "one big lie."

Judge Chin said that he received more than 100 letters, none of them supporting Madoff or praising him for any good works. The judge said he did not believe Madoff had been forthcoming enough about his crimes.

The former financier pleaded guilty to an 11-count criminal complaint in what is believed to be the largest investment fraud ever to be perpetrated by a single individual. The investigation is continuing, and at least 10 more people may face federal charges, however.

The sentence is appropriate. A line from a Woody Guthrie song about an outlaw says: "Now as through this world I ramble I see lots of funny men. Some will rob you with a six gun, and some with a fountain pen."

This shocking white-collar crime came to light as the economic downturn was gaining steam, further eroding public confidence in the financial system.

It is unfortunate that federal regulators did not detect Madoff's scheme years ago. But justice has been served.