Bernie’s back in court tomorrow

Well his lawyers will be, anyway. A U.S, judge will review the lower magistrate’s descision yesterday that permitted Madoff to stay at home for the nonce.  A judge can always overrule a magistrate and some federal judges have egos that might encourage such a result on general principle but I think Bernie can probably plan on keeping his toothbrush above the sink in his penthouse for a while longer. The magistrate made a finding of fact (Bernie unlikely to flee) and that’s not appealable, I don’t believe, and a ruling of law that seemed pretty solid, however emotionally unsatisfying that was for many of us. Certainly there wasn’t such a clear misstatement or misunderstanding of the law that would justify overruling his decision. If we were on instant replay, I’d say that the decision on the field will stand.

But then, I though he’d be jailed yesterday, so what do I know?

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