It's Bail!

Madoff will remain under house arrest in his $7 million Manhattan penthouse.

Not surprisingly, the judge has placed some restrictions on transferring assets. So no mailing diamonds to friends and family abroad. All outgoing mail will now be searched (only now?)

So why might the judge have made this choice?

This could be a sign that he’s been directly cooperative. There’s also the idea that leaving him (relatively) free is more conducive to learning information from him.

That being said, why would the prosecution push so hard if there were some benefit to him remaining free?

The big losers today: His fellow co-op residents.

Here’s the judge’s full decision:



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