And to be fair, it would be better for him to spend his time working off his debt to his victims, rather than being a drain on society in prison. Structured appropriately, it could constitute adequate punishment--for example, being under "house arrest" rather than in prison.
I agree with you. Situations like this are perfect for indentured servitude (which is specifically permitted under the 14th Amendment as punishment for a crime). Madoff should spend the rest of his life scrubbing the toilets of the people he defrauded, starting at the smallest debt and working his way up, earning minimum wage doing whatever legal tasks they require of him until he has repaid each one in full. All his heirs and relatives need to be carefully audited as well to get back the money he has holed away throughout the globe.
