You know by now that yesterday in the U.S., crooked fund manager Bernie Madoff was handcuffed and led away to jail after pleading guilty to all counts against him. By declining to take the normal route of a plea deal with prosecutors, he sidestepped the requirement to divulge information about his accomplices and the disposition of the stolen money. Financial observers agree that Madoff could not have run his Ponzi scheme without help, and they certainly agree that the money didn’t just disappear.

The New York cover pictured here labels elderly Madoff a monster, as if he’s some atrocity never before seen by human eyes. While he may be the biggest swindler of all time, and he certainly isn't Kevin Bacon's favorite person, he’s not new. No, he’s just the latest in a long line of elegant grifters, though a particularly efficient one. What makes Madoff truly pulp is that he took the hit for his financial clan like a good mafia footsoldier, and though he’ll never get out of jail, neither will he—let’s face it—do time in Attica’s supermax wing with the child rapers and guys who ate their grandmothers’ kidneys. It’s easy to imagine Madoff is smiling inside just a little. Does that sound strange, and perhaps cynical? Yeah, it does until you think about it.

Consider for a moment how, in this post-millennial reality, we’ve become so jaded regarding the term “billions”. Not too many years ago you rarely heard that word uttered aloud by anyone other than an astronomer. So to put this Madoff thing in perspective, let’s just pretend the word doesn’t exist. Thus restrained, we now have to refer to him as a guy who stole—not one million, not fifty million—but 999 million dollars 60 times, and walked into jail without divulging where any of it went. Still think he isn’t smiling just a little?