Although the target of their anger never appeared outside the New York court, defrauded investors who had put their money with Bernard Madoff took the chance to display their anger and relief in demonstrations as the hearing to decide how much time he would spend in prison went on inside.

Waving T-shirts, giving thumbs-up signs, and even displaying redundant and worthless investor slips, the crowd cheered and hugged relatives as the news of the 150-year sentence meted out to Madoff emerged.