Stories like this tie together nicely. Madoff acted by himself to defraud people of millions so he goes to jail. Mazilo was part of a system that defrauded people of millions so he goes free.
There is another possibility. Madoff was basically broke when he was caught as he lost everything. As far as I know, Mazilo is still filthy rich. That makes a difference.
Mayor Michael Bloomberg on Bernie Madoff; He Was a Nice Guy Back Then; - George Stephanopoulos; Bottom Line
Countryside's Angelo Mozilo will not be charged.
This originated at FDL and I've adjusted it slightly. See the last paragraph here [FireDogLake]
"If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.”
"If you commit massive amounts of fraud by yourself, that's a problem but if everyone in an industry conspires to commit the same kind of fraud, That's not a problem".
"If you're broke after the fraud, that's a problem but if you still have a few million left that's not a problem"
tnb
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