It is a mystery to me how government decides when to prosecute someone for a financial crime.
The injustice being perpetrated against society in the Angelo Mozilo case only goes to support the common view that the rich are treated differently from the rest of us. Here is a man that has a reported $1 billion net worth but rather than taking back his illicitly gotten gains they take little or nothing away from him personally. The government then settles for money from escrow accounts established by Countrywide and Bank of America.
Martha Stewart spent five months in jail and was under house arrest for five months. Her crime was lying about her stock transactions. Stewart avoided a loss of $45,673 by selling some stock. I guess she was too poor to justify just a fine. Wikipedia puts her wealth at $913 million.
There are special interests in America. They do have overwhelming power in the government. Barack Obama talks a good line but he is part of the power elite. He surrounded himself with a group of advisers who are all well connected. It has always been this way. “Who Rules America?” details the fact that the wealthiest 1% of Americans control 42.7% of all wealth in the country. No doubt it is class warfare. THE RICH WIN!!
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