4 ms·
Being extraordinarily connected did not help Madoff much: he was sentenced to 150 years in prison and died there last year.
by likpok 4y ago
Being extraordinarily connected did not help Madoff much: he was sentenced to 150 years in prison and died there last year.
- Loughla 4y agoThe cynic in me says that it really does matter who you defraud. Where Madoff went wrong was ripping off other rich people. So, if SBF defrauded more upper- than middle- or working-class folks, then he's screwed.
- cycrutchfield 4y agoThis is silly. You think the career DOJ prosecutors are looking at the list of victims and only deciding to prosecute if there is a rich person on the list?
- whatshisface 4y agoA lot of the things that defraud non-wealthy people (multi-level marketing, all of those "supplements" you can buy in the medicine isle, false advertising) aren't illegal or practical to sue over. Let's look at one particular example, the stop the steal scam. Thousands of people were tricked in to donating to the ringleaders of an impossible political cause based on false claims, and none of them are going to jail for that in particular. You could find dozens of similar examples just by keeping an eye on the news, but nobody thinks about it because a certain type of con with victims that professionals can't empathize with has become normalized.
- NaturalPhallacy 4y agoOr BLM leaders taking millions in donations and using it to buy houses.
- cycrutchfield 4y agoDidn’t Bannon et al. get indicted for a very similar scheme for some impossible border wall project? Seems like these things require patience
- NaturalPhallacy 4y ago
- astrange 4y agoThey're not "even bigger", they're structured and regulated very differently now.
- cycrutchfield 4y agoIn the US, we can't just convict people because they lost people money. You need to prove criminal intent. Are you aware of any evidence demonstrating intent to commit fraud? Not sure what the size of banks has to do with anything.
- akoncius 4y agoI dont have detailed knowledge, but rating agencies clearly violated their duties by providing AAA rating to junk
- cycrutchfield 4y agoAny evidence that specific executives at these rating agencies had the intent to defraud people by over-rating mortgage-backed securities? Simply being inept at your job is not necessarily criminal.
- svnt 4y agoYou don’t think Sequoia is among those pushing for prosecution?
- coolspot 4y agoBeing extraordinarily connected did help Epstein though: he only spent one month in jail.
- rurp 4y agoOnly when the deal flew under the radar. The prosecutors even kept his victims in the dark in order to get away with such a soft deal. Once Epstein and his crimes were splashed all over the news he was looking at a much worse outcome.
- gammarator 4y agoGP was making a dark joke.