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Saturday, October 16, 2010

White Collar Crime and Punishment in America

FRIENDS OF ANGELO = CEO LIFESTYLE WANNABES

Angelo Mozillo ... "tithes" with a $47M civil fine that he will pay out of his own pocket, aside smaller sums asked of his top two lieutenants and the amount the company (insurance?) will pay on his behalf.

Of course, he was part of the "CEO culture" and CEO lifestyle choice ripping apart America:

For years, Mr. Mozilo was among the highest-paid executives in America and his S.E.C. fine is a fraction of the vast wealth he amassed running Countrywide. In one eight-year period, from 2000 until he left the company in 2008, Mr. Mozilo received total compensation of $521.5 million, according to Equilar, a compensation research firm. -NYT


compare, blue-collar crime in America:

Gov. Haley Barbour of Mississippi has to decide whether to show mercy to two sisters, Jamie and Gladys Scott, who are each serving double consecutive life sentences in state prison for a robbery in which no one was injured and only $11 was taken. -NYT