Academic

LAWS, LIKE TAXES, ARE FOR THE LITTLE PEOPLE: Friends Of Angelo ? and Angelo ? skate while small f?

By Glenn Reynolds

LAWS, LIKE TAXES, ARE FOR THE LITTLE PEOPLE: Friends Of Angelo — and Angelo — skate while small fry go to jail. “Mr. Mozilo?s company made billions in profit, some of it on liar loans that he acknowledged at the time were likely to be fraudulent and which did untold damage to the economy. And he personally was paid hundreds of millions of dollars. Though he agreed last year to a $67.5 million fine to settle fraud charges brought by the Securities and Exchange Commission, it was a small fraction of what he earned. Otherwise, he walked. Thus does the Justice Department display its priorities in the aftermath of the crisis.”

Full post as published by Instapundit.com on March 26, 2011 (boomark / email).