Hacker News Reader

The issue is that Mozilo's behavior resulted in personal gains against extreme public losses. It's in our best interest as a society to deter such behavior, while enabling whatever legitimate business Countrywide conducted. How do we best do that? The public at large wins — Mozilo should win, the public at large loses — Mozilo should lose.

I think GP's point is that a $60M fine (against $520M in earnings) is not a an effective deterrent against such antisocial behavior.

Maybe the fines are too low. I could be persuaded of that.

I'm just saying that they aren't, as themagician asserted, lower than the actual gains from the frauds in question.

I agree all is a bit much but, it is more than 13% including penalties, especially when you include the effect the 'boosted' earnings had on the stock price.

But the general thesis that people are making so much money from their crimes that they don't fear criminal penalties seems to hold. like the 2.x billion in profits lost from the 1.9 billion fine?

I don’t give a shit where his earnings came from. This is a man who should be utterly bankrupt and forced to pay restitution for the test of his life.