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Originally Posted by DAVES
In the CUB SCOUTS, talk about a long time ago. I still recall our trip to the FBI. Surely the one who did our tour is probably 6 feet under. I expect he was given some other things to do if managers ever heard what he was saying. He told us the FBI solves only 20% of the crimes THEY KNOW ABOUT. How many crimes, the good crimes are never found out.
Most crimes are never caught. It is the threat of getting caught that keeps people on the straight and narrow. Madoff, heck they even made a movie about him. You can bet he is giving investment advice to prison guards and he is being well treated in exchange-assuming he is still in jail. Martha Stewart was railroaded and served jail time all kinds of press coverage. From what I recall she was found guilty of insider trading. The amount was ten thousand dollars. Typical of our legal system they offered her a plea bargain.
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A very good post. I believe the 20% figure. White-collar criminals are HARDER to catch and prosecute. They are normally smarter than blue-collar criminals. White-collar criminals know how to "work the system", find loopholes in the law, and hide their activities in multiple business companies. The FBI and DOJ need to have forensic accountants that are smarter than the Madoff types; that requires the Internal Revenue, also, to have a lot of agents and computer types to work a case. It all EATS up a lot of taxpayer dollars, which people complain about, but that probably pays for itself with a conviction.
.......The movie about Madoff hopefully will act as a DETERRENCE to future Madoffs! Abraham Lincoln said that you can fool ALL of the people SOME of the time. Madoff got his "some of the time". I am ALWAYS amazed at SMART criminals.........why do they spend their time and brainpower on CRIME and evil, when with that brainpower, connections, and ambition.......they could have done a lot of good and been LEGAL about it? Why be Madoff when you could have been Warren Buffet ?