Re: Official Lance Armstrong Thread: Part 3 (Post-Confession
There’s an interesting parallel between the LA case and the subprime mortgage crisis, though the federal government is on the opposite side in the two legal cases. Just as the government is claiming that they didn’t know that LA was doping, and thus was an innocent victim, so did JP Morgan Chase, among other large banks, argue that it didn’t know that it was dealing with toxic housing loans. Chase packaged and sold as high quality investments mortgages that in fact fell far short of qualifying standards, then tried to escape any responsibility for the enormous losses investors in these loans suffered. The P.O. packaged and sold LA as a clean rider who in fact did not live up to the anti-doping clause in his contract, and now maintains that it had no role in the fraud.
The difference, of course, is that since the government is the prosecution in the LA case as well as in the Chase case, it can’t lose in the sense of having to pay anyone back. Its worst case scenario is just not getting any money from LA. But maybe LA, with his back now apparently against the wall, ought to try to turn the tables and portray the government as Chase—i.e., argue that the P.O. not only was not a victim, but was the real perpetrator of the fraud, as much as LA himself. IOW, his strategy would be to maintain that the P.O. not only knew that he was doping, and that he had to in order to win, but was well aware that the profitability of the team depended on the public not knowing this.
Chase eventually settled with the government for $13 billion. It was portrayed as having created a culture in which employees were pressured into approving toxic loans that clearly did not meet the federal standards. LA needs to argue that the P.O. bears the same responsibility for his doping. The fact that doping at that time was systemic—everyone or nearly everyone on the USPS team, as well as on other teams, was doing it, and management clearly was involved--supports the argument that USPS either knew, or was grossly negligent in not knowing.