Even confessed fraudsters reframe their crimes through advantage and pervasive-complicity defense.

Evidence

Madoff acknowledged his wrongdoings but found relief in moral self-exonerations. He explained that he benefited others by making money for the earlier investors; only the latecomers bore costs. He tried to return funds to some individual clients when he realized that he could not extricate himself from his elaborate fraud. In advantageous comparison, he viewed himself as a small fish in a pervasive climate of greed and unlawful complicity in the financial industry: “Everyone was greedy and I just went along.” — Albert Bandura, Moral Disengagement, 1455

Categorization

• DEFINE: Illustrates Bandura’s concept of ‘advantageous comparison’ with Madoff as the concrete case.
• SHARE: Good for someone interested in the psychology of white-collar criminals and rationalization.
• XREF: connects to: Fraud defendants can sincerely recast self-interest as heroism against banks — Anna Merlan, Republic of Lies, 654