...If have mentioned this one before. The simple fact is that white collar crime is not punished, except by fine, so nobody goes to jail if they have the bucks. This, I think, is somewhat different from the "justice for all" business.
What really get interesting is that we throw lowly drug dealers in prison forever, we throw pregnant women in jail for a pittance, and people stealing food get to do time too. On the other hand, if you got the bucks you can do stuff with no problem. Create false documents to 'prove' you can foreclose on somebody's house? No problem, bit of a fine and little else and screw them that got screwed over (Bank of America has been doing this dance for years).
I've never thought about jail-time in that way before. But, you're mostly right. Bernie Madoff went to prison.