One guy thinks they're lucky. Kozlowski (spelling?), of Tyco, got life at Rykers - which would have to improve 3 notches to be called a "hell hole". I still think about that guy.
I hope people not naive to believe that Skiling, Lay, Ebbers are more an exception than a rule. Corporation were, are and will be doing all these shady deals including gigantic compensation to the board (healthsouth CEO accumulated over 1 billion in options). But put yourself in their shoes, would you have enough ethics to resist such temptations. Most wonât be able to. Their crime is not in what they did, but that they got caught. They got too greedy and careless. redduke
Indeed. How sad that two men should be heartlessly struck down in their selfless quest for unearned riches. Where, oh where, is the justice when unfeeling victims take petty umbrage at merely being robbed? These were just two ordinary men steeled with the noble ambition of caring for their families and themselves by lavishing them(selves) with money rightfully belonging to faceless others. Who cares about those others without faces? Think of the children! Perhaps you should write a poem that we can remember them by, or at the very least a folk song.
I'd say that the prospects of that happening are pretty good. That is my interpretation of the trend and momentum. And as you alluded to in another, related thread, I agree that board directors of companies that have engaged in massive fraud should be given a very thorough once-over before they are cleared of any wrongdoing.
If you are feeling at all sympathetic to skilling or lay - you just don't understand the whole story. As for the "world out there that none of us are qualified to comment on" - i'd disagree with that as well. These guys wrote off-balance sheet deals for no other reason than to eliminate losses and raise cash to fund operations and fabricate the illusion of earnings growth. It's one thing to use creative accounting practices to massage earnings or whatever - but this was outright stealing from peter to pay paul type of behaviour. They bullied, manipulated, and conned billions of dollars from banks, investment funds and the like. It was deliberate, calculated and there is no defense for their actions except those baked up by their over paid laywers. As a direct result of their actions - 50+ thousand people lost their livelihoods and their retirement savings. In addition, they destroyed economies, credibility of markets and the repercussions of their stupidity are still being felt. I think they got less then they deserve personally. String the bastards up by the cajones.