Thank you, Louie Freeh. As if your failure as the FBI head honcho wasn't bad enough... http://online.wsj.com/article/SB10001424052970203961204577269841477216320.html?mod=business_newsreel
It seems that fraud and crime on Wall Street always pays off, even if you get caught. No other industry works this way. Just sickening.
Seems a significant bonus is being paid to their General Counsel. If anyone deserves a huge payday its this guy. Kept them all out of jail and washed the money.
http://online.wsj.com/article/SB10001424052702303717304577275771804586912.html?mod=googlenews_wsj ------------------------------------- I wrote Jacob: Dear Jacob, As a registered CTA who resigned from MF Global four weeks after Corzine took the helm, this is an issue I have been closely following. Eric Holder at the DOJ gives the appearance of corruption, as there is probable cause to TRY a case against Corzine for fraud relating to filching from segregated accounts. It has been documented MF execs took from customer segregated funds on an ongoing basis, but only got caught in the firmâs final days. As a society, we cannot prevent theft or wrong-doing. However, by prosecuting those who damage society and break its laws, we teach deterrence. Right now there is no deterrent to committing theft at other brokerages, as evidently one can steal with impunity, as long as one gives politically to the incumbent party. I hope you report on this.
we really do need a "wall of shame" or something with everyone's name and picture posted from all the companies that got busted for swindling money. I have no idea what the CEO of defunct Countrywide is....and I know this guy didn't have most American's best interest at heart. Even university executives that get 100k raises and then hike tuition....that is a grey area but i'm sure they could care less about the students. let's say you live to be 80. grad. college at say 22, few years hard work...so from 24 to 65ish you have this window where you want to make the most money and if some people get trampled, well, too bad... and you probably won't get a great job until 35. so we are talking about a pretty small window. enter greed.....this just has to be human nature for most of us. if someone sent me an email and said, "you get a 200k bonus but we might have to fire 100 people. is that OK?" "ah. sure. i'll just blame someone else."
Well if its in the contract and they have to oblige to it then it must be done. Whether its ethical is a separate debate but law is law.