Money and Jail
impactnow
4/18/2012 1:26:15 PM
He should be held accountable but money and power often shield those in these positions. He should have been carted off to jail already.
I think they do. They just don't stop doing the 'wrong' thing altogether. It gives them another angle on how NOT to get caught.
Probably not. They never learn from each other's mistakes.
No I'm saying that there's a bad time to get caught up in the wrong things. Corzine did. Now he's going to pay the price.. might be harsher to make thenext guy NOT want to follow in his footsteps.
Phil, not sure what you are saying. Are you suggesting Corzine should be anywhere BUT jail?
He's unfortunate to end up in the "Let's make an example of folks" period that we're in. The bigger you are, the harder the public exampls is.
Re: Corzine: closer to jail?
Street Smart
3/26/2012 2:31:37 PM
Oh, @Scott, let me be perfectly clear: I totally agree that the MF Global meltdown should never have happened, and it now seems abundantly clear that client monies weren't simply "misplaced." I know some of those client funds are yours and I think you're doing an admirable job of staying even keel. If Corzine knew anything (and it looks like he did) they should throw the book at him.
All I'm saying when I roll my eyes heavenward and ask what the world is coming to is that I lament the loss of honor and ethics on Wall Street. I honestly believe that they used to exist.
There was an interesting article in the NY Times this morning about Goldman's alleged role in the bankruptcy of Copper River Partners in 2008. We want better regulation and a more level playing field for the "little guy" but this was a $1.5 billion hedge fund!
http://www.nytimes.com/2012/03/26/business/goldman-sachs-denies-claims-it-led-to-copper-rivers-demise.html
It should never have happened in the first place. It was against CFTC rules. There should have been controls in place to prevent this from happening.
Re: Corzine: closer to jail?
Street Smart
3/26/2012 11:18:17 AM
What is the world...and Goldman Sachs...coming to? When the money went missing this scenario seemed so believable that it was just unbelievable.
Whether Corzine does jail time (perhaps he could share a cell with Rod Blagojevich) or just ends up poor and disgraced, this is a LONG way to fall! I want to say "Now I've seen everything," but that might tempt the gods.
Very, very sad...
Re: Corzine: closer to jail?
driven
3/26/2012 11:03:43 AM
You, @Tenacious, have apparently never worked at Goldman Sachs.
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