White Collar Crime
Thread Starter
|
Senior User
Joined: Mar 2003
Posts: 220
Likes: 0
White Collar Crime
With the losses of millions, likely billions of dollars over the years
(or yearly) I'm curious what type of conviction the White Collar Criminal has recieved.
With Enron, and similar Corporate insider trading, Market timing, Investor duping, and the amount of small time investors that have lost everything.
It makes my blood boil watching theses thieves free, only due to the amount of lawyers they have representing them gained from the moneys they stole off small investors backs.
Have prosecutions changed at all?
It's one thing to have a convict doing time for repeated small time thefts, but to have millions stollen you would think it's time to establish harder penalties for the greedy.
I only here of small sentences if at all, knowing once out, these people are still wealthy at the expense of thoses who have lost.
Have at it.
(or yearly) I'm curious what type of conviction the White Collar Criminal has recieved.
With Enron, and similar Corporate insider trading, Market timing, Investor duping, and the amount of small time investors that have lost everything.
It makes my blood boil watching theses thieves free, only due to the amount of lawyers they have representing them gained from the moneys they stole off small investors backs.
Have prosecutions changed at all?
It's one thing to have a convict doing time for repeated small time thefts, but to have millions stollen you would think it's time to establish harder penalties for the greedy.
I only here of small sentences if at all, knowing once out, these people are still wealthy at the expense of thoses who have lost.
Have at it.
Posting Guru
Joined: Apr 2000
Posts: 1,746
Likes: 4
From: PNW
Don't worry. The government prosectors sure showed Martha Stewart a thing or two. Or should I say, her financial adviser (or whatever he was). He was the real criminal, not the Enron or Worldcom people who skated.
Postmaster
Joined: Aug 2001
Posts: 2,882
Likes: 0
From: Nevada
Under federal sentencing guidelines, amounts of money swindled have nothing to do with anything. And let us be real about Enron. If you’re very wealthy, can afford the very best in legal counsel and the US VP is your buddy, you do have a leg up on a common stock broker when justice is the issue. Ashcroft is lower on the food chain than Cheney.
Elder User
Joined: Nov 2002
Posts: 899
Likes: 0
From: 5600 feet high
Face it, bro. The rich get away with things that are despicable and criminal every day. There's nothing being done to change it, because the people who can change it are rich people who are getting away with despicable acts.
I think it's funny how Kenneth Lay's wife had an auction to sell off a bunch of personal possesions, saying that they were "struggling for liquidity", when they had yet to "liquidate" over $25 million in real estate assets. Talk about obvious! And then you hear about "stiff sentencing" for these crooks, but do they seize their assets and repay their employees who got ripped off? Heck no, in 18 months when the "stiff" sentence is over, they return to their fabulous mansion in a limousine.
Yeah, I'm sick to death of it, too.
BDV
I think it's funny how Kenneth Lay's wife had an auction to sell off a bunch of personal possesions, saying that they were "struggling for liquidity", when they had yet to "liquidate" over $25 million in real estate assets. Talk about obvious! And then you hear about "stiff sentencing" for these crooks, but do they seize their assets and repay their employees who got ripped off? Heck no, in 18 months when the "stiff" sentence is over, they return to their fabulous mansion in a limousine.
Yeah, I'm sick to death of it, too.
BDV
Elder User
Joined: Nov 2002
Posts: 899
Likes: 0
From: 5600 feet high
"A short stint in a federal minimum security facility is an excellent way to improve your physical condition and refine your tennis game."-georgedavila; gentleman, scholar.
Great point. What's even better is that it doesn't cost you anything; the taxpayers pay for your stint.
BDV
Great point. What's even better is that it doesn't cost you anything; the taxpayers pay for your stint.
BDV
Trending Topics
Postmaster
Joined: Aug 2001
Posts: 2,882
Likes: 0
From: Nevada
And those ill-gotten assets are multiplying with much of your personal overhead being paid by tax dollars. When say 18-months in a federal (not state) minimum security facility is matched against $10-20 million well hidden dollars, human greed easily overcomes society’s laws formulated on type of crime, not the amount. If you want to expound on the type of crime, aren’t we talking about equity investments, actually not much different than a shell game with both being driven by greed of the mark? The rule of thumb for equity investments is to not put anything in you can’t afford to lose because there is no security or guarantee you’ll ever see your original investment, much less a gain. Few people adhere to that rule, though the trend for government to take care of personal decisions for the citizenry may greatly change investment regulations. Which will mean people will find other ways to circumvent new regulations. This stuff has been going on since someone offered two beans for one but they needed the one bean to make the two.
FTE Stories
Ford Trucks for Ford Truck Enthusiasts
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Verdad Gallardo
Top 10 Most Expensive Ford Trucks Ever Sold on Bring a Trailer
Joe Kucinski
2027 Ford Super Duty Buyer's Guide (Every Model, Engine, & Package)
Brett Foote
Top 10 Ford Truck Tragedies
Joe Kucinski
AEV FXL Super Duty - the Super Duty Raptor Ford Doesn't Make
Brett Foote
Lobo Vs Lobo: Proof the F-150 Lobo Should Be Even Lower!
Michael S. Palmer
Ford's 2001 Explorer Sportsman Concept Looks For a New Home
Verdad Gallardo
10 Best Ford Truck Engines We Miss the Most!
Joe Kucinski
2026 Shelby F-150 Off-Road: Better Than a Raptor R?
Brett Foote
Thread
Thread Starter
Forum
Replies
Last Post
carpe_diem
General NON-Automotive Conversation
46
Dec 11, 2003 02:08 PM