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It's not just the bankers

By NickNielsen ·
Sentence was passed today on the former general counsel and secretary of Monster Worldwide. He had pleaded guilty to securities fraud and conspiracy to commit securities fraud, admitting that he illegally backdated millions of dollars in employee stock option grants. He participated in a scheme to backdate stock options from 1996 (when Monster went public) through 2003.

http://www.thestate.com/2010/03/02/1183050/internet-job-site-execs-cooperation.html

The story points out: At least 135 U.S. companies have disclosed internal inquiries or government investigations, and at least 39 executives and board directors at 19 companies have been fired or have resigned.

Given the extent of the problem, can somebody please provide a logical explanation of how reducing regulation that would prevent this type of abuse is a good thing?

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[crickets chirping] No text.

by CharlieSpencer In reply to It's not just the bankers
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LOL

by cmiller5400 In reply to [[crickets chirping]] No ...

The sound/visual I get on that is priceless

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Was feeling like Daffy

by NickNielsen In reply to [[crickets chirping]] No ...

for a few minutes there...

"Ingrates."

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chirping

by GSG In reply to [[crickets chirping]] No ...

Off topic, but, I had a sound byte of said crickets at one time. We were working with a vendor on a project, and it seemed like no one could ever answer our questions. It got so bad on our conference calls that everytime they paused in an uncomfortable silence, I played my chirping cricket soundbytes, which cracked up my co-workers who were silently laughing during the calls.

The payday came (so to speak) when the vendor was supposed to come on site, and one of them said that she didn't want to come because we were infested with crickets and she was afraid of bugs.

We also kept a running tally of how many times the Project Manager on their side said Okey Doke. I think in one particular one hour call we logged over 20 of them.

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Maybe the Vendor was from Dallas???

by NotSoChiGuy In reply to chirping

I used to work for a large consulting firm, and they had their main tech hub down off of Stemmons in Dallas. Huge complex that was modeled after some crystal palace in Europe.

Anyhoo, I had to go down there for some meeting, and it was in the middle of a heat wave (this happened in 1998, I want to say). I went inside, and the first thing I noticed was that is was nice and cool. The second thing I noticed was that the 'pattern on the walls' seemed to have an odd visual effect to them, so I decided to get closer to take a look.

It was NOT an odd visual effect. The walls were covered floor--to--ceiling with crickets.

I'm not creeped out by insects in general, but I have to admit that it did weird me out a bit. Had a 'Kingdom of the Spiders' (one of The Shat's finer acting moments) vibe to it.

:)

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cricket-mania

by GSG In reply to Maybe the Vendor was from ...

Nope, they were out of Chicago.

I have been known to go nuts at the sounds of crickets. I can't stand that chirping noise when I'm trying to sleep. My most memorable moment came at about 3am when I was in my garage in my Pajamas, with a can of Raid, squirting crickets and yelling, "Die, cricket, Die!"

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Ciacadas

by NotSoChiGuy In reply to cricket-mania

The sound cicadas make drives me up a wall. Fortunately, we have 14 more years until we have to worry about them again!

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Greed and cheating, greed and cheating

by DadsPad In reply to It's not just the bankers

the corporate american/world way.

There is a ethical crisis in the world, with the U.S. leading the way. Where was his ethics when he was cheating before he saw jail time. Tears, indeed!

Sad.

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I disagree...

by NotSoChiGuy In reply to Greed and cheating, greed ...

...there isn't an ethical crisis in the corporate world. Similarly, there isn't a mastodon or saber-tooth tiger crisis in the wild.

They're all extinct.

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However, there is a moral crisis

by jck In reply to I disagree...

Anyone at the top of the company who would take advantage of their position to commit fraud and devalue others holdings for personal gain...is morally corrupt.

But, we have one other problem as I said elsewhere.

You can get 1-4 years in prison for carrying just a baggie with a few joints in it for your own consumption.

People who ripped off $10Ms and $100Ms of stockholder investments are doing 3-6 years, in the process ruining 1,000s of peoples' lives.

What's not right here? I underpaid $350 in state taxes once and had to pay back over $900.

Madoff and others rip off people and are only made to make restitution in the neighborhood of 15-50%?

The normal guy gets screwed again.

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