The scandals in wall street of late have gotten beyond belief. Two casualties are Rajaratnam and Gupta. Meanwhile the LIBOR scandal which involved major banks colluding to rig interest rates to benefit favored traders has not yet resulted in arrests. Big Pharmacy - Pfizer et al - have been caught with their bottle caps off - bribing various countries’ doctors and health care decision makers to ensure favorasble policy towards their drugs. Their punishment - about 60M$ fine!
Re: Of Rajaratnams Guptas Libor scandal Big Pharma bribery and jail time
you tell me brother, they killed arthur andersen back in the day for enron while enron execs walked around free, put in sarbanes oxley regs ...and then you had wall street meltdown...no one got shut down then..
Re: Of Rajaratnams Guptas Libor scandal Big Pharma bribery and jail time
Coincidentally on the drive back from work caught the tail end of a report. Goldman Sachs has agreed to pay 550M for some shady deals they did ( sorry could not hear defile). It was specifically stated no arrests made nobjail time. Surprise surprise - was there anyone by the name Kanhaiyyalal left to be hauled into jail?
Pretty proud of this thread - have gotten 1 response - a quantum leap over nugget thread. And if you factor in the X2 multiplier - each if his posts worth 10....
The old school old boy connections protected some people, others while accomplished and smart and maybe as guilty did not and were given a tougher treatment.