SAC Capital: Good Job Mr. President!

[Oldguy]

SAC Capital Advisors, the latest crooked investment firm to fall under the Obama administration's relentless campaign to clean up Wall St. and big banks. The $616 million dollar forfeiture for insider trading, and the resulting criminal prosecutions, are among the stiffest penalties ever levied.

We hear a lot of talk about bankers and investors getting away with raping their customers, but this President is actually doing something about it.

Good job, Mr. President!

SAC Capital to Pay $616 Million in Insider Trading Cases - NYTimes.com

 

[wihosa]

I tend to agree with you. My only question is what was the amount of the fraud? If we're talking billions then 616 million might just look like the "cost of doing business".

 

[Oldguy]

I tend to agree with you. My only question is what was the amount of the fraud? If we're talking billions then 616 million might just look like the "cost of doing business".

I agree, but it's a process. Fines and jail time, even if it doesn't recoup everything, are a powerful message to others who might be sitting up there contemplating screwing their customers. Just the fact that there are now consequences, REAL consequences, should put a brake on reckless behavior in the future.

 

[wihosa]

Yes, jail time!

 

[editec]

SAC Capital Advisors, the latest crooked investment firm to fall under the Obama administration's relentless campaign to clean up Wall St. and big banks. The $616 million dollar forfeiture for insider trading, and the resulting criminal prosecutions, are among the stiffest penalties ever levied.

We hear a lot of talk about bankers and investors getting away with raping their customers, but this President is actually doing something about it.

Good job, Mr. President!

SAC Capital to Pay $616 Million in Insider Trading Cases - NYTimes.com

Naturally every honest person rejoices to read that investment CRIMINALS are brought to justice


BUT

Arresting Insider trading is NOT solving the structural economic problems that lead us into this economic mess.

That's going to take real BANKING AND INVESTMENT reforms.

 

[wihosa]

SAC Capital Advisors, the latest crooked investment firm to fall under the Obama administration's relentless campaign to clean up Wall St. and big banks. The $616 million dollar forfeiture for insider trading, and the resulting criminal prosecutions, are among the stiffest penalties ever levied.

We hear a lot of talk about bankers and investors getting away with raping their customers, but this President is actually doing something about it.

Good job, Mr. President!

SAC Capital to Pay $616 Million in Insider Trading Cases - NYTimes.com

Naturally every honest person rejoices to read that investment CRIMINALS are brought to justice


BUT

Arresting Insider trading is NOT solving the structural economic problems that lead us into this economic mess.

That's going to take real BANKING AND INVESTMENT reforms.

You're right, gee who's against that?