US calls hedge fund a magnet for cheating

by FluteHolder Thu Jul 25, 2013 11:42 pm

http://profit.ndtv.com/news/corporates/article-us-calls-hedge-fund-a-magnet-for-cheating-324958?pfrom=home-otherstories

by Marathadi-Saamiyaar Fri Jul 26, 2013 12:20 am

FluteHolder wrote:http://profit.ndtv.com/news/corporates/article-us-calls-hedge-fund-a-magnet-for-cheating-324958?pfrom=home-otherstories

Wall Street Looters - Prime Exhibit.

Looting and living off of public money will not stop unless the punishment is increased to 15 yrs MINIMUM imprisonment + CONFISCATION of ALL their properties (and everything they transferred to their loved ones).

by Idéfix Fri Jul 26, 2013 12:26 am

Marathadi-Saamiyaar wrote:
FluteHolder wrote:http://profit.ndtv.com/news/corporates/article-us-calls-hedge-fund-a-magnet-for-cheating-324958?pfrom=home-otherstories

Wall Street Looters - Prime Exhibit.

Looting and living off of public money will not stop unless the punishment is increased to 15 yrs MINIMUM imprisonment + CONFISCATION of ALL their properties (and everything they transferred to their loved ones).

The first step is prosecuting more of these crimes. One of the biggest failures of the Obama administration is the lack of prosecution of the shenanigans that led to the last crisis. It is not like a lot of these guys are getting prosecuted, convicted, and then getting sentenced to too little time. So increasing the sentence won't do much. These criminals are unafraid because they don't think they will be caught, and even if caught, won't be prosecuted as long as thousands of other people at other firms are also committing the same shenanigans.

by Marathadi-Saamiyaar Fri Jul 26, 2013 12:44 am

Idéfix wrote:
Marathadi-Saamiyaar wrote:
FluteHolder wrote:http://profit.ndtv.com/news/corporates/article-us-calls-hedge-fund-a-magnet-for-cheating-324958?pfrom=home-otherstories

Wall Street Looters - Prime Exhibit.

Looting and living off of public money will not stop unless the punishment is increased to 15 yrs MINIMUM imprisonment + CONFISCATION of ALL their properties (and everything they transferred to their loved ones).
The first step is prosecuting more of these crimes. One of the biggest failures of the Obama administration is the lack of prosecution of the shenanigans that led to the last crisis. It is not like a lot of these guys are getting prosecuted, convicted, and then getting sentenced to too little time. So increasing the sentence won't do much. These criminals are unafraid because they don't think they will be caught, and even if caught, won't be prosecuted as long as thousands of other people at other firms are also committing the same shenanigans.

Both are needed. The fear of severe punishment and losing it ALL, and the real fear that they are very likely to be convicted quickly.

Unfortunately, whoever is running Washington, much of the administration is filled with Wall Street Looters and their connections. Just that the people are from a different set of rival companies.

Perhaps, they should avoid anyone who went to IVY league business or Law schools. People who go to U of Chicago, NWU, Vanderbilt, Stanford, U Michigan, Austin, GT, Duke, Emory, Wash U, Univ Wash business and Law schools are just as good and capable. These Ivy League-Wall Street nexus has to be broken, bcz they all follow the same strategy and looting concepts. May be they should hire only those from Chimmichanga State Universities and see what happens.

by truthbetold Fri Jul 26, 2013 12:51 am

Uppilisamy,
history has every type of example. 1980s major scandals were led by brilliant Milken, flamboyant. Ivan boesky and inside traders who studied at new York community college.

by Idéfix Fri Jul 26, 2013 1:03 am

Marathadi-Saamiyaar wrote:U of Chicago

That's the birthplace of the Chicago school of economics, intellectual home to FA Hayek and Milton Friedman. Most economists who want no regulation of markets (including Wall Street) are from that school.

by Marathadi-Saamiyaar Fri Jul 26, 2013 1:08 am

Idéfix wrote:
Marathadi-Saamiyaar wrote:U of Chicago
That's the birthplace of the Chicago school of economics, intellectual home to FA Hayek and Milton Friedman. Most economists who want no regulation of markets (including Wall Street) are from that school.

you are missing my point. The Ivy League-WSL nexus has bred a generation of cronies and crooks. The PhDs and Peofessors from these schools are less to blame than the YemBeeAs and liars who come out of them.

by Idéfix Fri Jul 26, 2013 1:18 am

Marathadi-Saamiyaar wrote:
Idéfix wrote:
Marathadi-Saamiyaar wrote:U of Chicago
That's the birthplace of the Chicago school of economics, intellectual home to FA Hayek and Milton Friedman. Most economists who want no regulation of markets (including Wall Street) are from that school.

you are missing my point. The Ivy League-WSL nexus has bred a generation of cronies and crooks. The PhDs and Peofessors from these schools are less to blame than the YemBeeAs and liars who come out of them.

You are right about that much. And some of the professors are in it too.

by Idéfix Fri Jul 26, 2013 1:23 am

by Idéfix Fri Jul 26, 2013 1:26 am

BTW, Glenn Hubbard, the guy in the second video, was Mitt Romney's "go-to economist" according to the New York Times.

by Marathadi-Saamiyaar Fri Jul 26, 2013 1:32 am

Everyone looks at a situation and its pros and cons. With the loose enforcement regime, even the noble, educated and principled cant resist the temptation of money as the pros far outweigh the cons.

The system is so corrupt, instead of the bad guys becoming good guys, it is the other way around.

by truthbetold Fri Jul 26, 2013 1:47 am

Read den of thieves by James Stewart, book from early 1990s.
Dennis levine (cuny)
Ivan boesky (u of Mich) and
Milken (wharton) were involved in that story.
Rudy Giuliani was also involved.
That case put an end to insider trading during corporate takeovers.

by Sponsored content

US calls hedge fund a magnet for cheating

US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating

Re: US calls hedge fund a magnet for cheating