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Author: steve203 Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 464965  
Subject: Re: British banking giant HSBC will pay Date: 12/14/2012 1:43 AM
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My solution would be this: They are suspected of laundering $7 billion in drug money. So fine them $14 billion and let them fight in court.

That's no solution. The company is insolvent, the sharehoulders are wiped out, but the honchos, their tens of millions per year of compensation safely in pocket, skate.

Jeffrey Keith "Jeff" Skilling (born November 25, 1953) is the former president of Enron Corporation, headquartered in Houston, Texas. During 2006 he was convicted of multiple federal felony charges relating to Enron's financial collapse, and is currently serving a 24-year, four-month prison sentence at the Federal Correctional Institution in Englewood, Colorado

http://en.wikipedia.org/wiki/Jeffrey_Skilling

Bernard John "Bernie" Ebbers (born August 27, 1941) is a Canadian-born businessman. He co-founded the telecommunications company WorldCom and is a former chief executive officer of that company.

In 2005, he was convicted of fraud and conspiracy as a result of WorldCom's false financial reporting, and subsequent loss of US$100-billion to investors. The WorldCom scandal was, until the Madoff schemes came to light in 2008, the largest accounting scandal in United States history. He is currently serving a 25-year prison term at Oakdale Federal Correctional Complex in Louisiana.


http://en.wikipedia.org/wiki/Bernard_Ebbers

If the honchos of Bank of America, Wachovia, Citi WaMu and Countrywide were in the jug for 20 years, the rest of the gang might get religion about performing their jobs in a responsible manner.

Instead, we see now far the "rule of law" has fallen in the US.

Steve
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