Jon Corzine. Dick Fuld. John W. Meriwether. Raj Gupta. You recognise those names? I'm sure you do. What do they all have in common? They have all been involved in scandals, bankruptcies or crimes and have pretty much gotten away with it..
A little history lesson for those who are less familiar with some of these names:
- Jon Corzine -
- Dick Fuld - As the CEO, he led Lehman Brothers to bankruptcy. Now we could debate for hours whether it was his fault, whether he could have done anything about it etc but lets just agree that he didn't exactly do a fantastic job. Nevertheless, he has a net worth of roughly $160mm (including a $13mm house he 'sold' to his wife for $100 less than 2 months after Lehman went under).
- Raj Gupta - Finally something topical! You guys have probably heard about this but Raj was today sentenced to a 2 year prison sentence and a $5m fine. His crime? Helping Raj Rajaratnam (a hedge fund billionaire) make hundreds of millions of dollars by passing him information from his board seat at .
So, thats a very brief history of some very rich individuals, all of which have probably committed some crimes whether they have been found guilty or not. How is it that these high-flying financiers get either nothing or a slap on the wrist for "dubious activity" worth more than the GDP of some countries? Can money really buy everything?