Andrew Ross Sorkin takes the opposite view of myself and Barry Ritholtz when he says no Wall Street CEO's will be hauled off to jail for their part in causing the crisis. Here's hoping he's wrong. If Repo 105, committing perjury before Congress about your compensation, and hiding toxic shit on your balance sheet while overstating the health of your bank isn't enough to get one of these scumbags locked up, then I don't know what is.
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Lawyers (which I am not) will point out that there is a difference between unethical and unlawful. I think everyone knew that Repo105 was being used. In other words, the debate is not should they go Jail but would they? It's funny that you go jail for an assault, but you don't even if you destroy lives of millions. Capitalism at its finest!
Back in the good year 07, who would thought this as unethical?
All I know is Stan O'neal was the only one out like a fat kid in dodgeball singing Willie Nelsons "got to know when to run" all the way to the bank before this whole mess unraveled. Leaving Thain to take all the heat.
I just think Andrew Ross Sorkin is a complete douche bag... Every article he writes on dealbook has a preface, as if Jesus is about to lay down some wise words... then you read it and realize he knows shit and he's a douche bag and his face needs to get smacked... just my take on it all...
LOL.
No argument here.
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