Friday, November 8, 2013

DOING GOD'S WORK

SAYS BLANKFEIN.
Johann Wagener 11-8-13

Why would a corporation be allowed to continue doing business as usual after pleading "guilty" to fraud and corruption when Cohen is barred?  I thought Supreme Court cloned them into the "people" category? Sounds like a case of pure discrimination in enforcing the law these guys created.



In spite of all that, Cohen is projecting a sense of business as usual at SAC Capital. He has indicated to his employees that he plans to convert his fund into a family office trading his own money once SAC’s guilty plea forces him to shut down his investment advisory business. Cohen will remain on the board of the prestigious Robin Hood Foundation philanthropic organization, and major investment banks such as Morgan Stanley (MS) and Goldman Sachs (GS)seem little disturbed by the fact that SAC just pleaded guilty to criminal securities fraud.

“We at SAC regret terribly the conduct of these employees,” Nussbaum said in court. “We have paid and are paying a very steep price for their actions.” He went on, “We are chastened by this experience, but we are determined to emerge from this as a better firm.” For the time being, it appears that there will continue to be a firm, with Cohen at the head.





Maybe this will work for the guy who took a few bucks from a local 7/11?