4 ms·

Officers are increasingly taking on more and more legal liabilities. There's definitely a growing need for danger money in some industries. Would you be a bank

by retube 10y ago

Officers are increasingly taking on more and more legal liabilities. There's definitely a growing need for danger money in some industries. Would you be a bank CEO if it meant jail if one of your 100,000 employees was caught laundering cash or passing on insider information?

ErikAugust 10y ago
Does this actually happen? I cannot think of a single, real-life example.
cmurf 10y ago
Can you provide an example of a bank CEO going to jail for an employee doing anything illegal, when the bank CEO did not know or participate in it the crime whatsoever? Or alternatively, what crime were they charged with?
jaynos 10y ago
>Would you be a bank CEO if it meant jail if one of your 100,000 employees was caught laundering cash or passing on insider information? IF that was actually a risk, I might consider it, but thanks to the Holder Memo, we have "Too big to jail". "Kareem Serageldin was an executive at Credit Suisse who was described by friends as an “investment-banking monk.”[1] As of April 30, 2014, Serageldin was also the “only Wall Street executive prosecuted as a result of the financial crisis” that triggered the Great Recession.[2] On Friday, November 22, 2013, Serageldin—the former Managing Director/Global Head of Structured Credit in the Investment Banking Division of Credit Suisse Group—was sentenced to 30 months in prison in connection with a scheme to hide more than $100 million in losses in a mortgage-backed securities trading book at Credit Suisse.[3] Serageldin also agreed to give back $25.6 million in compensation to Credit Suisse, and was later ordered to pay more than $1 million to settle an SEC lawsuit." [1] [1] https://en.wikipedia.org/wiki/Kareem_Serageldin https://en.wikipedia.org/wiki/Kareem_Serageldin
dv_dt 10y ago
I think that's making a mountain out of a molehill. How many CEOs have even been charged for anything close to that, how many CEOs have been charged at all even when they have been involved. Current case: Wells Fargo CEO.
nerdponx 10y ago
You mean like what happened at Wells Fargo?
cmdrfred 10y ago
You may be certifiably insane. When has that ever happened?

by retube 10y ago

ErikAugust 10y ago

Does this actually happen? I cannot think of a single, real-life example.

cmurf 10y ago

Can you provide an example of a bank CEO going to jail for an employee doing anything illegal, when the bank CEO did not know or participate in it the crime whatsoever? Or alternatively, what crime were they charged with?

jaynos 10y ago

>Would you be a bank CEO if it meant jail if one of your 100,000 employees was caught laundering cash or passing on insider information? IF that was actually a risk, I might consider it, but thanks to the Holder Memo, we have "Too big to jail". "Kareem Serageldin was an executive at Credit Suisse who was described by friends as an “investment-banking monk.”[1] As of April 30, 2014, Serageldin was also the “only Wall Street executive prosecuted as a result of the financial crisis” that triggered the Great Recession.[2] On Friday, November 22, 2013, Serageldin—the former Managing Director/Global Head of Structured Credit in the Investment Banking Division of Credit Suisse Group—was sentenced to 30 months in prison in connection with a scheme to hide more than $100 million in losses in a mortgage-backed securities trading book at Credit Suisse.[3] Serageldin also agreed to give back $25.6 million in compensation to Credit Suisse, and was later ordered to pay more than $1 million to settle an SEC lawsuit." [1] [1] https://en.wikipedia.org/wiki/Kareem_Serageldin https://en.wikipedia.org/wiki/Kareem_Serageldin

dv_dt 10y ago

I think that's making a mountain out of a molehill. How many CEOs have even been charged for anything close to that, how many CEOs have been charged at all even when they have been involved. Current case: Wells Fargo CEO.

nerdponx 10y ago

You mean like what happened at Wells Fargo?

cmdrfred 10y ago

You may be certifiably insane. When has that ever happened?