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A systemic failure doesn't necessarily mean that people should go to jail; Kareem lied about the price of bonds and deserved jail time.
by sgammon 2y ago
A systemic failure doesn't necessarily mean that people should go to jail; Kareem lied about the price of bonds and deserved jail time.
- underlipton 2y agoEveryone lied about the price of bonds, that's why our major investment banks still exist (though, I suppose CS doesn't at this point; that's another story).
- sgammon 2y agoWhat is your point? (1) That others should have gone to jail too, or that (2) Kareem was only doing what everyone else was doing? For (1), were other people prosecuted? Maybe there was insufficient evidence or process issues that got in the way of additional convictions. For (2), how does that excuse a crime? Kareem's story is fascinating for many reasons and I don't find lying about bond prices to be a crime to hate someone over. But, a crime it is, nonetheless.
- Dylan16807 2y agoThe point that was made earlier in the thread is definitely 1. If there was insufficient evidence in every other case, then that's a massive systemic problem we need to fix. And I can't think of any "process issue" that would cause this particular outcome other than "massive corruption".