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Losing a job is traumatic. Enron though, wasn't about insider trading. Yes several of the guys at the top were charged with insider trading, but they were also
by clarky07 13y ago
Losing a job is traumatic. Enron though, wasn't about insider trading. Yes several of the guys at the top were charged with insider trading, but they were also charged with fraud, money laundering, conspiracy, bank fraud, making false statements to banks and auditors, securities fraud, wire fraud, money laundering, obstruction of justice, among other crimes. Insider trading, not the thing that caused trauma, and in fact I believe most of them were actually acquitted on the insider trading charges. And, fwiw, the guys found guilty of these things did end up with significant prison terms for the trauma they caused.
http://en.wikipedia.org/wiki/Enron_scandal http://en.wikipedia.org/wiki/Enron_scandal
- unfamiliar 13y agoSo despite listing all the extreme damage they did, you still think it is reasonable that they got "significant" prison terms and the guy who stole a wallet gets life?
- clarky07 13y agoWhy does everyone keep minimizing this to stole a wallet? He did more than steal a wallet, and he did it repeatedly. Finally, I've also said that life might be excessive, but significant jail time is reasonable.
- collyw 13y agoIt is still fairly naive to think that it is traumatic to no one.
- clarky07 13y agoYou just suggested that Enron was insider trading so I don't think you have a great handle on what insider trading is. It is not traumatic for someone to enter into a stock trade that they are planning to make. The fact that the person on the other end might know more than you is a fact of life for every stock trade ever made. There are prominent economists that think we should let people insider trade. It is a victimless crime.