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The Art of The Deal

Posted by labrea 7NYC (My Page) on
Thu, Feb 23, 12 at 20:37

I've posted about this before in regard to Big Pharma & the cost of Doing business. The If we get caught fund we won't have to admit wrong doing & in the long run profits will be bigger than fine.!
Mary L. Schapiro, the S.E.C. chairwoman, added that repeat offenders remained a problem because “people have short memories” on Wall Street. That forces the commission to bring many of the same types of cases “so that people don’t forget that they have these obligations and that somebody is watching and somebody is willing to hold them accountable.”

Schapiro explains that defendants won’t settle if they have to admit wrong-doing, because then they would face civil suits. She also says that the SEC only settles when it gets at least as much as it could expect if it tried the cases. These two ideas are also contradictory. The SEC can win all kinds of damages, including disgorgement, in a fraud case. Disgorgement means that the defendant has to pay back the money it swindled, cheated and defrauded people out of. So, if the SEC is getting all the money it could get if it won the case, what more could a private party get?

This is so much garbage when the guy on the street gets pepper sprayed of taserd.

Here is a link that might be useful: So much Garbage

Follow-Up Postings:

RE: The Art of The Deal

And I was just wondering again today where the idea that not admitting fault in anything came from...

From the largest corporations on Wall Street, to the average citizen, there's this idea that somehow admitting to being human and erring is somehow the worst thing anyone can possibly do!

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