Bernie Ebbers

[Kreed]

I think Bernie got screwed w/ 25 year-sentence. This over-reaching by
judges --- well, they're the judicial activists. First, all estimates of How
Much was Lost in WorldCom stock & pensions is WILDLY exagerrated;
Second, Of what possible use will Bernie be behind bars? Why not let him
teach poor whites & blacks & hispanics How to do business start-ups? Third,
aren't investors "guilty" of greed & stupidity. I don't know of anyone on Wall St
who was fooled by WC's "books" but MR & MRS AVERAGE PERSON just had to
grab the brass ring. And professional comptrollers, like NY's Hevesi, stupid from birth forward, cries "fraud" whenever he picks wrong. Of course, now you'll see MCI being touted by greedy gurus. PS: I will light a candle for Bernie tonight
at St Pat's on route to a Bastille Day party.

[Bobby]

he's just a businessman :D

[lsbets]

Wait a minute - I thought corporate crime didn't get punished under the Bush administration. How could he have been given a 25 year sentance?

[JustRalph]

Absolutely amazing.........tell it to these people Derek.......

http://www.bizjournals.com/columbus/stories/2002/06/24/daily50.html

Bernie Absconded with 10 Billion.....and many of the people mentioned in the article above did not receive their vacation and severence pay............some of these guys used to work for me. I knew many of them who moved to Worldcom after several years working under me. They moved a mile up the road for the "brass ring" that was promised to them by Worldcom. After the fallout they were really hurting. I was fielding phone calls from them looking for their old jobs back. It wasn't fun having to tell them that I had no place for them.

"I don't know of anyone on Wall St who was fooled by WC's "books" but MR & MRS AVERAGE PERSON just had to grab the brass ring "

The above quote is indefensible. I will write it off to the fact that you are Wall Street insider, or claim to be, and you feel disdain for "Mr and Mrs. Average" who by the way, are responsible for propping up these companies and therefore subsidizing your ilk.........I am sure you would never let that little fact get in the way of a good dinner party or drinks after work with your wall street buddies.

[so.cal.fan]

I agree, JR
People are just fed up with these "elitists", be they the John Kerrys of politics or the crooked CEOs or the arrogant Wall Streeters.
May we remind you......we keep you all in a "job".

[Secretariat]

I agree, JR
People are just fed up with these "elitists", be they the John Kerrys of politics or the crooked CEOs or the arrogant Wall Streeters.
May we remind you......we keep you all in a "job".

What does John Kerry have to do with Bernie Ebbers, and the prosecution of corporate crime? I actually applaud the Bush admininstration on this prosecution. I have no sympathy for Ebbers, or his tears. Just think about the people who are crying without their retirement money he absconded with. Good job.

Now on to Kenny boy. Then hopefully Helliburton.

[so.cal.fan]

Sec,
Kerry has nothing to do with Ebbers as far as I know, my point was the public's perception of "elitists" This is one of the main reason the Dems lost the election in '04.
People didn't warm up to Kerry and Heinz Kerry.....they were too far out of touch with the people they wanted votes from.
I agree on K.L. He had better get as stiff a jail term as Ebbers.
I was also glad to see that old bastard who stole from Adelphia get 10 years, even though he was 80 years old.
The people are sending messages to these crooks.....it will NOT be tolerated.
Richard Nixon was an elitist....he thought he was above the people who elected him. He discovered he was not.

[kenwoodallpromos]

but MR & MRS AVERAGE PERSON got screwed by your friends on Wall Street eho mismanaged retirement funds ny stupidity and greed and rip off fees. There are probablt hundreds of fund managers in banks and other places whi should be in prison alongt with Ebers.
Some people are stupid, most get conned.
Someone I knopw invested in a 3-person corp (ex-IRS and AA degree Grad!)fraud that I saw all the way- they set up a dairy wholesale business, 3rd person owned 1 grocer in Vegas whjere they sold the goods, got investors to cough up 1.5 million to start, got6 a USA military contract to supply 3,000 PX's (no way without at least 10 mil). After many more invested in the now IPO the 2 started divesting 4 times until they drained the stock dry and everyone else lost their money. It was frauid from the beginning.
Lucky I knew how to research and was in Navy supply so I did not invest!

[Kreed]

"Elitists" and "Insiders" ---- umm, but how about what I posted? Let me
amplify. #1, I don't think Ebbers is guilty off FRAUD, not hardly. His background
was NOT in business -- and trust me on this, almost every chairman of a major
corp is business-trained from birth, but not Ebbers. The CEO & CFO --- look
there for fraud (if fraud happened, which was likely). #2 ... the guy LOST
big money --- a sure sign of incompetence, but NOT fraud. #3 ... Almost
every Wall St investment bank, because they have in-house EXPERTS on major industries (telecommunications) just KNEW that WC's financials did not add up.
That was not inside info, but widely known. Many state pension funds, run by state comptrollers, ignored widely known info & kept on asking for more gravy, and recall, that from say '94 to '99 they got large returns. So what did Hevesi do? kept right on doubling down. So, there's my take on Ebbers, NO FRAUD, but panic reactions to growing financial meltdown. PS: If you ever get a chance to hold a corp tax return (or the supporting financials pre-return) from a major corp like WC, use both hands. My company's is about 400 pages & the details take about 50 boxes to hold.

[Secretariat]

Sec,
Kerry has nothing to do with Ebbers as far as I know, my point was the public's perception of "elitists" This is one of the main reason the Dems lost the election in '04.
People didn't warm up to Kerry and Heinz Kerry.....they were too far out of touch with the people they wanted votes from.
I agree on K.L. He had better get as stiff a jail term as Ebbers.
I was also glad to see that old bastard who stole from Adelphia get 10 years, even though he was 80 years old.
The people are sending messages to these crooks.....it will NOT be tolerated.
Richard Nixon was an elitist....he thought he was above the people who elected him. He discovered he was not.

My issue was your tying Kerry within an Ebbers thread, Ebbers,who is a man just sentenced for a felony..and this tie in seems to be about some kind of "elitism." I could easily have said Bush is the biggest elitist out there, just like Ebbers. Simply because Kerry married the wife of a former Republican Senator doesn't make him an elitist, and certainly doesn't in any way tie him to Ebbers.

[ljb]

Wait a minute - I thought corporate crime didn't get punished under the Bush administration. How could he have been given a 25 year sentance?
Must have been another one of them darn activist judges. :D :D :D

[Dave Schwartz]

I hope the message being sent here is that there will be real consequences for white collar crime. That has certainly not been the case in the past.

An old friend said it very well in comparing the Enron-type criminals to a kid snatching an old lady's purse just after she cashed her social security check. He said that the kid will do 24 months of hard time for stealing $400 bucks and ruining the lady's month while the white-collar criminal will get a slap on the wrist or six months in a federal "country club" for ruining a thousand retirees' lives.

It just does not make sense.


Regards,
Dave Schwartz

[Secretariat]

Well said Dave. Total agreement.

[JustRalph]

#1, I don't think Ebbers is guilty off FRAUD, not hardly. His background was NOT in business -- and trust me on this, almost every chairman of a major corp is business-trained from birth, but not Ebbers. The CEO & CFO --- look there for fraud (if fraud happened, which was likely).

Well apparently a whole gaggle of prosecutors and an informed well versed jury who heard evidence for several weeks disagreed with you. But I am sure if you email them and explain your logic.........they will vacate the verdict and you and Bernie can make the Hampton's by 6p tonight for dinner..............

[Kreed]

Yes, JR, thats your funniest post but you still DONT get the message.
Perhaps you NEVER will. In the Hamptons only the laborers eat dinner @ 6. For
us others, Its Dinner at Eight (or later). (Tonight its Bobby Vans at 9pm, table for 6.) And Yes, I think Bernie would make a great addition. BTW, I still dont
get what makes this board wiggle: I posted the Chinese & Unocal & all I see
is one Inane reply. Where are you NeoCons, Righties, BiblePageFlippinG Bots?
I beleive YOU politicize the fringe topics (which will NEVER be obeyed) and
IGNORE the issues that MUST be politicized. imo, CHINA is our Enemy, so
forget that your potato peelers are stamped "made in China" --- thats not the
threat.

[toetoe]

Derek,

Shouldn't incompetence, bordering on criminal negligence, be punished? Wouldn't holding BE accountable make it into your pamphlet,
"Adult Responses To Situations?"
And what of Martha? Surely she's a witch, but should her witch hunt be more bloodthirsty than that of BE?

[Tom]

I thinkt he death penalty was in order.
He destroyed many people's lives. He should pay the ultimate price.
He is/was a worhtless POS and his live has no meaning. Kill the bastard. Send his wife the electric bill.