Attitudes that Many on Wall Street would call Acceptable
 

We finally know why HP so properly canned their president Mark Hurd. From ABC News on 30 Dec 2011: Meanwhile Larry Ellison of Oracle decided this was acceptable. And hired Hurd as a co-president.

Maybe Larry feels encouraged knowing the Hurd is a player and thinks he may be lucky

Either that or Larry was impressed with his checking account.

Fixed that for ya.

I didn't really know where to put this but....

http://www.nytimes.com/2012/03/14/op...ewanted=1&_r=1

.
Also his last day at work... period.
No one will hire him after putting his name on such an public piece.

But then, it is sad that workplaces can change that way,
and that pride in work gets swallowed by the $-monsters.

I've also seen it happen, not in banking, but in health care.
Some young people go into medicine to make lots of $, but I think most do not.
But patient care and quality of research are the first easy victims of the MBA's.
.

I've written a similar piece about every place I've ever worked and left, but the Times has not taken an interest.

My pieces would read something like this

I'd hire him. In fact, I don't think he'll have any trouble getting a job -- or going off on his own and bringing a lot of clients over.

Ho hum. Nothing new. All that is expected and normal when profits are the purpose of the company or organization. As was true with Fiorina in HP. Or Whitmore or Perez in Eastman Kodak. Allen of AT&T. Surma of US Steel. Wagoner and Roger Smith of GM. Scully and Splndler of Apple. Nardelli in Home Depot and Chrysler. Henry Ford or Jacque Nasser in Ford. Cannavino and Akers in IBM. Frazier of Merek. Corzine from Goldman Sach who later did nothing as NJ Governor and then raided customer's investment accounts to cover up his losses in derivatives.

Well proven is why financial oganizations can never be over regulated. Goes right the conflict between Lookout and me. I defined the problem. He took offense because he was part of the problem. A conflict and anger that he has recently confirmed again. Because only the product is important. Profits are only a metric; clearly not the purpose.

Very little difference exists between a company that believe profits are its purpose. And mafisos families, stock brokers, communist governments, dictatorships, and loan sharks. In every case, the purpose of that organization is to enrich themselves. Screw the customer, productivity, employees, the law, or the principles that made America great. One need only view Cheney to appreciate an attitude that creates corruption. That even justified torture.

Only reason that posted article is shocking: some are still so naive as to not realize why this recession even exists. Why those employees have that routine attitude promoted by Wall Street. Why the rich are getting richer at the expense of all others. They actually think their wealth and income is more important than anything else. More important than America. They are corrupt. They have no idea what makes a productive business. Would not know innovation if it was stuck up their nose. And don’t care.

Ivan Boesky publically admits he had that same corrupt attitude. His corruption was the basis for Gordon Gekko. Jack Abramoff of the famous K Street scandal now openly admits how corrupt he once was. That corruption was so routine that he did not even know his attitude was corrupt.

We are nothing more than dumb sheep to be fleeced. Those I went to school with who later became those stock brokers were typically some of the poorest students. But then even criminal minds are not known for their intelligence.

His NY Times article only says why the California energy crisis was created. Why those criminals went unprosecuted. Why it took humiliation from the state of Oklahoma before George Jr would prosecute Enron. But then George Jr was also educated by the same corrupt philosophies.

The purpose of any company is its product. For profit and non-profits alike. An honest executive must even know how to use the product because that is their #1 purpose. To advance mankind. To provide customers with better products. To do what William Edward Deming so bluntly defined. Employees in GS could not even bother to know what products were. Their only purpose was to enrich themselves – which is routinely advocated on a Wall Street that cannot invest in innovation and productive businesses. Who were so corrupt as to even finance Eastman Kodak’s buggy whip business.

Why is Deming an enemy of business schools? Business schools created those examples in Goldman Sachs. Legalized corruption. People so pathetically immoral as to think the purpose of a company is only its profits. The article only demonstrates what everyone here should have known years ago.

Obviously Greg Smith is so appalled at what is normal and acceptable business practices as to endanger any future employment. To remind every reader how corrupt Wall Street is. But then everyone in the Cellar should know that by now. Once upon a time, Wall Street was how innovation got financed to create great American institutions. Now it is where some of the greatest criminal types pinch $millions at the expense of all other Americans. Because only the most corrupt would think the purpose of a business is profits. Notice how many above are corrupt and therefore enriched.

^^^Ho hum. Nothing new.^^^

That threads almost ready for the 4 year bump.

As usual, another post that says nothing. Classicman - ever since you were fired, you have become particularly nasty.

Either you are referring toy your own post or you missed the link I provided with the historical content from your statement.
Just tryin to help.

Actually I am most pleased not to work for that tyrant any longer.
There are other issues, but that isn't one of them.


By the way - you never thanked me for correcting your historically inaccurate post about Nixon and the Watergate scandal.
No prob buddy. I got yer back.

If the Chief Justice name was relevant, then you would have provided it. Correct. Earl Warren was not the Chief Justice. It was Warren Burger. Does not change what was relevant meaning it was not worthy of discussion.

Then why did you provide the wrong one in the first place?
That is not a logical excuse.

But its ok pal. No worries.

For the same reason you did not bother to provide the correct Warren.

:lame:

Meanwhile, next time you have my back, could you do it with a knife that was not so rusty?

:haha: Sure, but that wasn't rust.

Thats the kind of post worth reading. Succinct and to the point.

You pervert!

From MarketWatch.com entitled Volcker blames Goldman trading for culture change:
Volcker was the Federal Reserve chief who finally solved a previous major recession in late 1970 by doing what others (ie President Ford) was unwilling to do. He raised interest rates so that commercial rates were about 20%.

From the Washington Post entitled Goldman Sachs fights back against claims of toxic environment
The Volcker Rule was originally proposed to restrict United States banks from making speculative investments that do not benefit their customers. Widely acknowledged is that speculative activity help create the recession we have today by enriching financial institutions at the expense of the economy. In essence, the rule is a ban on proprietary trading by commercial banks, where deposits are used to trade on the bank's personal accounts.

This problem was why Glass Stegall was created after 1929 banks did this same sort of fiscal shenanigans to create the same fiscal disaster. Glass Stegall was virtually eliminated in the early 2000s when financial institutions claimed regulations were harmful to the economy.

Guess who got it completely wrong. Financial institutions can never be over-regulated. Greg Smith’s Op-Ed in the NY Times only confirms what is obvious.

Which brings us back around to the fact that Goldman Sachs provides the regulators as well. It is very cozy and very anti-taxpayer/citizen.

Well said Griff. This goes to the thought that the Gov't cannot do this.

The difference that Greg Smith noted. Fifteen plus years ago was Paulsen who later properly addressed the near meltdown of the American economy. Latest Goldman Sachs presidents included Corzine whose company apparently raided customer accounts to cover up derivative losses in Europe. Last I heard, they are still looking for much of that money.

The attitude of Goldman Sachs employees sounded so much like the Enron traders who gleefully created the California Energy crisis to enrich themselves knowing full well that they were even harming granny. They did not care. They were the bean counters whose only purpose in life is to enrich themselves at the expense of all others. Also the definition of a criminal.

Ummm....
Is that what you meant to say... that gov't can not regulate?
But business can/should regulate itself ?

I read Griff's post as the G-S providing people to be regulators was more or less a conflict.... i.e., too cosy a situation.

Yes that is what I said, for the reason Griff stated.
The Gov't would probably be better appointing people who know nothing of the industry in question and letting them do it "from a book.

Take the banking industry. How many appointees and whatnot of this, and the former, administration are from Goldman Sachs, for example?

I think he meant the government shouldn't be hiring wolves to guard the flock especially if they're going back to the pack after retirement. I think...

oops, guess you just said that

thanks.
There are DOZENS of them - in addition to those who donated and still are donating to him.
Obama’s 2008 campaign received $42 million from Wall Street bankers and insiders.
That was more than any other candidate in history! Shortly thereafter, the appointments started... Coincidence? I think not.

Hey, unanimity among Dwellars... never before has such a thing happened !

So things"ll change...:eyebrow:

It displays the hypocrisy of the left who tend to think that "their team" is somehow better, more moral, caring or or or ... than the "other team."
Its politics and they are both/all using the little people.
Not a "glass half full view" just reality.
Until more people get off the "team" game, nothing will change.
Even then, I'm not sure. Now where's my pitchfork!

Well, that didn't last long, did it. :D

Especially when 'left' and 'right' are myths. Only moderates and extremists exist. Moderates do not invent and need bogeyman to justify righteousness.

Honest people do exist even on Wall Street. Problems stem from empowerment of dishonest people by one simple and corrupt concept. The purpose of a company is its profits. Never was. But then some also believe greed is good. Greed and accomplishment are somehow same concepts? In corrupt organizations that nurture and promote corrupt people.

Contracts and other business transactions must result in both parties prospering. Any transaction designed to screw the other party is a perfect example of corruption. Too many on Wall Street believe they must even make profits at the expense of their counterparty. Corruption.

And this administration has borne that out as previously stated here.

OMG?!?!?!?! Did tw really just take a justifiable shot at his beloved Obama?
Can it be? Retraction/deflection in 5...4...3...2...

Which demonstrates that, despite overt and publically encouraged corruption, many on Wall Street are still honest and ethical. And want government that advances the country and mankind.

Demonstrates that some from Wall Street still have an attitude and fundamental grasp necessary to even become a good regulator. Many on Wall Street desire and appreciate heavy regulation due to a venue widespread with corruption.

We know this economy was saved by a combination of responsible and informed people including some from Wall Street. We know this economy was truly on the precipice because wacko extremists did so much harm due to low intelligence or their political agenda. Same people who sent 5000 American soldiers to unnecessary deaths in Mission Accomplished also said they want Obama and America to fail. No wonder people who have ethics want noderates; leaders with intelligence. Not a political agenda or religious doctrine.

How to identify those manipulated by a political agenda? They play political games of 'left' and 'right' rather than learn facts, honesty, and ethics.

The purpose of any honest business is its product and the resulting advancement of mankind.

The rest went to work for the Obama administration or as lobbyists. :neutral:
We are talking about attitudes on Wall Street, not the same old spin & deflection again.
Perfect, thank you for that. As anticipated in the bottom of this post.

The more you scream moderate, the more evident it is that you are anything but.
Through the sale of its products and/or services, perhaps?
What a frikkin concept.

Griff, not to dispute your post, but where did you find this ?

I've been surfing, and I've found articles regarding hiring the other way around,
which also bothers me. It's akin to legislators becoming lobbyists when they leave office.

Business Insider
Katya Wachtel
December 15, 2010|

Meet Theo Lubke: The Regulator That Goldman Sachs Just Hired To Fight Off Other Regulators
.
and
.
Bloomberg News
12/14/2011
Goldman Sachs Recruits French-Speaking Regulator From FSA

wiki

Personnel "revolving-door" with U.S. government

During 2008 Goldman Sachs received criticism for an apparent revolving door relationship, in which its employees and consultants have moved in and out of high level U.S. Government positions, creating the potential for conflicts of interest. Former Treasury Secretary Paulson was a former CEO of Goldman Sachs. Additional controversy attended the selection of former Goldman Sachs lobbyist Mark Patterson as chief of staff to Treasury Secretary Timothy Geithner, despite President Barack Obama's campaign promise that he would limit the influence of lobbyists in his administration.[82] In February 2011, the Washington Examiner reported that Goldman Sachs was "the company from which Obama raised the most money in 2008" and that its "CEO Lloyd Blankfein has visited the White House 10 times."[83]

That's very incomplete. Rubin is GS


Salon
Apparently,[i] the U.S. government didn’t have enough Goldman Sachs executives in key financial and regulatory positions, so the following happened this week:

A Goldman Sachs executive has been named the first chief operating officer of the Securities and Exchange Commission’s enforcement division.

The market watchdog says Adam Storch, vice president in Goldman Sachs’ Business Intelligence Group, is assuming the new position of managing executive of the SEC division.

The move comes as the SEC revamps its enforcement efforts following the agency’s failure to uncover Bernard Madoff’s massive fraud scheme for nearly two decades despite numerous red flags.[/]


I can't vouch for this site but I was looking for a list.

http://www.nachumlist.com/goldmansachsobama.htm

A Conservative News and Opinion Resource

Nachumlist

Goldman Sachs personnel in the ObamaWhite House



Lael Brainard: Brainard is the United States Under Secretary of the Treasury for International Affairs in the administration of Obama

Gregory Craig: Former White House Counsel, Recently hired by Goldman Sachs

Thomas Donilon: Deputy National Security Adviser(despite having a career that is mostly involved with domestic politics). Donilon was a lawyer at O’Melveny and Myers and made almost $4 million representing meltdown clients including Penny Pritzker (of Chicago) and Goldman.

William C. Dudley : president and chief executive officer of the Federal Reserve Bank of New York, partner and managing director at Goldman, Sachs and was the firm’s chief U.S. economist for a decade

Douglas Elmendorf: Obama Director of the Congressional Budget Office in January 2009, replaced Furman as Director of the Hamilton Project (Note that the Hamilton Project was funded by Robert Rubin and Goldman Sachs)

Rahm Emanuel: Obama Chief of staff, on the payroll of Goldman Sachs, receiving $3,000 per month from the firm to “introduce us to people,” in the words of one Goldman partner at the time.

Dianna Farrell: Obama Administration: Deputy Director, National Economic Council, Former Goldman Sachs Title: Financial Analyst

Stephen Friedman: Obama Administration: Chairman, President’s Foreign Intelligence Advisory Board, Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005

Michael Frohman: Robert Rubin’s Chief of Staff while Rubin served as Secretary of the Treasury and an Obama “head hunter” according to “Rubin Proteges Change Their Tune as They Join Obama’s Team” in the New York Times.

Anne Fudge: appointed Fudge to Obama budget deficit reduction committee. Fudge has been the PR craftsman for some of America’s largest corporations. She sits, according to the Washington Post, as a Trustee of the Brookings Institution within which the Hamilton Project is embedded.

Jason Furman: directed economic policy for the Obama Presidential Campaign, served as the second Director of the Hamilton Project after Peter Orszag’s departure for the Obama administration

Mark Gallogly: Sits on the Hamilton Project’s advisory council. He is also, according to Wikipedia, currently a member of Obama’s President’s Economic Recovery Advisory Board.

Timothy Geithner: Secretary of the Treasury, a former managing director of Goldman Sachs

Gary Gensler: Obama Administration: Commissioner, Commodity Futures Trading Commission, Former Goldman Sachs Title: Partner and Co-head of Finance

Michael Greenstone: the 4th Director of the Hamilton Project. Just as attorney Craig went from advising Obama to defending Goldman Sachs against the SEC complaint, Greenstone has used the revolving door to go from went an economic adviser position to Obama to one of the Goldman Sachs outlets, in this case its think tank embedded in the Brookings Institution and funded by Goldman and Robert Rubin. All 3 previous Directors of the Hamilton Project work in the Obama administration.

Robert Hormats: Obama Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State DepartmentFormer Goldman Sachs Title: Vice Chairman, Goldman Sachs Group

Neel Kashkari: served under Treasury Secretary Paulson and was kept on by Obama after his inauguration for a limited period to work on TARP oversight, former Vice President of Goldman Sachs in San Francisco where he where he led Goldman’s Information Technology Security Investment Banking practice.

Karen Kornbluh: (sometimes called "Obama’s brain") Obama Ambassador to the OECD, was Deputy Chief of Staff to Mr. Goldman Sachs, Robert Rubin

Jacob (AKA "Jack") Lew: the United States Deputy Secretary of State for Management and Resources. According to Wikipedia, Lew sits on the Brookings-Rubin funded Hamilton Project Advisory Board. He also served with Robert Rubin in Bill Clinton’s cabinet as Director of OMB.

David Lipton: now at Obama’s National Economic Council and the National Security Council. Lipton -worked with Larry Summers and Timothy Geithner, on the US response to the Asian financial crisis of the 1990’s. MergeFoundations reports that Lipton worked closely with Robert Rubin:

Emil Michael: White House Fellow, former investment banker with Goldman Sachs

Eric Mindich: Former chief strategy officer of New York- based Goldman Sachs, started Eton Park in 2004 with $3.5 billion, at the time one of the biggest hedge-fund launches ever. .....Hank Paulson Tipped Off The Goldman-Led "Plunge Protection Team" About Fannie Bankruptcy 7 Weeks In Advance (2007): Goldman operative Eric Mindich in the hierarchy of the Asset Managers' committee of the President's Working Group on Capital Markets, better known of course as the PPT (in 2009)

Philip Murphy: Obama Administration: Ambassador to Germany, Former Goldman Sachs Title: Head of Goldman Sachs, Frankfurt

Barack Obama: Obama owes his career to Goldman Sachs which was not only his biggest financial contributor when he ran for the presidency but also his biggest contributor when he ran for the Senate

Peter Orszag, Obama Budget Director, founding director of the Hamilton Project, funded by Goldman Sachs and Robert Rubin. Wikipedia indicates that Robert Rubin, Goldman’s ex-head, was one of Orszag’s mentors.

Mark Patterson: Obama Administration: Chief of Staff to Treasury Secretary, Timothy Geitner, Former Goldman Sachs Title: Lobbyist 2005-2008; Vice President for Government Relations

Mark Peterson: Chief of staff to Timothy Geithner, Goldman Sachs vice president and lobbyist

Steve Ratner: the shady billionaire financier who Obama appointed as his “car czar” and who resigned after it was revealed that his company, the Quadrangle Group, was apparently involved in “pay to play” for a billion dollars or so of New York State pension funds, and was under possible indictment by the New York AG and the SEC, also sits on the Advisory Council of the Goldman funded Hamilton Project

Robert Reischauer: a member of the Medicare Payment Advisory Commission from 2000-2009 and was its vice chair from 2001-2008. He too sits on the Hamilton Project’s advisory board.

Alice Rivlin: Obama named Alice Rivlin to his so called deficit reduction commission.

James Rubin: Son of Robert Rubin. Served as a headhunter for Obama per the New York Times article, "Rubin Proteges Change Their Tune as They Join Obama’s Team"

Gene Sperling: advisor to Timothy Geithner on bailouts, Sperling paid by Goldman Sachs for one year of consulting work.

Adam Storch: Obama Managing Executive of the Security and Exchange Commission’s Division of Enforcement Vice President in the Goldman Sachs Business Intelligence Group

Larry Summers: Obama chief economic adviser and head of the National Economic Counsel, Worked under Robert Rubin at Goldman Sachs

John Thain: Obama Administration: Advisor to Treasury Secretary, Timothy Geitner, Former Goldman Sachs Title: President and Chief Operating Officer (1999-2003)

Under the Bush Adminstration:

Joshua Bolten: Bush II Administration: White House Chief of Staff (2006 – 2009), Former Goldman Sachs Title: Executive Director, Legal & Government Affairs (1994-99)

William C Dudley: NY Federal Reserve: Current President/CEO, Former Goldman Sachs Title: Partner and managing director – 2007

Edward C. Forst: Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008 Former Goldman Sachs Title: Co-head of Goldman’s investment management business

Stephen Friedman: NY Federal Reserve: Former Chairman of the Board – 2009, former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)

Gary Gensler: Bush II Administration: Undersecretary, Treasury (1999-2001) and Assistant Secretary, Treasury (1997-1999), Former Goldman Sachs Title: Partner and Co-head of Finance

Reuben Jeffery III: Bush II Administration: Undersecretary for Economic, Energy and Agricultural Affairs, State Department (2007 –2009) Former Goldman Sachs Title: Managing Partner Paris until 2002 Security Investment Banking Practice

Dan Jester: Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008, Former Goldman Sachs Title: Deputy CFO

Neel Kashkari: Bush II Administration: Assistant Secretary for Financial Stability, Treasury (2008 – 2009) Former Goldman Sachs Title: Vice President, San Francisco; led Information Technology Security Investment Banking Practice

Eric Mindich: Former chief strategy officer of New York- based Goldman Sachs, started Eton Park in 2004 with $3.5 billion

Henry Paulson: Bush II Administration: Secretary, Treasury 2006 - 2009, Former Goldman Sachs Title: Chairman and CEO (1998-2006)

Robert Rubin: Bush II Administration: Secretary, Treasury 1995-1999, Former Goldman Sachs Title: Vice Chairman (1987-90)

Robert Steel: Bush II Administration: Under Secretary for Domestic Finance, Treasury, (2006 – 2008) Former Goldman Sachs Title: Vice Chairman – 2004

Steve Shafran: Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008 Former Goldman Sachs Title: Private equity business in Asia until 2000

Kendrick R. Wilson III: Bush II Administration: Advisor on setting up TARP to Treasury Secretary, Henry Paulson 2008 Former Goldman Sachs Title: Chairman of Goldman’s financial institutions groups

Robert Zoellick: Bush II Administration: United States Trade Representative (2001-2005), Deputy Secretary of State (2005-2006), World Bank President (2007 -), Former Goldman Sachs Title: Vice Chairman, International (2006-07)



Other Noteworthy Appointees:

Mark Carney: Current Title: Governor, Bank of Canada, Former Goldman Sachs Title: Managing Director Goldman Sachs Canada until 2003

Mario Draghi: Current Title: Governor of the Bank of Italy (2006- ), Former Goldman Sachs Title: European Deputy Chairman/Partner until 2006

Edward Liddy: Current Title: AIG CEO, Former Goldman Sachs Title: Board Member (Chairman, 1990-94; Director, 2005-)

Duncan Niederauer: Current Title: Chair/CEO NYSE, Former Goldman Sachs Title: Managing Director – 2007

Romano Prodi: Current Title: Prime Minister of Italy (1996-1998 and 2006-2008) and President of the European Commission (1999-2004), Former Goldman Sachs Title: Paid adviser/consultant 1990 – 1993

Massimo Tononi: Current Title: Italian Deputy Treasury Chief (2006-2008), Former Goldman Sachs Title: Partner 2004 - 2006

Malcolm Turnbull: Current Title: Federal Leader, Liberal Party, Australia, Former Goldman Sachs Title: Partner (1998-2001)

David Watson: Current Title: Monetary Policy Committee, Bank of England, Former Goldman Sachs Title: Chief European economist[/i]

Wow ! Wow ! Wow !
Just as if I opened both ends of all the torpedo tubes at 100 fathoms !

I'm intrigued by the Nachumlist.com and plan to follow it for a while,
if they don't find out there's a lurking liberal and start blocking me :rolleyes:

Thank you...

I never heard of it before Google dug it up. Matt Taibbi (sp?) did an expose' in Rolling Stone which kinda got me thinking about GS. I figured somebody had a complete list out there.

I've seen a few lists. Some have SO MANY names on there, its ridiculous.
Politifact discredited MANY of them back in 2010, but they have, uncharacteristically, stayed away from the issue since then.
One can only wonder why. :rolleyes:

One item of behavior (?) among lists that I find unusual/interesting/curious...

It seems to me that if I go onto certain kinds of websites, often there is a "list of names".
Sort of like Madame Defarge knitting her list for the guillotine.
Maybe it's some kind of "Après la révolution !"

If it's there is no actual list, there seems to be paragraph after
paragraph of sentences linking one name to another to another...,
as if just the association to one another alone is enough for damnation.
One list I came upon by Googling recently had Supreme Court Justice Kagan
as one of the undesirables in the Omaba government.

Maybe I'm just not going to enough of the more "liberal" websites
to see the same phenomenon among them.

But I just don't get it.

If you're going to regulate Wall Street, you have to recruit people who know how it works, where it cheats, and where the bodies are buried.
I just want to know who's checking on the checkers?

That's the basis of a lot of conspiracy theories. I'd guess you could find those types of associations in discussions of the Koch Brothers.

this is a good point. Having worked on Wall Street should not be an automatic condemnation. If this is the standard, why would we bother with the fellow who wrote the letter as he quit?

We can't, more importantly, we shouldn't try to avoid contact with people who've worked on Wall Street ( or big oil or big pharma or defense, whatever) on that basis only. Where would we recruit our leaders from? Sports teams? Joe the Plumber? It is important to have actual expertise in such technical areas in order to have a chance to be competent in such areas.

Who's checking the checkers? Another good point. We are those checkers, ultimately. But there are other checks and balances in our systems of government, auditors, oversight offices, open government laws, etc. WA has a good reputation as an open government, as states go. Laws that reassert the sovereignity of the people to make decisions as to what's important to know and what's not are crucial tools for keeping our elected officials honest. They are just as human as we are after all.

I've completely lost track of which threads followed the securities/mortages fraud of 2008.
So I' putting this article here just because Goldman Sachs has been mentioned.

It's a very interesting read for the background of the SEC court cases,
and I recommend going to the original article in the link below.

This conviction of a mid-level employee may be the lever to open the way
to some higher-ups who were actually more culpable... or maybe not.

Dealbook
SUSANNE CRAIG and BEN PROTESS
8/1/13

Former Trader Is Found Liable In Fraud Case

West Virginia may be leading the way to make CEO's and other upper-level managers accountable for the actions of the company.
But then too, this may have to do more with fiddling with the bankruptcy-laws than with water pollution...

This is a great approach to equal justice.
If a fine stings the little guy, it should sting the big guy too.

Speeding in Finland Can Cost a Fortune, if You Already Have One
NY Times - SUZANNE DALEY - APRIL 25, 2015