Guest kawikaho Posted January 7, 2010 Share Posted January 7, 2010 that's the question: http://www.businessweek.com/news/2010-01-04/ex-ubs-banker-birkenfeld-ordered-to-prison-jan-8-update3-.html I thought there would be immunity in these sort of cases. I guess not! In America, it pays to cheat, steal, and lie. You just gotta love all this change you can believe in. Link to comment Share on other sites More sharing options...
Guest kawikaho Posted January 7, 2010 Share Posted January 7, 2010 Not related to the whistle blowing, but along the lines of cynicism in this country: http://www.nakedcapitalism.com/2010/01/geithners-dubious-aig-cover-up.html And here are the emails: http://www.scribd.com/doc/24899682/E-mails-from-N-Y-Fed-to-A-I-G-to-Not-Disclose-Counterparty-Payments Not to politicize here, but it's interesting to see some of the conspiracy theories being spot on. Link to comment Share on other sites More sharing options...
Myth465 Posted January 7, 2010 Share Posted January 7, 2010 Why Is the Whistleblower Who Exposed the Massive UBS Tax Evasion Scheme the Only One Heading to Prison? Here is a much better video. http://www.democracynow.org/2010/1/7/why_is_the_whistleblower_who_exposed Link to comment Share on other sites More sharing options...
Guest kawikaho Posted January 7, 2010 Share Posted January 7, 2010 Yep, seen that and it's a much better summary. Thanks for posting. Link to comment Share on other sites More sharing options...
KFRCanuk Posted January 7, 2010 Share Posted January 7, 2010 60 minutes http://www.cbs.com/primetime/60_minutes/video/?pid=60Xvrz7IZ83xKQO3ISlQawCKbdHt1504&vs=homepage&play=true Link to comment Share on other sites More sharing options...
Myth465 Posted January 7, 2010 Share Posted January 7, 2010 Very interesting never thought I would see another board member watching Democracy Now. LOL Link to comment Share on other sites More sharing options...
Guest kawikaho Posted January 8, 2010 Share Posted January 8, 2010 Are you referring to that posting we had on here awhile back regarding one of the SNS employees? :-) Link to comment Share on other sites More sharing options...
oec2000 Posted January 8, 2010 Share Posted January 8, 2010 This guy "sang" only after he was caught. It appears like he provided info not voluntarily but under pressure from authorities. I wouldn't class him a whistle-blower, whom I would define as one who comes forward with information to highlight wrongful acts, often at some risk to himself. They do it not out of self-interest but in the interest of the common good. This guy's actions are more like that the Galleon insider-trading crew who are cooperating with authorities in the hope that they will get lighter sentences. Link to comment Share on other sites More sharing options...
Guest kawikaho Posted January 8, 2010 Share Posted January 8, 2010 You might want to do some research: http://en.wikipedia.org/wiki/Brad_Birkenfeld Link to comment Share on other sites More sharing options...
Myth465 Posted January 8, 2010 Share Posted January 8, 2010 Based on the interview he is a whistle blower and even if he sang after he got caught why is he doing the most time compared to the people he ratted on. Link to comment Share on other sites More sharing options...
Guest kawikaho Posted January 8, 2010 Share Posted January 8, 2010 Based on the interview he is a whistle blower and even if he sang after he got caught why is he doing the most time compared to the people he ratted on. Exactly. That's the point. It's not like we're saying he shouldn't deserve jail time. I mean, he is a co-conspirator that has failed to oblige the whistleblower protocols. The hypocrisy lies in the fact that none of the egregious frauds went to jail with him! And I wonder why??? I sort of know a guy, a contractor, that did 9 months in the hole for tax evasion. Although he owed quite a bit of back taxes compared to the average Joe, it probably pales in comparison to what these frauds owed. Link to comment Share on other sites More sharing options...
SharperDingaan Posted January 8, 2010 Share Posted January 8, 2010 Keep in mind that there are practical limits to this. To reduce this stuff you really need to materially increase the payoffs to the first ones for talking; which effectively requires the fraud to always be personally massively profitable, otherwise its more profitable to talk. But as with options, the 1st one gets the biggest take ..... the next one less, etc. Wait too long, & you could get nothing. If you're the 'brain' its better that the potential talker have an accident. Of course, if you're good - this can go on for years, & we have entire (global) industries using this as their business model (mafia, drug & war lords, etc). The incentives rise with the increasing 'cost' of business, but you have to be around to collect. And as with any business, if you can improve on the collectability of your debts - you can do a lot more business! SD Link to comment Share on other sites More sharing options...
Guest kawikaho Posted January 8, 2010 Share Posted January 8, 2010 Geithner must go! http://finance.yahoo.com/tech-ticker/latest-aig-revelations-one-more-reason-why-geithner%27s-got-to-go-400369.html;_ylt=Ar9MB2O3B9GBKvuqmZoGm05k7ot4;_ylu=X3oDMTE2OXRkcjI1BHBvcwMxBHNlYwNhcnRpY2xlTGlzdARzbGsDbGF0ZXN0YWlncmV2?tickers=xlf,gs,aig,gle,skf,spy,dia Link to comment Share on other sites More sharing options...
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