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(Sydney Morning Herald)   Why it is always best to be the first one to flip: JP Morgan VP pleads guilty to a bid-rigging scheme involving municipal bonds and gets no jail time, no fines and no probation-because he cooperated with the feds to rat out his co-conspirators   (smh.com.au) divider line 31
    More: Interesting  
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1055 clicks; posted to Business » on 19 Dec 2013 at 10:59 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



31 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2013-12-19 11:02:57 AM  
Please leave the guy alone.  I bet his trophy wife can't look anyone in the face now and their forced to hide in their meager 50 million dollar home.  You should pity them!
 
2013-12-19 11:05:40 AM  
Don't be surprised when an investment banker knows how to play the Prisoner's Dilemma.
 
2013-12-19 11:06:38 AM  
Next time he orders spaghetti with marinara sauce, he'll get egg noodles and ketchup.
 
2013-12-19 11:10:49 AM  
Our criminal justice system long ago stopped  being about trying to re balance the scales and right wrongs and restore fairness.  Now it's basically Amway.   the more important a criminal you become,  the more ruthless you are about betraying former associates and underlings, the better you are rewarded.   No Matter what you may have done personally,   if you can give up a dozen guys  in trade, you can get a walk or Near walk from the DOJ.

The poor low-level schlub that don;t know nothin'?  HE"S the one who takes it in the shorts and gets the draconian sentence.
 
2013-12-19 11:13:35 AM  
To be fair, probation wouldn't do help society -- if anything, we'd want to get people like him out of the NYC metro area where all the finance people work.
 
2013-12-19 11:19:31 AM  
To be fair, he's probably suffered from affluenza his whole life.
 
2013-12-19 12:05:11 PM  

Arkanaut: To be fair, probation wouldn't do help society -- if anything, we'd want to get people like him out of the NYC metro area where all the finance people work.


lilbjorn: To be fair, he's probably suffered from affluenza his whole life.


To be fair, we should beat him with a stick, then sodomize him with the stick, then make him eat the stick.

Then he can go.
 
2013-12-19 12:08:19 PM  

Magorn: Our criminal justice system long ago stopped  being about trying to re balance the scales and right wrongs and restore fairness.  Now it's basically Amway.   the more important a criminal you become,  the more ruthless you are about betraying former associates and underlings, the better you are rewarded.   No Matter what you may have done personally,   if you can give up a dozen guys  in trade, you can get a walk or Near walk from the DOJ.

The poor low-level schlub that don;t know nothin'?  HE"S the one who takes it in the shorts and gets the draconian sentence.


we dont have a justice system. never have. stop calling it that.
we have a LEGAL system, which is a completely different animal
 
2013-12-19 12:33:55 PM  

Lochsteppe: Arkanaut: To be fair, probation wouldn't do help society -- if anything, we'd want to get people like him out of the NYC metro area where all the finance people work.

lilbjorn: To be fair, he's probably suffered from affluenza his whole life.

To be fair, we should beat him with a stick, then sodomize him with the stick, then make him eat the stick.

Then he can go.


I'll use that as my rule of thumb from now on.
 
2013-12-19 12:37:25 PM  
Prison is only for the common joes not the bankers running things.
 
2013-12-19 01:00:05 PM  
The Obama administration has made it clear that the rich are not to be criminally liable.
 
2013-12-19 01:16:17 PM  
"Lawyers can steal more money with a briefcase than a thousand men with guns and masks."

-Don Vito Corleone"

 I guess Don Vito left out bankers?
 
2013-12-19 01:19:05 PM  

Magorn: Our criminal justice system long ago stopped  being about trying to re balance the scales and right wrongs and restore fairness.


I used to prefer to think of it as the 'legal system', given that justice is only an occasional byproduct, but with the continual rollback of rights combined with very selective zeal for enforcement of laws these days now I just think of it as "The System"
 
2013-12-19 01:19:46 PM  

Nemo's Brother: The Obama administration has made it clear that the rich are not to be criminally liable.


As opposed to how it worked under silver-spoon George, where neither the rich nor the powerful ever suffered.

(Heckuva job, Libby!)
 
2013-12-19 01:50:32 PM  

Approves.


albertspeerpersonalitystudy.files.wordpress.com

 
2013-12-19 01:51:25 PM  
He has to pay a $300 special restitution fee. Isn't that enough for you people?
 
2013-12-19 03:23:53 PM  
Well, looka here buddy, you wanna be like me -
whip out your six-shooter, and rob every bank you can see......
Tell the judge i said it was all right.
-Bob Dylan

- Rand Paul
 
2013-12-19 03:37:11 PM  
DNRTFA, but isn't that what Plea Bargaining is all about?  Take one guy and give him a slap on the wrist so you can unravel the entire group?
 
2013-12-19 03:42:17 PM  
spiritofthething.files.wordpress.com

Flip ya...   Flip ya for real.
 
2013-12-19 03:58:21 PM  
So the other guys are going to be punished severely?
 
2013-12-19 04:40:14 PM  

FrancoFile: Don't be surprised when an investment banker knows how to play the Prisoner's Dilemma.


Well played.

Lochsteppe: To be fair, we should beat him with a stick, then sodomize him with the stick, then make him eat the stick.

Then he can go.


imokwiththis.jpg
 
2013-12-19 05:06:36 PM  
I wonder if he will ever be able to find a job now? No firm would want to hire a rat like that. He sent their golfing buddies on a vacation to club fed.
 
2013-12-19 06:12:17 PM  

2wolves: Lochsteppe: Arkanaut: To be fair, probation wouldn't do help society -- if anything, we'd want to get people like him out of the NYC metro area where all the finance people work.

lilbjorn: To be fair, he's probably suffered from affluenza his whole life.

To be fair, we should beat him with a stick, then sodomize him with the stick, then make him eat the stick.

Then he can go.

I'll use that as my rule of thumb from now on.


Don't be afraid to use a stick wider than your thumb.

img156.imageshack.us

/administrator of parts 1 and 2
 
2013-12-19 06:15:03 PM  

FullMetalPanda: Please leave the guy alone.  I bet his trophy wife can't look anyone in the face now and their forced to hide in their meager 50 million dollar home.  You should pity them!


A VP at JP Morgan is hardly destitute, but he's strictly middle of the stack when it comes to authority. There are probably five layers of management between him and the CEO.

/not white knighting, just level setting
 
2013-12-19 06:22:39 PM  

FrancoFile: Don't be surprised when an investment banker knows how to play the Prisoner's Dilemma.


bah.  came here to post this:

i.imgur.com

/congrats
 
2013-12-19 07:26:18 PM  

Magorn: Our criminal justice system long ago stopped  being about trying to re balance the scales and right wrongs and restore fairness.  Now it's basically Amway.   the more important a criminal you become,  the more ruthless you are about betraying former associates and underlings, the better you are rewarded.   No Matter what you may have done personally,   if you can give up a dozen guys  in trade, you can get a walk or Near walk from the DOJ.

The poor low-level schlub that don;t know nothin'?  HE"S the one who takes it in the shorts and gets the draconian sentence.


I was totally confused by the Amway reference until I Bing'd and saw Amway bigwig arrests in India. Holy crap you are well read!
 
2013-12-19 07:41:30 PM  

sdd2000: "Lawyers can steal more money with a briefcase than a thousand men with guns and masks."

-Don Vito Corleone"

 I guess Don Vito left out bankers?


He was the banker.
 
2013-12-19 07:43:59 PM  

Vlad_the_Inaner: FrancoFile: Don't be surprised when an investment banker knows how to play the Prisoner's Dilemma.

bah.  came here to post this:

[i.imgur.com image 300x309]

/congrats


IRL you get your lawyer to do the deal before you spill the beans, so even if the other guy confesses you're okay. Remember, do the deal, THEN confess. Never confess then ask for a deal.
 
2013-12-19 08:26:43 PM  
It's worth a lot more to the prosecutor to have someone spill the beans on everyone in return for lenience than to get nothing. Especially if you know there are people who are have a lot more to answer for than the person in question. At the end of the day, they still have the conviction on their record, and you've got a lot of names.
 
2013-12-19 09:45:56 PM  

WhyteRaven74: It's worth a lot more to the prosecutor to have someone spill the beans on everyone in return for lenience than to get nothing. Especially if you know there are people who are have a lot more to answer for than the person in question. At the end of the day, they still have the conviction on their record, and you've got a lot of names.


Same concept as drug busts. Keep pressure on the bottom until you get a bigger fish.

And I wouldn't be sad if this situation plays out the same way that gangs deal with informants.
 
2013-12-20 02:08:28 AM  

Magorn: Our criminal justice system long ago stopped  being about trying to re balance the scales and right wrongs and restore fairness.  Now it's basically Amway.   the more important a criminal you become,  the more ruthless you are about betraying former associates and underlings, the better you are rewarded.   No Matter what you may have done personally,   if you can give up a dozen guys  in trade, you can get a walk or Near walk from the DOJ.

The poor low-level schlub that don;t know nothin'?  HE"S the one who takes it in the shorts and gets the draconian sentence.


To be fair, if he was a mentally ill person with a low IQ who could not understand what he was doing for the feds, they would have charged him too, so at least the law applies to everyone in most cases.
 
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