The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.

Friday, March 16, 2012

The MF Global Guys Aren’t Going to Jail—They Are Being Paid Bonuses!

Much has been written by financial pundits on the MF Global heist of investor money. It's widely speculated and even documented that the money of investors was just stolen, yet there are no criminal investigations or prosecutions for fraud.
I guess this is the new way to run a company, into the ground that is. One must be rewarded for one’s incompetence and greed otherwise the whole system breaks down. The senior staff at Solyndra just got a bonus so it only makes sense that the big shots at another disaster of crony capitalism, MF Global, get paid too. Client money was taken to cover bad bets made by the firm and some of that money is still missing. Yet Corzine’s buddies deserve big fat bonuses for some reason.
Read the rest here