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Hope they keep their assets covered.

Discussion in 'The Powder Keg' started by Doglips, Aug 1, 2002.

  1. Doglips

    Doglips G&G Newbie

    Well looks like these 2 are going to play stock broker with bubba and the boys... No matter what happens to can not replace the damage that they have done to the people who have lost their retirement becuase of scume like these people..I have a few guards that are 70+ yrs old some work for something to do..reason to get up in the morning...Im cool with that...there there are thouse who have to work because slime like these 2 (and many more) took their $$. Latly we got the retrees asking about "full time" because the $$ they invested is gone. It breaks my hart to see someone who should be out fishing..shooting playing bingo what ever they want being forced to work just to medical bills ect. Especialy when the fat cats like this will never have to worry about paying their bills. Maybe its me but when I see someone at 70 + (I got one guard whos 85) haveing to work full time becuase of this $hit I just want to grab one of these "white coller" crooks and do very bad things to them in a very violante way. 3.8 BILLION $$ I cant even imagin that kind of $$...the intrest alone would be more that most of us make each year....Im sure these 2 will get country club prison or probation...something easy. Even if they went to the big house they got the $$ to buy protection and privliges so I have no deliusions that they will "suffer". Well their butler brings them a fresh martinie the people the screewed over get up and go to work...Im 38 Ive worked full time since I was 15....I look at the guys who are say 75 and think...65 years of working and they still have to keep going to work...that is just messed up! There has to be something done to right this wrong..I just dont know what would do it.

    Rant over ...

    NEW YORK — Two former top executives of bankrupt telecommunications firm WorldCom Inc. (WCOM) surrendered Thursday morning and were arrested for their role in the $3.85 billion accounting scandal that has rocked confidence in corporate America, according to the FBI.

    Former WorldCom Chief Financial Officer Scott Sullivan and former Controller David Myers were being held at the FBI offices in lower Manhattan and are expected to be presented in Manhattan federal court later in the day.

    "They are here and they are in custody," said FBI spokesman Jim Margolin.

    A complaint, to be unsealed in federal court later Thursday, charges them with securities fraud and conspiracy, according to a law enforcement source, speaking to The Associated Press on condition of anonymity.

    Sullivan and Myers were dismissed from WorldCom in June after the company admitted it falsely accounted for $3.8 billion in expenses, allowing executives to continue reporting profits when the company was actually losing money.

    WorldCom, which owns MCI, the nation's second-largest long distance carrier, filed for bankruptcy under Chapter 11 on July 21, the largest such filing in U.S. history.
  2. wes

    wes G&G Newbie

    I've decided that working hard my whole life was the dumbest thing I ever did. I probably won't get to retire,just work till I drop. I have a cousin that's about my age,grew-up on welfare,got paid to have kids,got sent to school,her kids now are on welfare. Last I heard she's getting ready to retire 'cause she's injured and can't work anymore.(maybe she worked a total of 10 years in her life) She's better off than I am.
    If you aren't a rich scumbag like these CEO's or on welfare,your out of luck.
    Rant mode off.

  3. BenP

    BenP G&G Newbie

    Power corrupts.

    Sure proof that if you leave the cookie jar down, the kids'll get caught with their hand in it every time. Same as leaving my sandwich on the coffee table while I run to the kitchen to get something to drink. Sure as sunshine, those dogs'll be licking their chops when I get back, and my sandwich will be gone every time, no matter how much I punish them for it.

    As bad as this seems, the last thing we want is some type of govt. control beyond what is already in place. The financial community has a way of self policing this sort of thing, and they've done it many times in the past, but they always seem to forget what they learned from it before, cuz they let the problem repeat itself. I think it's a case of selective memory due to greed.

    Kinda like when I'm sitting down with a mouthful of sandwich and realize that, once again, I left the beer on the kitchen counter. I need to remember to bring the beer with me, or take my sandwich with me back to the kitchen to get it and come back.
    Last edited: Aug 1, 2002
  4. Oxford

    Oxford G&G Evangelist

    Here's a solution for you BenP.

    BenP: Just leave that old guerilla avitar of yours to guard the cookie jar. I'd definitely walk a wide path around him. (ha)

    Last edited: Aug 3, 2002