Financial Times:
Fraud committed against companies by their own employees has surged this year, new data suggest, providing fresh evidence that the recession is fuelling a rise in crime.
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I guess when they spend day after day, year after year watching their managers, supervisors, CEO's and Board members committing fraud and profiting and being promoted higher for each crime they preform, of course some employees will eventually think this is accepted norm culture of the company and its the way to advance both economically and within the company.
are you sure they guy in the above photo with the bookend fed agents isn't being arrested for that awful tie and those pleated Dockers polyblend slacks
the capatalist host is starting to be devoured by the parasites that coarse through its rotting carcass
Well said.
The data, drawn from all levels of management, provide a snapshot of the extent of fraud across the corporate world.
George W Bush is the ultimate corporate pin head. A legacy MBA from a stagnant gene pool. A fraud. Our whole system is a fraud. Fraud is our most important product.
We as a country threw away the moral compass when we allowed the Supremes to foist that Bad Boy Georgie into the White House... Think about it, he was on vacation 50% of the time and ignoring the PDBs that said Al queada would strike in the US... THEN HE LET THE IRAQies have the materials for the IEDS, while we were 'protecting the Oil Ministry', no body armor, carging soldier patients for their meal. etc.... and laughing about the WMD and the mushroom cloud and haveing a good old time with his buddy Jeff Gannon....
what a mess...Obama is going to have to do more than joke about Wall Street and Health Care, we need reform YESTERDAY.....
The climate is changing.
Fear of reprisal is being replaced by concern for our country.
Change!
Greed is good - until you're caught! Greed isn't so great when you land in jail. At all levels, we seem to have lost a moral compass. Whatever form of greed you choose to cite, it is still stealing from all the rest of us. Costs go up for all of us when theft is rampant. Forget about lessons you may learn from your religion. The simple Golden Rule applies here.
These employees have so many great role models in higher level management across many businesses, unfortunately they hadn't quite made it to the top of the fraud tree therefore they will suffer.
None so great as the fraud perpetuated by CEOs.
Exactly....
What do you expect everybody else is doing it.
Fraud is the american way.
Work at AIG, commit fraud, get a mammoth bonus.
Work for a plain old company (one small enough to fail) commit fraud, get arrested.
Isn't capitalism a wonderful way to abuse your fellow man?
Great time to be in the security, spy on thy neighbor business!
The Most Dangerous Man in China
His name is Lou Jiwei, and in many ways he's the most dangerous man in China " especially if you're in the market for a mortgage.
As the head of the China Investment Corp (CIC), it is Mr. Jiwei's job to invest a portion of China's growing supply of U.S. dollars. And with equities now in an uptrend, how Mr. Jiwei manages this mountain of money may well set the course of interest rates in the States for years to come.
That's because if Mr. Jiwei is ultimately successful in building wealth through investments in equities and commodities, China will likely find low-yielding U.S. Treasuries much less attractive as the emerging giant works to diversify its national portfolio.
How China decides to invest those surplus dollars in the future will likely leave U.S. Treasuries hanging by a rather tenuous thread, since massive Chinese demand in the past is what helped to keep rates so low in the first place.
The U.S. Treasury Bubble: a Train Wreck Waiting to Happen
That's an outcome that is even more likely now " especially since there will be a massive flood of new government borrowing meeting a market of slack demand. Treasury prices will fall as a result, pushing yields higher and bursting the bubble
The big bosses that planned the attack on our country and economy will (maybe) be fired and retire with hidden golden parachutes and millions more in stocks etc. Chances are they'll even get new jobs like Thain did, despite their criminal ways. But they won't do time.
On the other hand, every middle and lower level person caught stealing the proverbial paper clip or surfing the net on company time will be fired and prosecuted to the fullest extent! Wasn't is Stalin who said that the death of one man was a tragedy, the death of millions a statistic? So if you're gonna break the law, go full throttle for it!
Too be to fail.
Too big to jail.
They need to build some cases against middle management and work flips to get to the top.
So these guys are what, stealing paper clips?
Go after the big fish - starting with Countrywide Finance and bank CEOs.
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| 05/11/09 08:53 AM