Why They Should String Samuel Israel Up On Wall Street With A Note Saying “Fraud Isn’t Painless”
Posted by timothysykes on Thu 3rd of Jul, 2008 11:58:38 AM
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Call it tough love. Leave him there long enough so the stench of his rotting corpse (still won’t be as bad as the stench of most living finance peeps—yeahhh can you say $330 billion auction rate securities catastrophe? Fraud lawsuits should be fun/illuminating) will pound home the point that if you cheat people—giving this once great industry a bad name—you will suffer the consequences. And it won’t be painless…Benito Mussolini-and-mistress-together-style:
Yes, it might be cruel and unusual—guaranteed to offend some—but unless we make an example out of these fraudsters (and I mean something that really sticks in people’s minds), they’re just gonna keep coming back, like the cockroaches that they are…
For those of you who don’t know this guy ran a totally fraudulent $400 million hedge fund—Bayou Fund…false audited statements and all—and then tried to fake his own suicide, writing “suicide is painless” in dust on the windshield of his car left on a bridge (clever), instead of going to jail like he was supposed to do. And now he’s got sugarcoated press like THIS stressing how nice/polite he is ( I met him once—fellow Tulane alumni—he was polite, now if I met him, I’d bring some brass knuckles)
Because you gotta remember, he didn’t just harm a few people by stealing their money, he’s harmed the entire hedge fund industry…the entire finance industry. People like him make it tougher for hardworking honest people to gain people’s trust. And that cannot be allowed.
Let’s hear what you guys think…
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