Meet Uncle Sam, Your Partner in Crime
The news leaked over the weekend: Hedge-fund baron Steve Cohen and SAC Capital Advisors were about to pay a monster fine for a decades worth of insider trading and failed supervision of traders. Some prefer the term “expert networks,” but – po-TAY-to, po-TAH-to.
The rules have changed, and so have the penalties. The lessons of the post-crisis era are clear:
- Laws are made to be broken
- Steal Big or don’t bother.
- Always reserve 10 percent of your criminal proceeds for your newest partner, Uncle Sam, to settle all claims, both civil and criminal.
This is a huge shift in the mentality of prosecutors, defense attorneys, accountants and constitutional scholars.
http://www.bloomberg.com/news/2013-11-05/meet-uncle-sam-your-partner-in-crime.html