Friday, December 12, 2008

One guy steals $50 Billion

Is it possible for one individual to completely destroy American's faith in capitalist financial markets? Check out this story.

http://www.nytimes.com/2008/12/12/business/12scheme.html?hp

One guy accused of defrauding his clients out of $50 billion dollars. One guy. $50 Billion dollars is more than the GDP of dozens of countries in the world. And one guy stole it.

It's just unbelievable. Congress won't bail out automakers, but finance folks continue to get cash, even while these assholes are in charge of things. Just incredible.

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