The recent arrest of six Volkswagen executives over the companies egregious emissions cheating scandal shows that in fact various regulators are capable of arresting corporate executives and charging them criminally. Of late three former currency traders were charged criminally as well. Charged and convicted are two very different things but it is at least a step in the right direction when it comes to the rule of law in this country. Jon Corzine’s recent settlement of the MF Global fiasco and bankruptcy that saw no criminal charges further cemented the modern untouchables aura of the banksters. This I’m sure has a lot to do with the fact that their behavior remains largely unchanged in the post bust period since 2007 as they have demonstrated that not only does bankster crime pay handsomely, the probability of criminal prosecution is about the same as being abducted by aliens and used for unmentionable medical experiments. I may yet live to see an executive get thrown in jail, but I’m certainly not going to hold my breath.
Registered Investment Adviser
216E Mount Hermon Road
Scotts Valley, CA 95066
Local: (831) 334-5318
After nearly 19 years of live radio it was time to move on to new projects. My daily economic update was changed to a video format in 2019 and moved to my Business Face Book Page. Or you can call my office 831-334-5318 and take advantage of my still “free” after 20+ years initial consultation. Usually about an hour, will have an opportunity to get to know each other better and address your specific concerns on a one to one basis.