Tuesday, April 2, 2013

13-04-02 Where are the good old days when Martha Stewart went to jail? Today it's too rich to jail...


Too Big To Jail? Obama Administration Agrees To Large Penalty In Exchange For Letting Billionaire Escape Insider Training Charge While His Subordinates Plead Guilty

800px-Louis14-FamilyJohn Cassidy has a remarkable story out in the New Yorker this week about a sweetheart deal cut by the Justice Department with one of the wealthiest men in the world, Steven A. Cohen (who may be pictured here at a standard picnic, or not). Cohen’s company would pay $626 million but not have to admit any wrongdoing and Cohen would face no personal sanction. The billionaire appears to be celebrating this month with a buying spree with a Picasso painting and a huge new mansion. What is amazing is that various Cohen subordinates have pleaded guilty and Cohen has been tied directly to an insider trading allegation. Yet, he appears to “too big to jail” as a continuation of the Obama Administration’s bifurcated legal system for the super rich and the rest of us.
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