Corportate Fines & Governmental Favoritism
So, does anybody else out there find it very strange that G.E. gets fined $50MM over accounting charges, but Bank of America gets fined $33MM for misleading shareholders surrounding $3.6Bn in bonus checks? I suppose it helps to be a ward of the state…connections to governmental top brass doesn’t hurt either. Maybe I’m just talking out my ass…but to me, something smells rotten in this nation…I suppose there’s no shortage of that these days, especially amongst the financial behemoths. Which is why even talk of the end of Kenneth Lewis’ tenure brings me immense joy. x}
Update: Judge Halts Settlement With Bank - I really like Judge Jed Rakoff of the Federal District Court in Manhattan =)
Tags: Bank of America, G.E., Governmental Favoritism, Kenneth Lewis