I am reading Mr. Stewarts book and find it fascinating and truly is an issue that our society and the judicial system should address.Since I worked at Enron BEFORE Ken Lay did I am able to comment on the differences between Mr. Lay & his predecessors at ENRON. Mr. Lay valued LOYALTY above all else because it meant that he, over many years, could develop this house of cards,this culture of fraud without being caught and depend upon this underlings to pursue ever increasing profits based on lies.
Frankly, what did Peter Bananovic do wrong ? You are not, as a broker, supposed to advise a client to sell a paltry 4,000 shares to avoid a loss of a measly $ 50,000 ? So keep quiet and let the client suffer the loss instead ? Isn't this what the stock market is about anyway - speculation ?
And the FBI prosecutes him, this "chicken feed" sale of 4,000 shares , as though it is 40,000,000 shares - the crime of the century ? The USA is one very abnormal country.
I am reading Mr. Stewarts book and find it fascinating and truly is an issue that our society and the judicial system should address.Since I worked at Enron BEFORE Ken Lay did I am able to comment on the differences between Mr. Lay & his predecessors at ENRON. Mr. Lay valued LOYALTY above all else because it meant that he, over many years, could develop this house of cards,this culture of fraud without being caught and depend upon this underlings to pursue ever increasing profits based on lies.
Frankly, what did Peter Bananovic do wrong ?
You are not, as a broker, supposed to advise a client to sell a paltry 4,000 shares to avoid a loss of a measly $ 50,000 ?
So keep quiet and let the client suffer the loss instead ?
Isn't this what the stock market is about anyway - speculation ?
And the FBI prosecutes him, this "chicken feed" sale of 4,000 shares , as though it is 40,000,000 shares - the crime of the century ?
The USA is one very abnormal country.