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so there have been a lot of anger, outrage, grief etc here on CD towards thugs, low class criminals, racial disputes, teen moms, etc, yet few seem to care about billionaire criminals. while a thug with a knife on the street could pose a physical threat to a few passengers, these low life white collar criminals hurt hundreds of thousands of american families in more sophisticated ways without your knowing it....
these are low lives, too, and are more dangerous than those sporadic thugs, yet they might appear as "high class" in front of you until they get convicted. remember Bernard Madoff, Rajat Gupta, Raj Rajaratnam? how do you all feel, NYCers? Could you tolerate this class of low lives better than those random thugs on the streets?
Hedge-fund billionaire Steve Cohen's SAC Capital will plead guilty to criminal insider trading charges and agree to pay a record $1.8 billion fine, according to a statement from federal prosecutors.
Raj Rajaratnam (Tamil: ராஜ் ராஜரத்தினம்; born June 15, 1957) is a Sri Lankan American former hedge fund manager and billionaire founder of the Galleon Group, a New York-based hedge fund management firm.[3][4] On October 16, 2009, he was arrested by the FBI on allegations of insider trading, which also caused the Galleon Group to close.[5] He stood trial in U.S. v Rajaratnam (09 Cr. 01184) in the United States District Court for the Southern District of New York, and on May 11, 2011 was found guilty on all 14 counts of conspiracy and securities fraud.[6][7] On October 13, 2011, Rajaratnam was sentenced to 11 years in prison[8] and fined a criminal and civil penalty of over $150 million combined.[9]
Rajat Gupta was born in Kolkata, India to Pran Kumari Gupta and Ashwini Kumar Gupta. Gupta was convicted in June 2012 on insider trading charges of four criminal felony counts of conspiracy and securities fraud. He was sentenced in October 2012 to two years in prison, an additional year on supervised release and ordered to pay $5 million in fines.
Gupta owns several properties that he uses for both work and pleasure:
His primary residence is a two-acre estate in Westport, Connecticut that formerly belonged to JC Penney and his family, which was valued at $13 million as per town records of October 2011.[59]
He owns a $4 million waterfront home on the Gulf of Mexico in Palm Island, Florida.[1]
According to the Economic Times, "His big mansion in Connecticut is like a public dharamsala, where friends, professors and McKinsey colleagues are encouraged to come and live, often with their families. He is also known to ask colleagues to take a break at his Colorado ranch with their families - something unheard of in the McKinsey world at that time."[73]
The "anger, outrage, grief etc here on CD towards thugs, low class criminals, racial disputes, teen moms, etc," is brought about due to whatever the thread topic at hand is about. Which is usually some sort of crime or incidence that would cause such discussion. You don't see too many white collar crime threads or things of that nature. Which is why you don't see those discussions. Despite what a lot of the folks on those other threads who get all angry that only one stratosphere of society is getting harped on will whine on about...
Also, he didn't hurt anyone technically. He made people money by using insider trading which I'm sure they are all happy with.
Madoff is a different story though.
PS I also really like the TV show on USA!
The thing is that such high-level criminal activities are beyond the comprehension of average ppl which makes it difficult for them to relate themselves as the victims of the incurred damages. While many are unhappy about wealth polarization in this country, they do not realize that these unlawful activities among these white collar low lives are some of the major contributing factors to this process and outcome. Those few who got convicted only serve as a proxy to tell how some of the riches were made in US. The OWS movement two years ago had a legitimate reasons to urge the cleaning up of such white collar criminal activities in this country, but it was widely regarded as a movement of envy protesting greed.
You don't see too many white collar crime threads or things of that nature. Which is why you don't see those discussions. Despite what a lot of the folks on those other threads who get all angry that only one stratosphere of society is getting harped on will whine on about...
That is probably how the riches leave average americans behind by directing their focuses on other more exciting criminal events like the bikers events, racial beat up events, and abuse of food stamp issues....it is harder to investigate and convict these white collar criminal activities, and major news media would rather cover petty street corner crimes instead of reporting these more hazardous but less exciting crimes to the public.
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