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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: John McCarthy who wrote (93534)1/29/2009 11:52:12 PM
From: Little Joe6 Recommendations   of 116555
 
I strongly disagree with the view that these monies are not recoverable. The officers who received this compensation, have a legal fiduciary duty to their stockholders and, in the case of banks,to their depositors. This is a common law duty.

I don't think it would be too hard to convince a jury that the officers knew what was going on and misrepresented the financial realities in order to create a rosy profit picture which innured to their benefit in the form of bonuses. My feeling is that the regulators are in bed with these characters and not looking to hard to get the money back. After all, if they got the money back where would the money come from to finance the political campaigns of the dem-rep-crooks.

lj
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