SEC and Other Investigations of Illegal Trading: Re: WorldCom's Ebbers Gets 25 Years, Weeps

» Kirk - Re: WorldCom's Ebbers Gets 25 Years, Weeps

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In response to Re: Re: WorldCom's Ebbers Gets 25 Years, Weeps posted by lcha:

This giving to charities is sure a scam when done by many. I've noticed some of the largest scams in other areas usually involve the perpetrator giving a large fraction of what they collect to charity. Part of the business model of a scam is to convince society that you are a “one of the good guys.” I believe insurance and loaded mutual fund/annuity salesmen meet most of their “clients” by doing charitable community service and/or church related work such as singing in the choir to passing the collection basket so everyone sees them

I own Microsoft but it was suggested that one reason the Government went after them for being an illegal monopoly is Microsoft didn’t give enough to charity to build a better corporate image. Since then, Bill Gates started the “Bill and Melinda Gates Foundation” and has made charitable giving a larger part of the corporate culture.

Study any pro sports franchise and it will blow you away how much they give back to the community so they can get all the noisy community groups to support them or at least not try to block their exploitation of city assets for private gain.

Anyway, I sure hope Ken Lay gets the same treatment Bernie Ebbers got. Of course, I’m not sure there are stories of Lay sneaking into his company late at night to refill water cooler bottles with tap water to save money. The defense that Ebbers didn’t know what was happening was one of the most unbelievable I’ve seen given the evidence.

-- posted by Kirk