Daughter 2 just turned 4 the other day. In my mind, she has crossed a threshold. I can now take her out to the diner for dad/daughter Saturday lunches and, soon, on forays into the city. Daughter 1 has been sufficiently indoctrinated and now shares my obsessive madness for New York. It’s time to begin spinning my web for Daughter 2.
Dell agreed on Thursday to pay $100 million to settle civil charges…that its senior executives used fraudulent accounting tricks to make it appear that the computer maker was meeting Wall Street earnings targets. Michael Dell, the company’s founder, chairman and chief executive, agreed to pay a $4 million fine as well. Dell settled the case without admitting or denying the S.E.C.’s allegations.
The New York Times, July 22, 2010
The S.E.C. charged Goldman Sachs in a civil complaint on April 16 with securities fraud related to the creation and sale of a subprime mortgage security. On July 15, Goldman agreed to pay $550 million to settle the case without admitting or denying the accusations.
The New York Times, July 26, 2010
I don’t throw down the word “hate” hastily. I believe what I’m taught in my meditation class about being careful of what you put out there. But I really, really hate these guys. They’re gutless cowards. They can’t even admit they’re wrong, even when they know they‘re wrong. Do you really think that the parasites at Goldman Sachs would cough up half a billion dollars if they felt they were innocent of any wrongdoing? Why would anyone continue to hold their accounts at Goldman?
EDIT: And in today’s paper:
Citigroup has agreed to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments. Citigroup will nether admit nor deny the S.E.C. accusations.