Stealing $10 billion

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Stealing $10 billion
July 30, 2010, 02:52 AM Letter




Editor,


Goldman Sachs has agreed to pay $550 million to resolve a civil fraud lawsuit over selling a mortgage investment that was established to fail. The penalty is only one-twentieth of the $10 billion in bonuses the firm handed out last year. If you’re a con man and you defraud somebody out of maybe $50,000, you’re going to jail. I mean it’s not like you’re going to have to pay the money back and you can walk on your merry way. That’s not the way it works. But on Wall Street, if you commit a massive crime, such as stealing a billion dollars, you get to walk away from it. They began stealing things that belonged to others so they themselves could have more. But there will be no escape for them as there will be no place to go and nowhere to hide. They can’t stop the world and get off as they wish they could.





Ted Rudow III,MA


Menlo Park