Thursday, October 12, 2006

Too Greedy

Call this the bubble 2 the wave of resignations occuring in the wake of the SEC investigation into businesses that back dated stock options for their executives. Options scandal claims CNET, McAfee chiefs It all began with this guy; Ex-Comverse boss arrested in Namibia

Jacob "Kobi" Alexander, is one of three former Comverse execs who are accused of securities fraud. He also alleged to have illegally siphoned of $57m out of the US to Israel, in a money laundering scheme. Investigators seized $45m left in US accounts. In 2005, Alexander ranked 75th in the Forbes list of CEO compensation at America's 500 biggest companies. His pay that year? A lousy $13,882,700, of which stock gains accounted for $9.6m. Still, this wasn't so bad, considering that the median pay in 2005 for CEOs at big firms in the US telecoms sector was an even lousier $1.7m. ®

Imagine if he had been illegally shipping the money to Palestine, why the outrage would be palable. While the US denounces China for stealing high tech it is silent on Israel. Ain't money laundering illegal. That makes Israel a Criminal State as well as a practioner of State Terrorism.


Bring Out Your Dead

Criminal Capitalism

Primitive Accumulation of Capital

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1 comment:

Looney Canuck said...

My prediction: The answer for the powers that be (Bush, Harper et al.) is MORE deregulation.