YouSaid · the spoken record

Jesse Eisinger

lines on the record: 70
first: 2017-07-23
most recent: 2017-07-23
sittings or episodes: 1
sources: podcast

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“I was too. I thought that the corruption happened at the smaller companies or was an unusual thing. I think that the system is quite troubled and needs more vigilant oversight.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“That is a good question. I think I wish that I had been even more jaded about the systemic corruption that exists in the system and the malign incentives.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Go abroad, which is what I did. It's easier to find stories and they're more desperate for copy from there because there aren't that many. And do what you like. Don't do what you think you can make a living at. Gravitate to something you like and really understand it and develop it. And the livelihood will follow.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“And it's generated. It sort of pulled a lot of people to realize that investigative journalism is incredibly important and it's central to the mission of journalism. Journalism is not about selling clicks. So BuzzFeed has invested in investigative journalism. And Washington Post has done more in investigative journalism. The New York Times, that's in part because they're waking up to they're reawakening to their mission. And I think ProPublic has contributed to that.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“In the business Well, I mean, I would say two things. One is what ProPublica is proving is that the nonprofit model for investigative journalism works. When we started out, that was a question mark, whether there was going to be enough money in foundations and wealthy individuals to support this nonprofit. And I think nonprofit investigative journalism is not the solution to the journalism crisis where we don't hold the powerful accountable enough, but it is part of the solution. So I think that is the most powerful development that's happened over the last decade.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Press has really fallen in estimation. And the combination of that has resulted in its kind of PR grip on businesses that makes it so much more difficult. It's so much harder now to report on corporate America.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a business model issue. The biggest transformation in the business is the discipline and fear that executives have when they talk to journalists. So when I broke into the business in the early 1990s, I could call up a desk and talk to anybody on Wall Street. Really? And I got a great education and found out a lot what was going on. I covered IPOs and I just called all the desks and talked to all the heads of the IPO operation. There was no PR involved. And now if you call any sell side analyst was desperate to talk. Now if you call anyone, they understand that they can be fired for talking to you as a journalist. Really? And they're so fearful for their jobs. And they're so loyal to their companies. I think it's fear, but also this kind of loyalty that they and disdain for the press.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Joan Diddian, slouching to Bethlehem. Oh, that was a huge album. Those are collections of essays. She's a beautiful writer, lucid, extraordinary observer of humanity, just the kind of perfect, the best, probably the best writer in any journalism. I liked a lot of new journalism, so I read a lot of Wolf, Tom Wolf, and that kind of stuff. But I think she's probably the best of that era.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, well, Menken really does a lot of essays. And so he's a critic, really. He's doing essays. His collection of essays are, there's no one sort of novel or one big book that he writes, but he's really kind of brilliant and lacerating and hilarious all at the same time. Yeah. And Coins a Million Words like the Bubuzzi. So he's very entertaining.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I was trying to think about that earlier today. You know, I think that one of the biggest influences that sort of had me on a path to journalism that I read in college was a bright shining lie from Neil Sheehan, which really exposed the government's lies during Vietnam. And I didn't have any idea I wanted to be a journalist, but that's a piece of nonfiction journalism. It's brilliant and it really captures the Vietnam era almost better than any other book, although there are a lot of classics from there. But that I liked, I loved dispatches. I loved the journalism of Michael Hare. I loved the journalism of the Vietnam era. So that was great. And then, you know, I gravitated to the great SAS, polemicists like George Orwell and H.L. Minkin. Those are the people that I read. I read Joan Diddian. So I was sort of gravitating to this kind of non-fiction report.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“But now he's retired. And he worked for a shop in California. And he's one of the guys who did the most work. He would probably would have been the best prosecutor in the Department of Justice. Drop him into the Department of Justice today. Steamroll, hands down the best prosecutor. He was one of the most brilliant guys. Was he a lawrole also? No, no. He was just a sort of finance guy, but just a nose for frauds. And he knows Mark Cehodis, who was a big short seller. You guys know he had a partner who I won't name because he's still in the business. These guys were the most influential. They taught me how to read a balance sheet, which I can do in a rudimentary fashion. They taught me how to look for frauds, identify them. And really, that was a...”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, a lot of them were, well, a lot of them, these guys are sort of out of the game. So, like, Dave Shally is probably one of the best short sellers ever in the, and I hope that he forgives me for outing him.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, that's true. So, you know, so, and I always thought, you know, if a company is making money, if a company develops its product, I was doing pharmaceuticals and biotech then. If companies, the science works and covering, exactly, and the science works and the drug works, and they test it and they get it approved by the FDA and they sell it and they make money on it, all those things are supposed to do those things. So that's not news. It's only news when they don't do it. So I gravitated to when the drug was killing people, when they were lying about the drug's results, when they couldn't sell it, when they couldn't make money on it. And those were all stories to me. And the short sellers were the people I talked to. And so I learned from the best short sellers in the game. Give us some examples. Well, Jim Chenos was one of them, although he didn't do as much biotech.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a whole nother discussion. You can find great journalism, but overall it's still too generous and there's too much happy talk and it's too agulatory. But back then it was even worse.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. And the business journalism was, I would argue, even worse than it is today. And I don't think I don't have a great today.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, you know, it was interesting. What happened to me was that I was working for this obscure operation, the street.com. Nobody's really talking to me. And so I kind of naturally gravitated to the people who would talk to me, the kind of desperate weirdos and quirks, cranks and outsiders. And most of them were short sellers. And so, you know, and in...”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Dave Calloway, no, he wasn't there, but there was a guy, Dave Kansas. He's no longer in journalism. I don't know where, Dave, I've lost touch with him, but I'm sure I'm going to forget a million mentors, of course. Of course. When you do a list like this, but he was one.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“And I'm glad I grabbed them and put them on the blog. And Jim Kramer, to his credit, really kind of invented this whole kind of wave vernacular of speaking about doing financial journalism. But back then it was serious financial journalism. We did an enormous number of real investigations, deep reporting. It was innovative.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a good question. I read the big books, the big journalism books like Den of Thieves and Barbarians at the Gate. Those were big influential books. I had a bunch of great colleagues at the street.com where we really kind of learned finance and investing and investigations. Dave Kansas was the editor there. My colleagues, like Colin Barrows, an editor at the Wall Street Journal and Alex Baronson, who went on to the New York Times and John Edwards was another editor at the Wall Street Journal, a bunch of really talented people there. So those were probably the early influences. And then Larry and Gracia hired me at the Wall Street Journal. He's one of the best editors of our era. So those guys all sort of helped.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh man. Well, I have no education beyond college. I didn't study law. I didn't study any finance. I didn't study accounting. I'm faking everything.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, I really was worried when his reputation sank in the election with the Hillary intervention in the campaign, and everybody thought we're so on the left, we're so angry about Hillary. Now he's revived, so it's all good for the book.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“The book, They're Adult. Also, the book business is tough these days, and you got to get people's attention somehow. It's clickworthy. It's a little buzz. Yeah, so, you know, my wife sort of feels like it's a little crude. She'd like something a little bit more refined. I felt like, look, this is really encapsulates it. And it also is, you know, I couldn't come up with it on my own. It came from Jim Comey. He really said it. And you get lucky suddenly.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. Yeah, exactly. Instead of saying, my God, if the PWC people knew about this, maybe things were worse. Maybe we need to go higher up. Maybe we need to prosecute more. Maybe we need to put a lot of pressure on the auditors. The innovation in the 70s from the Southern District and from the SEC, and I cover this in the book, Stanley Spork and sort of the father of enforcement at the SEC, they put pressure on the auditors and the lawyers. They put pressure on the enablers. He calls them the gatekeepers. And the problem is that we don't do that anymore. We don't put pressure on the lawyers and we don't put pressure on the lawyers and the auditors to lesser extent. But the lawyers especially, one of the big problems is that these guys want to go become corporate lawyers and make two, five, eight million dollars a year. Revolving door. So the revolving door is this perennially correct.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think that's true. And if you look at the AIG investigation and I go through a series of AIG wrongdoings and investigations in the book, the last one where they blew up on the CDS market and the mortgage market sort of pivots on a very arcane little handwritten note in the margins from the auditors at PWC. And the higher ups at the Department of Justice are so shaken by the existence of this note that seems to suggest that PWC partners had some knowledge of this, that they put the Kaibosh on the whole indictment, the whole investigation.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we talked about it earlier that the law firms are key to this now because they conduct the internal investigations and the prosecutors don't do it, especially if it's something like overseas wrongdoing. The Department of Justice thinks That it cannot prosecute foreign corrupt practices act bribery, which is not that they can't prosecute, it's that they can't investigate it. And so they outsource the investigations to companies. And they say, just think of the resources that we would need to do that. And my answer is if you don't have the resources to sufficiently prosecute something, focus on things that you can prosecute or get the resources. It's not an excuse to just say our jobs are hard or we don't have the money. What do we got a DOJ for? Right.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“When you want to investigate the wrongdoing at your company, hire a firm that is also a law firm that is also incurious enough not to ask questions of things that will lead the investigation to the C-suite or the boardroom.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“And you're pretty much bulletproof. Run a big corporation, surround yourself with compliance officers, lawyers. Don't ask too many questions about a division that is making too much money. Be studiously and curious.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, so there's never been a golden age where the rich and powerful really had to fear for their liberty if they stepped over the line. But as I say in the book, there have been silver ages. There have been better periods. So we had Morgan Thaw in the 60s and Bob Fisk in the 70s focusing on individuals, taking on high-level corporations. And then we had Giuliani. We had the Enron Worldcom, Adelphia Prosecutions. Now we are in a terrible crisis.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Wrongdoing. Yeah, exactly. I'm just saying that CEOs in this country get the kind of respectful treatment. Steve Jobs got enormously respectful, despiking option back then. Despite the stock option back dating, despite it being dead to rights on a collusion over engineer salaries, if you remember that skin. Things that people have gone to prison for.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think it helps that it outrages them. I think that these people are moral. But that they didn't go to the same schools and they aren't at the same law firms. You know, Sheldon Silver was a kind of two-bit plaintiff's lawyer. And so they have a very different attitude to those people than they do to a Lloyd Blankfine or a Jamie Diamond. Or they treat them with much greater respect.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Investigation today? Is that a said effectively what he said to them? If the cloud. No, he's found a spine in this administration. Exactly. When it comes to that kind of thing, they do better than corporate prosecutions, I gotta say. Really? Well, you know, I think that this elite affinity does not plague them when it comes to corrupt politicians. They look at somebody like, look at Priara, when he looks at Sheldon Silver or Dean Skelos, these top New York State politicians, he sees them as scummy. They're dirty to him.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. And what he does is not an exaggeration. Well, when the Southern District is prosecuting KPMG, they keep issuing ultimatums to him. And he keeps saying, okay, okay, what he's really doing is he's gone right to the top of the Bush administration, Department of Justice, right to the Attorney General, and right to the Deputy Attorney General, who by this time is none other than Jim.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Bennett, who was President Clinton's personal lawyer, and he negotiates on behalf of KPMG. They get a power lawyer, and he's incredibly savvy.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“And you live in suburbia. I mean, there is a lot of elite affinity, I think, that kind of undergirds both the prosecutions. The prosecutors are from the same schools. And when they're prosecuting these people, they're either prosecuting their peers or their parents of their peers. And the parents of their peers are being defended by their boss's former boss. This is just this whole milieu that they're in. The judges come from it. We talked about Lewis Kaplan in the Southern District earlier. He was a Paul Weiss partner. And so, you know, when he says he's looking at the prosecutors cutting off the defense funding from top law firms and top lawyers, he thinks like, you guys, this is just not done. Or I don't know what he's thinking, but you can read into that. This is improper. We do not do this in this country.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so occasionally you get a prosecutor with ambitions not to go into big white shoe firms. And so they wreak havoc and they kind of do their jobs. I think Giuliani, before being kind of overly cruel and not particularly competent mayor was an aggressive prosecutor, but there was an enormous backlash after him. The courts then, oddly enough, kind of take it on themselves. They see their role as to correct overly zealous prosecutors, not in street criminals where they're often affirming them, but in corporate arena, white-collar criminals, they kind of get their backs up. Exactly.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Only that, but the courtesy afforded these lawyers. So what happens is you get, if you're the subject of an investigation, the target of an investigation, you never see a prosecutor. They bring your lawyer in for a light series of conversations about what their evidence is, what your defense might be. There's an enormous number of fights over what you have to produce in discovery that public never sees any of this. You are treated with the utmost grace and respect and polytess. Suffice it to say street criminals don't quite get this.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Decision Isn't that what He was very proud. He had his wife come to that to watch when he read the ruling. I mean, this is one of what he views as one of his crowning achievements.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's incredibly controversial. And what later happens to cut a long story short is that the federal judge overseeing the case determines that the prosecutors, the government has forced KPMG to cut off the funding for these executives' defense. And he throws out the case against all the individual executives. And he essentially creates out of whole cloth a new constitutional right, the right to have the best attorney money can buy. If you can afford it, or rather if your company can afford it, then you are allowed to have the most expensive attorney in the land. Now, I just goes without saying that street criminals and public defenders don't have this role.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, complicated, but it's complicated tax stuff, but a really serious amount, billions and billions of dollars in alleged fraud here, and lots and lots of paper trail and named partners, named individuals, and the Southern District names over a dozen individuals, mostly KPMG executives. And then what happens is KPMG cuts off their Paying for their defense.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“IRS refers it. There's huge track record. Yeah, there's a big Senate investigation from Carl Levin's group, bipartisan, exposing enormous amount of deeply questionable dealings.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. So soon after this Arthur Anderson case, as we were talking about, there's an investigation at the Southern District of New York into KPMG, and this was another major auditor, and they were selling illegal tax shelters to wealthy individuals to help them avoid taxes.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Just look at what's happened now they pay a big fine, and Stevie Cohn continues to operate, and then, you know, he's soon going to be back in the hedge fund business. What kind of message does this send to him, to any of his employees, to any other wrongdoer, anybody contemplating a life of crime on Wall Street, of which there are way too many? You know, it sends a terrible message.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“I think justice requires that you take Stevie Cohn to trial and the hard case is, you know, you take somebody like Stevie Cohn to trial, you present the evidence in public, you present the evidence to the jury, and if the jury disagrees with you, it's not necessarily humiliation. You have been exonerated. And that is a bad day at the office, but it should not be the overarching goal of the government should not be to win.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“didn't want to lose his pristine record and take on for instance Stevie Cohn at SAC Capital didn't want to take him to trial because he was worried he might lose and that would destroy it was a tough case but at some point I think arguably didn't do anything”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Comey is principled. I agree. I mean, he's got imperfect. I have another episode where he really blinks on a corporate prosecution in the book about KPMG. And, you know, he is a guy who thinks a great deal of himself. But it's a very important concept. And you don't see leaders of these organizations without a fear of losing. They're terrified of losing and they're terrified of the humiliation of losing a trial. And you saw that with Preet Barra, who has a great reputation as a crusader, especially as the supposed sheriff of Wall Street. But in fact, I think blinked on investigations and prosecutions of Wall Street banks. Didn't want to take the chance you might lose.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. You're taking the low hanging fruit, and that's not justice. You're trying to protect a record. But being a prosecutor for the government is not about protecting a record. It's not about going undefined. 10-0, right. It is about doing justice and sometimes doing justice means that you take a hard case and present your evidence to a jury and then juries are unpredictable. And sometimes they go with you and sometimes they don't, but justice has been served.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure, my children love the title, which makes my wife really not like the title. And I'm so glad that Simon Schuster went with it. I think they went with it because it is actually organic. It is a real statement that came from all people. Jim Comey, who you may remember from such things as the testifying in front of the Senate after being fired for being FBI director, but 15 years ago he was the U.S. attorney for the Southern District of New York, and he had just replaced Mary Joe White. And Mary Joe White was a legend. And he comes in and he gathers everybody together. And they're a little trepidatious about him. He gathers all the criminal prosecutors. And these guys, you have to understand, are the best of the best of the best. They've gone to the best high schools to go to the best colleges to get into the best law schools to perform.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“CEOs of smaller companies or the head of a hedge fund, Raj Raja Rottenam, can be prosecuted because he's committed a crime that the prosecutors are comfortable prosecuting insider trading. It's an easy thing to sell to a jury. And when Galleon goes out of business, it only puts five or six or ten or twenty people out of business. It's not putting the entire thousands, tens of thousands of people out of work, and they're terrified of it.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“It should have been much easier to prosecute than it was, which raises a question of whether the skill set is there, whether the will is there, whether they devote enough resources to it, and I don't think the answer is yes to any of those questions. But, you know, it's not just the banks. That was a wonderful innovation that the banks said were too big to jail and too big to jail. But you're seeing this with recidivist pharmaceutical companies, Pfizer has had subsidiary plead guilty to one problem. It has had a DPA. It has an NPA on and on and on. You see Walmart getting away with bribery in Mexico that the New York Times had them dead to rights with all the internal documents. We are seeing this across the economy. And so this is impunity at the highest level of corporate America. What they do instead is prosecute.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source
“Know we saw it in the financial crisis most prominently. That's when it became clear that this was a big problem, but it really was building before then. There was no prosecution of the backstock option backdating scandal. Which was huge. Tremendous paper trade.”
2017-07-23 · Masters in Business · Jesse Eisinger on Why White-Collar Criminals Get Off · IDENTIFIED FROM THE TRANSCRIPT · source