ImClone's Waksal gets 7 years, 3 months

So says MSNBC

Well, if he got that, what should the Enron and WorldCom executives get? Far, far worse, given the scale of the wrong that they did.

And how about Martha Stewart? Seems like she got mixed up in this and tried to do something a little cute much more than she perpetrated business fraud, especially in comparison to Waksal, Enron and WorldCom types…

I wonder how many years that REALLY means…probably more like three or four. If I’m not mistaken, the maximum sentence he could have received was 70 years - I could be wrong on that. I believe the sentence should have been stiffer, and that goes for the Enron/WorldCom guys too, if they ever make it to court.
Somehow, I think Martha will walk with only fines as her punishment; just a gut feeling. Not that I wouldn’t love to see her behind bars.

All of these people manipulated personal contacts in the business world so as to maximize their ill-gotten gains. There is nothing benign or minor about this sort of conduct. CEO malfeasance is one of the major reasons that so many tens of thousands of people are out of work right now.

Each and every one of these chiselers needs hard prison time to reconsider their misdeeds. The ripple effect of such high level crime goes well beyond the boardroom. These greedy swine need a prolonged visit to a penitentiary and not the off season in some effing minimum security country club.

I’ve always heard minimum security federal prisons referred to as country clubs. What are they really like? Is there some sort of first hand article online I can read describing one of these facilities?

Does Bubba take you out for lobster and filet mignon first?

I must correct a comment I made in an earlier post that Waksal’s maximum sentence could have been 70 years - I must have mis-heard the radio announcer, because I’ve heard since then that his sentence was “close to maximum” for that particular crime.

Seven years is the maximum sentence for deceiving investors - many of whom were depending on the stability of the company’s stock to help them live out their retirement years without having to eat dogfood??


Blonde, an old statistic was that a bank robber usually netted around $1,500 and got six years in prison.

A white collar criminal usually netted around $100,000 and got six months*. Probably six months of probation, for that matter.

The time is long overdue for embezzlers to face really long sentences in extremely nasty pest holes. Or, as Tom Clancy puts it;

“Substandard federally supplied housing with substandard federally supplied room mates.”