Gordon Gecko would be proud of Enron, WorldCom, Tyco, the business who embraced his idea of greed.
The only trouble is that they got caught. In the case of Tyco, the chief executive went to court to face accusations over his $6,000 shower curtain, and videos of a million dollar birthday party complete with Roman guards. But now the party’s over. Stock prices crashed and thousands of employees have found themselves jobless and penniless.
While many argue that long jail sentences are what’s needed for convicted CEOs, others counter that taking away their money, forcing them into community service might be better solutions. We discuss crime and punishment and the white collar sentence.
Guests:
Eric Yaffe, former federal prosecutor and current attorney for corporate clients
Foster Winans, former Wall Street Journal reporter convicted of insider trading
Rob Davis, former Enron employee.