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He's not ever going to get it reversed! He is delusional and stubborn. I do feel sorry for his family though, they really are nice people (especially the kids and his exwife Sue), but of course, they will defend him until his dying day. What else would one expect?
My point is, that I bet if they dig into the books of many of these investment houses and banks that are either failing or getting bailed out, there will be some malfeasance, of the indictable kind. That is what I was trying to get across with the excerpt.
What usually follows this type of "deal making" is compromised ethics and arrogance regarding the rules of accounting and laws of this country. Much of the mortgage crises stems from unscrupulous lending practices and bending of the rules. The lenders just thought the bubble would never burst, just as the Enron folks thought they could keep juggling the books.
In the end it bit investors in the butt back in 2001 and it's happening again to us now! The question is, will we (and the investment class) ever learn from the mistakes that have occurred time and time again?
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