FalconStor bribed banking executives with gambling, golf, stock and gifts to get $12.2m of business. That's what led to the founder's ousting, fines and a deferred prosecution agreement. The US Department of Justice says: One JPMorgan Chase executive received 25,000 FalconStor stock options and 40,000 restricted FalconStor …
Is this a surprise? There maybe many many bankers on the verge of being held at HM's pleasure.
Damn I forgot, the Governments all endorsed it, until it went wrong.
Now in the UK be have a Parlimentary investigation into the banks led by chancers, spivs and expenses cheats. Will we really get an honest answer?
On this side of the pond...
Hmm if I were a Libertarian, I'd say this was a perfectly legitimate function of the free enterprise system right?
Of course I'm not a Libertarian and I see things like this as perfect examples of why we actually have a (albietly poorly) regulated market.
I didn't know...
that FalconStor was owned by EMC :).
- Product round-up Coming clean: Ten cordless vacuum cleaners
- Vulture at the Wheel Ford's B-Max: Fiesta-based runaround that goes THUNK
- Worstall @ the Weekend BIG FAT Lies: Porky Pies about obesity
- 'Snoopers' Charter IS DEAD', Lib Dems claim as party waves through IP address-matching
- Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!