Word: enronization
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Dates: during 2000-2009
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What about people who seem to lack empathy altogether, like psychopaths? You talk about a "mammalian core." There's a book called Snakes in Suits, which is about psychopaths in business. Madoff would be a good example, probably, and Kenny Lay, the head of Enron. I find that such a striking title because it makes them into reptiles. Empathy is not a reptilian thing. Empathy is a mammalian thing. Psychopaths are capable of taking the perspective of somebody else, but only to take better advantage of you. They're able to play the empathy game, but without the feelings involved...
...Lots of people lose lots of money due to frauds every year - and so aside from the magnitude of the fraud, it's difficult to find a justification to treat Madoff's victims different than the victims of the Worldcom fraud or Enron," says Chris Clark, a partner at Dewey & LeBoeuf LLP. "I don't mean to sound unsympathetic, but it's difficult for me to imagine that Congress would legislate relief for one group of aggrieved investors when people lost billions of dollars in Lehman Brothers. Are they going to pass a statute that says you get your money...
...white-collar criminals have received far stiffer sentences that Sorkin's proposed 12-year term. Adelphia Communications' former finance chief Timothy Rigas is serving a 20-year term; former WorldCom chief executive Bernard Ebbers, who was 63 at the time of his sentencing, was given 25 years; and former Enron chief executive Jeffrey Skilling got 24 years. In April 2008, a federal judge in Colorado sentenced 72-year-old Norman Schmidt to 330 years for using money from his investment scheme to purchase properties near Aspen and eight NASCAR race cars, among other items. Similar to Madoff's scheme, Schmidt...
...oversight that have weakened us all in the age of Bernie Madoff. Corporate bailouts need to end - but Republicans must be determined to never again adopt a laissez-faire approach to Wall Street. After Black Monday, the Asian crisis, Long-Term Capital Management's meltdown, the Internet bust, the Enron scandal, WorldCom's collapse and the subprime crisis, there is nothing conservative about turning a blind eye to reckless speculation and greed...
...phone interview, Winokur said that legal investigations have since concluded that Harvard had no improper relationship with Enron...