91–100 of 243 posts
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>you could day trade and just put it back in the account. That way he would have spent just as much money, but sitting in front of a computer instead of being coked up with strippers.
Ironically, despite having all the money he could spend, he STILL ended up starting a business!
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Isn't the Secret Service supposed to protect the president?
They were a part of the Treasury Department until 2003 (now DHS) and deal with counterfeiting and other financial crimes. I don't know for sure that fraud like this would land in the Secret Service queue and not the FBI but it's certainly plausible. It mostly depends on which specific statute(s) you're being investigated for as to which agency(ies) do the investigating.
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Isn't the Secret Service supposed to protect the president?
They were a part of the Treasury Department until 2003 (now DHS) and deal with counterfeiting and other financial crimes. I don't know for sure that fraud like this would land in the Secret Service queue and not the FBI but it's certainly plausible. It mostly depends on which specific statute(s) you're being investigated for as to which agency(ies) do the investigating.
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A loan is a two party relationship and both parties have responsibilities. Also there are known consequences to default. Defaulting on a loan has nothin to do with morality as far as I'm concerned. If you are fine with the consequences of default then do so. It's not immoral as everyone knows the risk/consequences.
Sure -- but typically the result of defaulting on a loan is not debtor's prison unless you happen to still be living in 1820.
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Seriously, what an asshole. He "was just unlucky"? No, there was not a single piece of bad luck for him in this whole affair. Something strange happened to him, but it was easy to handle without screwing anything up: just tell the bank they messed up, or even just ignore it. Deciding to start spending the money like crazy was not bad luck, it was bad judgment. The bank was clearly in the wrong as well. They shouldn't…
> No, there was not a single piece of bad luck for him in this whole affair. Something strange happened to him, but it was easy to handle without screwing anything up: just tell the bank they messed up, or even just ignore it. Deciding to start spending the money like crazy was not bad luck, it was bad judgment. There's another way to look at it: The "bad judgment" is only bad if you view the standard as "tell[ing] t…
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It's actually called fraud, at least in the US, and will be investigated by the Secret Service. If you experience such a windfall in your account, seek written permission from the bank before spending any of the money.
He didn't find the windfall - they just gave him a large line of credit. You could claim it was fraudulent because he didn't plan on paying them back, but it's not the same as suddenly finding money in your account.
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A loan is a two party relationship and both parties have responsibilities. Also there are known consequences to default. Defaulting on a loan has nothin to do with morality as far as I'm concerned. If you are fine with the consequences of default then do so. It's not immoral as everyone knows the risk/consequences.
I don't think whether or not everyone knows the consequences is relevant. You can work out the purely legal or administrative downsides (to you) of lots of things.
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Well he can't have paid the 2 million back as he has no money. I imagine he'll declare bankruptcy.
That'd be my thought. Bankruptcy might slow down becoming a lawyer? Not sure.
> I was just unlucky I guess that it happened to me. People like this who have no sense of personal responsibility are an evil in the world. He spends millions of dollars of other people's money, declares bankruptcy (presumably), and when his actions are deemed dishonest and immoral, though not technically illegal, he acts like that's just name-calling and gets right back up on his high horse. Remind you of any Presi…
Institutions like this that have no sense of financial responsibility are an evil in the world. They lend out millions of dollars of other people's money, declare the debts in default (presumably), and when their actions are deemed imprudent and unprofitable, though not technically illegal, they acts like that's just name-calling and get right back up on his high horse. Remind you of any Wall Street bank?
> My six months behind bars gave me a unique perspective on jail. I suspect it's really not all that unique.