91–100 of 106 posts
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I would do 3 years for $100MM. I would do the next three years for $100MM, and they're pretty important years in my family! Someone offer me $100MM to be imprisoned for the next three years; I will put my money where my mouth is on this.
What if they were the last three years of your life?
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This would make for an interesting loser pays auction.
if you assume a 4-5% return on the money, only want to live off the returns (not the principal) and "six figures" (say, $250,000) is enough as yearly, net income...the lowest a person would go is about USD$6.7MM (after tax, of course)
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Not that terrible compared to other prisons. Compared to freedom, though, not so not-that-terrible.
If I had to choose between a minimum security federal prison and 3-4 long-distance airline flights a week and living out of hotels (a not-unusual travel burden for the kinds of people who make 7 figures a year reliably), I would have absolutely no trouble picking "prison". Remember: the premise here is that once you do your bit, you're set for life.
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It's the elephant in the room, textbook revolving door regulatory capture.
So, let's ignore the SEC here for a second (which truly is a mess): These folks are tax lawyers. They obey every ethical restriction placed on them by the state bars. If they quit the federal government, where exactly are they to go to have a job?
The generalization of this principal to other government institutions (agencies, departments, offices including even the presidency) is one of the great problems of governance of our time. You can take the remuneration discrepancy as the "0=1" conclusion of a reductio ad absurdum argument against unfettered capitalism or as an argument that resistance is futile.
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I'd add that $100M makes it easier, a felony conviction, especially at the federal level is no joke.
I used to see ads on TV for pardoning services, that implied that they could restore your ability to travel. Does anyone know if those actually work? If they do, then you might really be clear and free with a bit less than $100MM after, say, 5 years.
Personally, I'd stick to the PowerBall for a get rich quick dream.
I'm not sure if I understand the term "wisely" correctly.
Whistle blowing is a total crap shoot. We'd have much more of it if that wasn't the case.
If the data you provide is so damning you don't even need to prove that you're a reliable source, then you could submit it anonymously, as an encrypted block along with a public key to decrypt it. Then, if things look favorable, you can step forward and prove your identity by supplying the matching private-key. I expect the problem is that first "if" -- authorities may want to be super-sure of the origin of the infor…
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The mistake he made was implicating himself in a crime without getting the deal first. He should have gone in and said "I can testify to criminal behavior, but only if you'll give me immunity." That's probably what his bosses did.
It should be either-or. Either you take the time and the money, or you get off with a warning and don't make a dime from the IRS.
Earlier quoted context omitted.
This would make for an interesting loser pays auction.
if you assume a 4-5% return on the money, only want to live off the returns (not the principal) and "six figures" (say, $250,000) is enough as yearly, net income...the lowest a person would go is about USD$6.7MM (after tax, of course)
EDIT: On further thought, I'd go for much less, I think. It's really just a comparison the money offered against A) the amount I'd expect to earn in those 3 years, B) expected loss of lifetime income due to the time lost and/or resulting stigmas, and C) personal discomfort/inconvenience of the lockup time.
Hard to figure the latter two, but I expect even half a million would tip the balance in my case.