Ethics Anyone?

I was skimming through the journal earlier and noticed that a vice president of AIG's reinsurance business faced 20 years in prison. Apparently he helped AIG inflate reserves by $500 million several years earlier that caused losses to investors. Anyone surprised? What if I told you he only has to serve 4 years in prison, pay a $200,000 fine, and have a 2 years supervised release. Somehow I am still not surprised.

I am taking a course called managerial accounting. We are currently talking about ethics. We we first started it, I thought it was a complete waste of time. Everyone knows to be honest in their respective businesses. Oh how I was wrong. This is just another example of people being dishonest, hurting innocent investors, and not being caught for years. I realize it sometimes takes awhile to catch these things, but does anyone notice a pattern?

Not only that but look at the sentence. Only serving 20% of potential prison time. This probably help contribute to AIG's collapse and cost investors millions and millions of dollars and all he pays is $200,000. This is wrong! Not only are we lacking in regulation, but we can't even bring ourselves to punish those who are stupid and take advantage of their positions? He got nothing but a slap on the wrist. It is completely shameful to just these things keep occurring and with nothing to say for it. Completely ridiculous! The morals in this country have just been getting worse and no one seems to care. We are in the middle of a complete collapse of the financial system and no one is stepping to the plate.