Friday, October 28, 2011

Occupy Wall Street truth pill: About those evil corporations

This video summarizes what #ows (Occupy Wall Street) protests are all about. They make general statements about corporate greed and apparently that's enough to demand for free hand outs. What's worst is that the mindless hordes (aka zombies) generalize corporations as evil.

  • About 70% of American households invest in corporations through retirement accounts. Corporations have to produce profit and create shareholder wealth. In essence, part of their job is to make sure 70% of American households have more money than what they originally started with. Is this wrong? Most logical people would say, no. But zombies, do they understand this?

  • It is wrong when people do fraudulent activities. It is also wrong when mindless hordes say corporate executives who break the law do not go to jail or have not been punished. I have listed just a small sample of people that have gone to jail. But do zombies understand this?

  • Jeff Skilling, former CEO of Enron, Serving 24 years for fraud, insider trading, and other crimes related to the collapse of Enron

  • Bernie Ebbers, former CEO of WorldCom, Serving 25 years for accounting fraud that cost investors over $100 billion

  • Dennis Kozlowski, former CEO of Tyco, Serving 8 to 25 years for stealing $134 million from Tyco

  • John Rigas, former CEO of Adelphia Communications, Serving 25 years for bank, wire, and securities fraud related to the demise of Adelphia

  • Sanjay Kumar, former CEO of Computer Associates, Serving 12 years for obstruction of justice and securities fraud

  • Walter Forbes, former CEO of Cendant, Serving 12 years for fraud

  • Richard Scrushy, former CEO of HealthSouth, Serving 7 years for bribery and mail fraud

  • Joseph Nacchio, former CEO of Qwest Communications, Serving 6 years for insider trading

  • Sam Waksal, former CEO of ImClone, Served 7 years for securities fraud (released last year)

  • Martin Grass, former CEO of Rite Aid, Served 6 years for fraud and obstruction (just released this year)

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