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Originally Posted by boldruler
You don't seem to understand the stock market or pensions. The price was based on cooked books, people were buying or given something that wasn't really there in terms of value. The stock is part of compensation which means these people thought they were being paid more than they were actually getting. It is the equivalent of being paid and then finding out when you go to spend your money that the money you were paid with was counterfeit. He sold the worthless stock for millions when he knew it was worth nothing. Just to let you know, when someone sells it, someone is buying it. He sold worthless paper for millions.
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Unfortunately, that's the nature of this business too as a whole. (I work for a securities firm, so I would feel confident in saying that I know about the situation.) Because of this particular situation, we have the SEC breathing down our necks about everything.