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Wed Oct 24, 2012, 04:57 PM

RAJAT GUPTA: 2 Years. Outrageous.

And this is why the American Justice system is looked at with such a lack of trust by the people:

http://www.forbes.com/sites/walterpavlo/2012/10/24/ex-mckinsey-boss-rajat-gupta-sentenced-to-2-years-in-federal-prison/

Two years for Rajat Gupta.

I can't find anything yet to reveal whether or not the real time served will/could be under two years.

But the continued poor judgment of men like Judge Jed Rakoff, who is, more generally, a grandstanding, often inappropriate, sometimes stunningly anti-factual/logical "maverick," is sickening.

Where is his "maverick" hat now?

Two years to the all-powerful Rajat Gupta, when people get jail sentences WAY above this for drug possession charges that get trumped up into distribution cases.

This is why the hostility is so palpable toward Wall Street.

Why can't a man like Gupta be forced to do adequate time???

Anything less than six to ten years here was a disgrace.

To Obama's credit, he signed the Fair Sentencing Act of 2010, but stuff like this just interferes with the people's trust in their/our own government. This is a real issue that you will hear campaigning in all sorts of states in this country, including a number of red states.

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Reply RAJAT GUPTA: 2 Years. Outrageous. (Original post)
jsmirman Oct 2012 OP
Sekhmets Daughter Oct 2012 #1
jsmirman Oct 2012 #2
Sekhmets Daughter Oct 2012 #3
jsmirman Oct 2012 #4
Sekhmets Daughter Oct 2012 #6
Blue_Tires Oct 2012 #7
Agony Oct 2012 #5
jsmirman Oct 2012 #8

Response to jsmirman (Original post)

Wed Oct 24, 2012, 05:08 PM

1. Be sure to thank Bill Gates who went to bat for Gupta.

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Response to Sekhmets Daughter (Reply #1)

Wed Oct 24, 2012, 05:30 PM

2. And I think it's great that he's done good things in his life

but, what he did has massive effects on our ability to run fair and trustworthy markets.

It involves an enormous abuse of his power and position, with real consequences for large swaths of people around the world.

The time simply does not fit the crime here.

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Response to jsmirman (Reply #2)

Wed Oct 24, 2012, 05:31 PM

3. Absolutely agree with you about that.

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Response to Sekhmets Daughter (Reply #3)

Wed Oct 24, 2012, 06:16 PM

4. Looks like we're the only ones who care... HOLY FUCK, PEOPLE

Believe it or not, this is an election related issue. Not necessarily in terms of our guy winning a vote or losing a vote - but guess what - for GOTV, it damn well is.

You better be ready to be pissed off about this stuff and legitimately sympathetic. Because when someone asks you why the fuck they should vote, this is often part of the subtext behind their question.

And for those of us who actually *do* pound the pavement on Election Day, we know we face potential voters who need a convincing push all the time.

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Response to jsmirman (Reply #4)

Wed Oct 24, 2012, 06:42 PM

6. Wall Street gets away with it

because people don't seem to care.

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Response to Sekhmets Daughter (Reply #6)

Wed Oct 24, 2012, 08:34 PM

7. +1

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Response to jsmirman (Original post)

Wed Oct 24, 2012, 06:41 PM

5. More better justice for the 1%!

"Gupta had received over 400 letters of support that were sent to Rakoff" I would like to see how many 1%'ers are on this list.

"The public weighed in on what they felt was a proper prison sentence with over half asking for a prison term of over 6 years in an unscientific poll at the NY Post. The government wanted up to 10 years."

Interesting that the government couldn't get their way in this case... your point about trumped up distribution charges...

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Response to Agony (Reply #5)

Wed Oct 24, 2012, 08:50 PM

8. Indeed - would love to know the percentage of 1%'ers of those 400 letters

and I just detest Rakoff as a judge.

He's an ass in court, for one

For two, he's got big, giant cojones when it comes to trying to make a name for himself in the legal world by being contrarian and often frustrating justice

And now for three, he's a little lamb in the face of 400 letters from 1%'ers?

And one of his recent "be a contrarian" and "frustrate justice" rulings allowed JP Morgan to get off the hook for conduct in the Madoff affair that to me so manifestly violates securities laws (and this is my area of legal expertise, not that you should just "trust me," but I'm not off in the wind on this, that you can trust me on).

I find this so intensely frustrating.

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