Archive for July, 2009

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18
Jul/091

Viva Montreal – But Beware!

I recently traveled to Montreal for a family reunion.  Our time in the city visiting the different attractions was very relaxing and rewarding.  Everywhere we went there were signs including at our hotel and the adjacent grocery store just outside of the city warning us not to leave things unattended in your locked car.  I even noticed the constant police patrols through our upscale hotel’s parking lot.  None of that mattered.  I ended up loosing my GPS navigator, iPod shuffle, six or so DVDs and a jacket out of my car.  I also think we lost our Gameboy as it hasn’t been seen since Montreal.  A bit of advice for anyone traveling north into Canada – do not leave anything in your car, locked or not.  Thefts of cars, especially cars with plates from the US, and thefts of car contents, are a real and daily issue up there.

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16
Jul/090

Madoff – A New Measure for Egregiousness?

20 years, because there were fewer victims than Madoff’s, and the toll of the crime effected fewer than Madoff?  Since when does Madoff become the measure? $700 million, hundreds out of jobs – this is still pretty egregious – or am I missing something?  The toll Dreier’s crime took on individuals was devastating, just ask the hundreds of employees of the firm suddenly out of a job in a declining market.   Maybe thousands didn’t loose their life savings like in Madoff’s, but to portray this major theft as nothing more than “a small group of hedge funds and other investors — who lost about $400 million — as well as hundreds of employees who lost their jobs when his law firm collapsed.”  “Mr. Dreier is not going to get much sympathy from this court,” Judge Rakoff said, “but he is not Mr. Madoff from any analysis, and that’s why I can’t understand why the government is asking for 145 years.”  Maybe the government is trying to send a message here with these crimes – you think! (more…)

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9
Jul/090

Update -Dreier (Heard About This One?)

I still can’t understand why some frauds receive much publicity, while others equally deserving and in the public’s eye receive next to no attention.  This Connecticut fraud involved an attorney who single-handedly brought down a multiple office law firm employing hundreds of lawyers and staff.  Yet the only place I see any media coverage is within the Connecticut Law Tribune, and that’s likely only because it involved a lawyer and law firm.  Mr. Dreier allegedly embezzled $400 million dollars – that’s a lot of money.  Granted it’s not Madoff’s “billions”, but what he did effected hundreds of employees of the firm as well as his victims.  Here’s the story in today’s paper.

Here’s a link to an article:

http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202432112171&slreturn=1

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