The former global head of mergers and acquisitions at Barclays, Steven McClatchey, was sick of the bullshit on Wall Street, after 32 years of hard work. Instead of retiring, he sought out a job as a fucking plumber — unclogging toilet bowls and removing shit from pipes. That was his first mistake.
His second mistake was telling a fellow worker of pending mergers — specifically in Questcor Pharmaceuticals Inc., PetSmart Inc., Emulex Corp. and Omnicare Inc.
“I’m a good man who made a serious error in judgment,” McClatchey told U.S. District Judge Katherine Polk Failla in Manhattan at his sentencing hearing Wednesday.
His buddy executed 10 trades and made $76k on the tips. He then gave McClatchey his ‘cut’ by handing over gym bags of cash and handshakes filled with crispy $100 bills. Retard level thinking.
He also did free tile work in McClatchey’s house, as a form of appreciation for the windfall.
Prosecutors went for the throat on this one. There is nothing more disgusting than a plumber making money off insider information.
“This was a period of 19 months, with multiple trades,” Failla said, in rejecting the defense plea for a sentence of home confinement. She called McClatchey’s actions “an extraordinary breach of trust.”
In separate news, former head of MF Global and establishment shill, John Corzine, avoided trial altogether for literally stealing money from client accounts to shore up MF Global’s failing balance sheet. His actions directly caused people to lose $1 billion, yet he received zero prison time.
Sounds reasonable.
Mr. Corzine, former Chief at Goldman, now spends his days trading his own fortune in Central America working on philanthropic projects — specifically Covenant House — because giving back to the people is what he’s all about.
If you enjoy the content at iBankCoin, please follow us on Twitter
Let me beat Joshua and Peaches to the punch – “it’s because Corzine was a Republican that he escaped the clutches of justice while the plumber was a registered retarded Democrat”
Damn that was good! Extra Hillary!
I don’t get it. Corzine was a Democrat
Dude, I couldn’t give a shit less about democrats or republicans. Both parties are complete failures. And these stories make me sick. If you’re high enough up the ladder, you get to do whatever you please.
I don’t understand your allegiance to Hillary. If anyone took advantage of their position on the political “ladder” it was her.
Actually, Corzine belonged to the Clintons.
You are correct – I stand corrected. Just trying to make a point. My attempt at a fake blog post
You’re assuming I’m a Hillary fan because I don’t like Trump. I think our choices have become awful. If you look around though, it’s not hard to see why. I think the actual Donald Trump, not the character he’s become would’ve made a fine president.
It’s about who owe’s you and who you know.
Sounds bitter but it is what I believe.
There is nothing to see here children, now move along. …It’s shit like this that makes me believe that there really is a God after all. A day of reckoning will befall evil at a prescribed time in the future.
You all have your eyes on this and political circus while deep state is forcing Vix to maintain 11.50 or lower. Nice 11.26 close.
+98 dow today only existed because of government bankster programming. Oh, no it’s regular investors and traders right?
So some endgame coming and your eyes are on the russia hack nonhack. When they should be on the buttons (literally) they are pushing
So, what’s your problem then? Why in the Fock would be all 3x’s levered up short if you know it’s all a sham? No trophies for being first.
“gym bags of cash”
LOL
Now peeches, or pooches or fruitcake or whatever his name is might fall for that one since he’s never had a job but unless it’s $1 bills, I can (and have) fit $76K in a quart-size freezer bag.
Away with all the hyperbole Dr. Fly. This isn’t a comedy club… Oh, wait…
Damn, I should’ve linked form original source. I swear to you it said that. I am sure if you googled this story you could find that line.