Friday, June 17

Don't Let Your Kids Grow Up To Be Rich 

The BY Times tells us about more rich people:

"L. Dennis Kozlowski, the former chief executive of Tyco International, and his top lieutenant were convicted yesterday on fraud, conspiracy and grand larceny charges, bringing an end to a three-year-long case that came to symbolize an era of corporate greed and scandal.

The verdict, which came after 11 days of deliberations by a New York jury of six men and six women, is the latest in a string of convictions of corporate executives in recent years.

As the verdict was read aloud, Mr. Kozlowski, dressed in a dark suit and a blue tie, stared straight ahead, trying to hold back his emotions as his face flushed. His wife, sitting with one of his daughters, wiped tears from her eyes. His co-defendant, Mark H. Swartz, Tyco's former chief financial officer, tensed up and looked at his wife; she mouthed, 'I love you.'"

It is so sad. After all, they only stole $150 million. And made $430 million more by lying. Er... artificially inflating the value of their stock.

Play it safe. Avoid the rich.

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