What transpired at Semgroup was no less than a $500 billion fraud on the people of the world.
Sentiment: NEGATIVE
If it were not for government regulation of big corporations, executives at companies like Enron, WorldCom, Tyco, they could have cheated investors out of millions.
The collapse of Enron was devastating to tens of thousands of people and shook the public's confidence in corporate America.
I want to be clear. No company is too big to be prosecuted. We have zero tolerance for corporate fraud, but we also recognize the importance of avoiding collateral consequences whenever possible.
Things gained through unjust fraud are never secure.
There are some frauds so well conducted that it would be stupidity not to be deceived by them.
Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
Turning corporations loose and letting the profit motive run amok is not a prescription for a more livable world.
We believed the world didn't need another commoditized venture capital firm.
It is now clear that major irregularities did not occur.
Who authorised the spend of millions of pounds and thousands of man hours into a stale, historical situation from three decades ago - with virtually no complaints made?