Here's my alternative view on giga Billionaire outrageous spending sprees

[JackRiddler]

41. Not really.

I prefer the perspective where it causes outrage and calls for higher taxation. Also, in the case of the Bear Stearns/Goldman Sachs con artist who probably prompted your observation, this exposure of his insane spending should lead to indictments, not for the spending, but for the epic scams he ran in defrauding investors and destroying peoples' lives to triple-dip for profit. Because it's not like he earned this money doing legitimate business.

Link: Story of Jeffrey Verschleiser, Goldman Sachs executive, the three-day Bat Mitzvah he just held for his daughter (poor girl - really), and the scams he conducted while at Bear Stearns that made him a lot of money while fucking up the world.

http://www.rollingstone.com/politics/blogs/taibblog/everything-you-need-to-know-about-wall-street-in-one-brief-tale-20120113

Must reading!

In the story, Taibbi makes the following comment:

It’s certainly heartening that Verschleiser is spending this money on his daughter instead of, say, hiring a busload of Jamaican hookers to spend the weekend lounging with him in a hot tub full of Beluga caviar. People ought to give their children the best, I guess.

I don't know about that at all. I think this is a terrible thing to do to your child. Really. It's no favor. There is a whole universe of worse ways parents can treat their children, but this is not a good thing at all.

I know Taibbi is being sarcastic. But still. Whereas the Jamaican hookers, assuming they're already professionals and the weekend goes as described, will at least get some very good paydays. Possibly remit much-needed sums to their relatives back home.

Anyway, read the story, because the part about the bat mitzvah is just icing. The point is that this one of the several hundred unindicted major perpetrators of the Great Financial Fraud and Banking Crash of 2007-2009. Now that his crazy spending has focused the world's attention on him, he should not be facing ridicule for the crazy spending. He should be facing years in prison for the crimes that preceded it.