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“Mr. Cohen, whose enormous compensation and conspicuous consumption have made him an emblem of the new Gilded Age, has not been charged criminally. Still, the plea deal is a devastating blow to Mr. Cohen, as the firm that bears his initials will acknowledge that it was a corrupt organization.”

Brown University’s finest.

Steven Cohen remains on Brown’s board of trustees, an inspiring reminder to students there that you can run “the first large Wall Street firm in a generation to confess to criminal conduct,” a firm whose corruption is “unprecedented in the history of hedge funds,” a firm that has become “a symbol of financial wrongdoing,” and still be a Brown University trustee! Go ahead and be HUMongous financial wrongdoers, kiddies! The more money you make, the more likely you’ll be named to the Brown Corporation!

How humongous, you ask? The man’s a fucking pioneer! He’s making history! The SEC, emboldened by its success against Cohen, is said to be going after a number of other university trustees and honorary degree recipients.

[The SEC is] weighing a criminal charge against JPMorgan Chase [headed by Syracuse University commencement speaker/honorary degree recipient Jamie Dimon] related to its role as Bernard L. Madoff’s [Yeshiva University trustee] banker…

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UPDATE: MattF, a UD reader, links to this important background on Cohen. UD thanks him.

Margaret Soltan, November 4, 2013 12:04PM
Posted in: trustees trashing the place

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One Response to ““Mr. Cohen, whose enormous compensation and conspicuous consumption have made him an emblem of the new Gilded Age, has not been charged criminally. Still, the plea deal is a devastating blow to Mr. Cohen, as the firm that bears his initials will acknowledge that it was a corrupt organization.””

  1. MattF Says:
    November 4th, 2013 at 12:29PM

    Felix Salmon’s great post on why the case against Stevie Cohen is important:

    http://blogs.reuters.com/felix-salmon/2013/07/21/the-secs-important-case-against-stevie-cohen/

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