It’s America’s worst fraternity – a distinction extremely hard to attain, given the competition.
UD loves the image of Yale’s Sean Stewart getting his degree in ethics while being an SAE man, for, as you know, UD loves hypocrisy, the cruder the better. Stewart went on to become a finance person (he’s just been charged with insider trading), and a striking number of finance people seem to go in for this moral seriousness/massive theft of funds approach to life. Michael Martoma, you may recall, was also an ethics guy in college… Bernard Madoff, come to that, was a pious Yeshiva University insider…
None of these men seems to have been able to keep his dual-track life going. Bernie kept it up, as it were, longest, but now he’s rotting in jail. Martoma will get out of jail in nine years, and I’m sure he’s working out in the gym every day in order not to rot. Stewart could go to jail for 25 years, but he’ll get less time than that. Ten years, maybe. He and his father were in on the scheme together (Bernie also made it a family affair), and they used golf code in their phone conversations about their various trades, which is so cute. Golf is this adorable subtext in many insider trading arrests – remember this guy? Does his perp walk while wearing a sweater with little vintage golfers on it! Sweet.