A serious set of own-goals.
As Richard Nixon once may have said, it’s not the crime that does it – it’s the getting caught!
Here’s a few email / electronic chat transcripts that these firms would rather forget:
You never know when those jokey emails are going to be used in evidence in a lawsuit, or looked over by regulators.
Who could forget Goldman’s ‘Fabulous Fab’, Fabrice Tourre, whose girlfriend emails cost the firm dearly ($550m to settle SEC fraud charges), and upset Belgian widows and orphans the world over:
The Goldman ‘Girlfriend’ E-Mails – How To Ruin A Career & Compromise Your Firm
On March 16, 2007, Morgan Stanley employees working on one of the toxic assets that helped blow up the world economy discussed what to name it.
Among the team members’ suggestions: Subprime Meltdown, Hitman, Nuclear Holocaust and Mike Tyson’s Punchout, as well a simple yet direct reference to a bag of excrement (Shitbag):
The Morgan Stanley ‘Sh*tbag’ Email Shows Risks Of Joking Around
I FEEL SICK EMAILS