Tuesday March 5 2013
Ernst and Young agreed to pay $123 Million to settle charges of peddling abusive tax shelters. This comes several years after a similar plea deal with KPMG which paid $450 Millon , the largest fine ever.
EY does not know right from wrong? How do these guys retain credibility? Did anyone lose their license, did anyone get personally fined, did anyone go to jail? No, like Goldman Sachs and the TBTF banks, they just pay some money and go right back to work.
I wonder how Bernie Madoff and Jeff Skilling, both in jail, feel about this.