Reply #5: notes on pigmen [View All]

[rapier]

The more important point, perhaps, is why the man needed or even got a $24 million dollar 'loan'.

As these things go they are not loans. It is understood by all parties that the 'loan' is never to be repaid. It is a form of compensation. I suppose a stinking railroad can't play the options game because their stocks are so moribund usually, so they resorted to the phoney loan thing.

This is a tiny part of the wealth transfer mechanism that is so successfully destroying capitalism, the markets and democracy. The wealth flows to the top. The bottom are left with the bills. Snow joins the government as a top line player as a reward for his theft. Bizzarely, CSX stockholders, who were ripped off for the $24 million are probably happy for the most part.

and oh yea, the IRS looks the other way. After all, it's practially a moral obligation for such wealthy pig men to cheat on taxes.