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Regulators Criticize Banks For Lending Uber $1.15 Billion (venturebeat.com)
Federal regulators criticized several Wall Street banks over the handling of a $1.15 billion loan they helped arrange for Uber this past summer, reports Reuters, citing people with knowledge of the matter. From the report: Led by Morgan Stanley, the banks helped the ride-sharing network tap the leveraged loan market in July for the first time, persuading institutional investors to focus on its lofty valuation and established markets rather than its losses in countries such as China and India. The Federal Reserve and the Office of the Comptroller of the Currency (OCC), which are trying to reign in risky lending across Wall Street, took issue with the way in which the banks carved out Uber's more mature operations from the rest of the business, the people said.
Ride sharing has a specific meaning, and Uber is not it.
Realize though that the reason people working for a corp don't go to jail is mostly on the shoulders of the DoJ. If the DoJ wanted to throw the CEO in prison for something illegal the company they are responsible for did, they can. See here for evidence. If you would like to see the DoJ throw more CEOs in prison for wrong doing of their companies, demand it of your elected officials and vote them out if the refuse. This actually is one item you can directly blame the president for since he actually does preside over the DoJ.
Yup. That's one of the only ones I can think of off the top of my head. Oh, maybe that kid who tried to run a pharmaceutical company. But, that's my point. It happens much more rarely than it should. Who from GM was sent to jail for killing over 100 people by knowingly using bad ignition switches? Every industrial accident that was the result of negligence? Or even companies that willingly and knowingly sell things to people that give them cancer?
I don't respond to AC's.