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I worked at one of CSFB's ancestor firms, and I can tell you the compliance policies were crystal clear and tightly enforced. This yutz thought he was above the law, and too smart/rich/connected to be expected to live by the same rules as the rest of us peons.

he later hugged his crying mother

I feel sorry for her. Not in the least for him.

"This yutz thought he was above the law, and too smart/rich/connected to be expected to live by the same rules as the rest of us peons."

I respectfully beg to differ. I know Frank personally -- haven't seen him in 15 years, however -- and he is not what the media tries to portray himn as. I of course have not asked him if he is guilty but as for his character -- well, he is a fine man who rose from his modest Italian roots and worked his tail off. To claim he arrogantly ran around thinking he was better than the rest of us is wrong.

Don't forget -- he wasn't lining his pockets, or making corrupt deals, like Ivan Boesky of the 1980s; or the Milliken brothers of the 1990s. The SEB needed a scapegoat for the dot.com craze and all they could find was Frank and a single email. This is not like the far more egregious excesses of the past.