Tuesday, July 14, 2009 1 comments ++[ CLICK TO COMMENT ]++

NYSE Euronext not happy with prison consulting firm

I ran across a somewhat funny Guardian story I saw initially saw in The Globe & Mail. The story deals with an attempt by NYSE Euronext to prevent a prison consulting firm from implying that Wall Street is filled with criminals. Maybe I just have a weird sense of humour but I can't help but laugh at what the consulting firm founder, who himself is a convicted criminal, says:

The NYSE has fired off an angry "cease and desist" letter to a consultancy firm called Wall Street Prison Consultants, which offers advice to white-collar felons on how to survive life behind bars.

Established by convicted fraudster Larry Levine, the consultancy offers a "Fedtime 101" course teaching errant financiers anything from prison etiquette to the basics of brewing alcohol from food remnants. But its website has infuriated the NYSE as it shows a picture of the stockmarket floor and asks: "Going from the exchange floor to the prison yard?"

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Levine spent a decade in prison on drugs and fraud convictions. While inside, he taught himself about the legal system and began dispensing advice to fellow inmates. He maintains that business has been steady since the financial crisis began to throw up evidence of corruption.

High-profile actions in the US have included the prosecution of Bernard Madoff, Sir Allen Stanford and mortgage tycoon Angelo Mozilo.

Levine said: "The NYSE is in the dark if they believe that my use of their images tarnishes their reputation when Wall Street is full of dirty traders."

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1 Response to NYSE Euronext not happy with prison consulting firm

Daniel M. Ryan
July 15, 2009 at 1:40 AM

Everyone's gotta make a buck...

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