Never Get Married
It Makes You Stupid

Posted by Bess Levin, Oct 05, 2007, 11:57am

Former Morgan Stanley lawyer Randi Collatta and her husband Chris have been sentenced to four and three years of probation, respectively, including six months of home confinement which will likely be spent arguing whose idea it was to get involved in an insider trading ring on Wall Street for which they are being punished. The Collattas were among 13 people charged in March for participating in the $15 million scam, though the Bayport, N.Y. couple only made about $9,000 off of the scheme, prompting Judge Victor Marrero to say that they were at the “bottom of the food chain,” which has got to hurt. Ms. Collatta apparently “wept uncontrollably” after hearing that she “faces” disbarment. One wonders what she’ll do when she finds out that she’s “definitely” going to be disbarred. Depressed enough yet? Randi will also serve 60 days in prison on the weekends and evenings, a special provision she was given because her husband’s cancer and severe heart problems necessitate that she be able to provide medical insurance.

Ex-Morgan Insiders Get Home Time [New York Post]

0Recommend this! 13Comments
Posted in: Insider Trading, Morgan Stanley

Comments

Posted by Fake Tom Hanks, Oct 05, 2007 11:59AM

Well, they better start reading "How Starbucks Saved My Life" by Michael Gates Gill.

Posted by , Oct 05, 2007 12:13PM

It is a testament to the state of our great country when our criminals are this stupid. I demand we strengthen our educational system until we have the very best and brightest criminals on the planet.

Posted by Upset in Waseca, Oct 05, 2007 12:14PM

Geez, these people got off easy...

Posted by , Oct 05, 2007 12:18PM

Yikes.

Having recently become married, I can clearly attest that I was already stupid, which I credit as being the direct reason WHY i got married to begin with

Posted by what, me worry?, Oct 05, 2007 2:34PM

medical insurance? she has a job that provides her and her husband with medical insurance? who hired her? Nice job if you can get it. maybe better that way, though, than their feeding off the public and our tax dollars.

Posted by compliance officer, Oct 05, 2007 2:46PM

shows you how stupid people are. throws away her job and license for 9k, which was probably a month's pay at MSCO. surprising she didn't walk out on her hubby who got her in this mess.

more importantly, anyone have a pic of this broad?

Posted by , Oct 05, 2007 2:57PM

$15MM and 13 people? Why do these cases always involve such disproportionately small sums of money?

Posted by anon #1, Oct 05, 2007 3:02PM

@ 2:57, I strongly concurr. What was that line from the mighty ducks, its not worth winning if you can't win big? Somehow, I know that relates to this conversation.

Posted by , Oct 05, 2007 3:12PM

the bitch threw her life away for $9,000!!!!! she should be in jail for rank stupidity, if nothing else

Posted by leroy, Oct 05, 2007 3:18PM

where da pic at?

Posted by JT, Oct 05, 2007 3:27PM

You think the prison system is overcrowded now, imagine if rank stupidity was a crime, 70%+ of the population would be in a cell!

Posted by , Oct 05, 2007 3:36PM

true dat jt

Posted by , Oct 08, 2007 7:28AM

and they should also jail people who say "true dat"

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