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It's Not A Lie If You Believe It

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Do you remember what you were doing on 9/11, pre-8:45 am? I was in math class, trying to come up with a totally bull shit but failsafe excuse for why I hadn’t done my homework. You were probably doing something like that too. A reason you hadn’t sent your associate that model. A justification for why your fund dropped 47 percent in two weeks. Then, something happened, and the world changed. I won’t get into it here, but suddenly, we all had the ultimate excuse on our hands, one that could work in any and every situation. One that put “my alarm didn’t go off” and “there’s been a death in the family" to shame. You know what I’m talking about—9/11. And we’ve used it in sickness and in health ever since (usually in health, because “I’ve got a head cold” is a pretty good excuse on its own). It’s almost, dare we say, the silver lining to a very unfortunate event.
Today we kiss that silver lining good bye. A dangerous precedent has been set, and Morgan Stanley is to blame. The bank agreed to pay $12.5 million to settle charges that it failed to provide arbitration plaintiffs with e-mails it claimed were destroyed on September 11, 2001, when, in fact, it was discovered that the e-mails had been saved on backup files, more or less ruining it for the rest of us. So, thank you, Stan O’Neal Phil Purcell. For a whole lot of nothing. We all now have our work (to get out of work, among other things) cut out for us. Ass.
Morgan Stanley to Pay $12.5 Million in E-Mail Case [Reuters]