Forget “Forgo”; How About Some Real Libor Punishment??

“for-go” verb \for-ˈgō\: to give up the enjoyment or advantage of : do without

–Merriam-Webster’s Dictionary

At least as I understand and use the word “forgo,” you give up — forgo — a second scoop of ice cream on a slice of cherry pie à la mode.

Or maybe skip the whipped cream on the same piece of pie.

By contrast, “forgoing” a $31 million bonus somehow doesn’t quite seem to be an appropriate or adequate response when the too-big-to-fail Bank you run turns out to have helped rip off investors globally to the tune of tens of billions of dollars, and you’re ousted along with other senior managers, thereby jeopardizing your VERY lush compensation package.

In fact, it seems like a rather mild consequence, if I may say so.  

Or, perhaps we should simply say that bank robbers — and Diamond sure looks like one, albeit a very sophisticated one — have decided to “forgo” their liberty and loot once they’re apprehended, tried and convicted.

Except that, unlike common bank robbers, folks like Diamond (and many, many others like him) don’t appear to be in much jeopardy of those things happening.

Question of the day (decade?):  how come??

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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