Aug. 5 (Bloomberg) — Bloomberg news columnist Jonathan Weil talks about how Alex Yan, a mid-level officer at United Commercial Bank, was sentenced to 27 months in prison for stealing money from his employer to support his gambling habit, and about how the US Treasury lost its entire TARP investment at UCB when it failed. Weil talks with Lizzie O’Leary and Matt Miller on Bloomberg Television’s “Street Smart” (Source: Bloomberg)
Government-run gambling. It’s not three card monty but it’s a sucker’s game and the odds are you’ll end up lining government pockets.