ONE MORE BANKSTER GOES DOWN

I don't get why the sentence isn't MUCH longer.

Ex-Credit Suisse CDO Chief Pleads Guilty to Conspiracy
By Bob Van Voris - Apr 12, 2013 12:45 PM MT
BLOOMBERG NEWS

Kareem Serageldin, the ex-global head of Credit Suisse Group AG (CSGN)’s structured credit trading business, pleaded guilty to conspiracy, saying that when he discovered subordinates falsifying the value of mortgage-backed bonds in late 2007, he joined the scheme rather than stop it.

“Why did you do that?” U.S. District Judge Alvin Hellerstein asked Serageldin today in Manhattan federal court.

“To preserve my reputation in the bank at a time when there was great financial turmoil in the marketplace,” he said.

Serageldin, 39, pleaded guilty today to a single count of conspiracy to falsify Credit Suisse’s books and records, which carries a maximum prison sentence of five years.