Douglas Hodge, is the former CEO of Pimco, a company you might know about if you pay attention to your workplace retirement funds. PIMCO is one of the cornerstone investments on the bond side, in other words, the safety play. You make your risky bets on the equity mutual funds. Bonds are like the sure thing.
So of course you’d figure to see a guy like Hodge caught in the college admissions scandal.
When you want to insure your four White kids of uncertain academic and personal qualifications get into their elite college of both their choice and yours—and you want no risk–you simply pay the price.
You pay out bribes.
And for that a federal judge on Friday gave Hodge the stiffest penalty against any of the parents involved in the massive scandal—nine months in prison.
The fourteenth of 20 parents sentenced so far, Hodge reportedly told the judge, “I have in my heart the deepest remorse for my actions… I do not believe that ego or desire for higher social status drove my decision making. Rather, I was driven by my own transformative educational experiences and my deep parental love.”
In other words, I guess he really meant: I will cheat for my kids because I love them.
