In light of Michael Cohen’s conviction and prison entrée on May 6, we thought we’d share a fascinating story from Institutional Investor on what white collar criminals and Wall Streeters face in prison. Since the 80s and the height of the “greed is good” era, there has been a perception that the minimum security prisons that white collar felons go to are more akin to hotels (think “Club Fed”). It turns out they’re a bit rougher than that, though still very different from your run-of-the-mill high-security prisons.
It was also interesting to read about the struggles these people have when trying to re-enter society. All in all, an extremely well reported piece, and a good job by Institutional Investor for getting so many ex-con Wall Streeters to speak so candidly on the record. Bottom line—Stay true.