April 14, 2012
-- by Dave Johnson
"Prison is what makes the difference. Otherwise, it’s only money." If you put executives in jail when they commit crimes, the rest of the executives will stop committing crimes!
But there is another reason corporate executives need to be prosecuted when corporate crimes take place. It sends a signal to every other executive about what is — and is not — acceptable behavior. The threat of prison can change a culture faster and more effectively than even the heftiest fine. If, after the Texas City explosion, one BP executive or more had been prosecuted, it seems to me quite likely that the Deepwater Horizon accident would never have happened. A prison sentence would have done the thing that all those fines never did: force the company to begin paying attention to safety.
Prison is what makes the difference. Otherwise, it’s only money.
OK, NOW, go read Richard Eskow's story of ANOTHER SEC "settlement" for felonies that \enrich the 1% at the expense of the rest of us: The Latest SEC/Goldman Sachs Sweetheart Deal Is the Worst One Yet
Posted by Dave Johnson at April 14, 2012 4:01 PM
OK, then let's start by putting Jon Corzine (D-NJ) in prison for "losing" $1.2 Billion of investor money.
But of course he won't be prosecuted by the heavily political Holder DOJ.
Quid Pro Quo. You pay you play. Or, you pay you go free.
Posted by: Scorpius at April 16, 2012 10:55 AM
Yep, there's ONE prosecutiot that is probably needed.
But the problem is a lot bigger than that. NO ONE is being prosecuted, compared to thousands after the S&L Crisis, with over 1,000 jailed!
Posted by: Dave Johnson at April 16, 2012 11:10 AM
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