Posted by Larry Doyle on August 19th, 2014 8:31 AM |
When a penalty does not fit the crime it should come as no surprise that the activity in question is likely to perpetuate.
We would seem to see evidence of this reality in the ongoing “wash, rinse, repeat” cycle of money laundering activities at the laundromat heretofore known as Standard Chartered Bank.
Posted by Larry Doyle on December 11th, 2012 8:42 AM |
Can you imagine if those involved in organized rackets including prostitution, drug dealing, human trafficking and the like were able to resolve their criminal activities by merely paying a fine?
What do you think their response would be? Do you think they would take a vow of chastity and then look to engage in upstanding business? Of course not. They would think “how the hell do we get that money back?”
Human nature being what it is, are we to believe that simply because executives of a banking institution issue a few mea culpas, accept some tough language, clawback some individual compensation, and profess to clean up their act BUT FACE NO INDIVIDUAL PROSECUTIONS might really change their stripes? Or are they inclined to think, “how the hell do we get that money back?” (more…)