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by shkkmo 1616 days ago
> In any decently regulated activity, executives would risk jail for that.

In the US, executives never go to jail. They negotiate "settlements" where the company doesn't even have to admit wrongdoing and the companies are fined slightly more than they made from the wrong doing.

I would love to to see the executives face jail time, both neither major party political party has any interest in changing things.

1 comments

The comment you reply to mentioned Enron, which is famous for sending people to actual Jail. Jeffrey Skilling spent 12 years in prison - https://en.wikipedia.org/wiki/Jeffrey_Skilling

I'll grant that post-9/11 priorities have defunded white collar prosecution, but people go to jail in the US. If you really want a criminal-consequence-free jurisdiction, come to Canada. We really don't send people to jail for corporate fraud. The Vancouver exchange is a free-for-all, and Montréal boiler-rooms are a movie cliche.

When investors are the victims, white collar criminals go to jail. We'll soon (re)learn if mere customers have that kind of juice. IANAL, but I'd guess they best they can expect is be party to some class action settlement and the criminals get some token fines.