[john_strinlai]

>the fines don't make sense for the white collar crimes.

why do we need to jump to caning instead of increasing the fines to something more than an operating expense?

in this case, if the fine was 1000x the profits instead of the other way around, the problem would be solved, right?

[bs7280]

Executives will be more afraid of being sent to prison for criminal charges, than having someone else's money get spent on fines. We can do both - increase the fines and set a precedent of arresting executives when their company does criminal things.

[atmavatar]

In a large enough organization with many layers to it, it very well may be that executives were neither involved nor aware of criminal wrongdoing, and even when they are, you'll never find sufficient evidence to charge them. That's largely the point behind performing criminal acts as a business and why there's so much white-collar crime.

At least if you set fines to a level that such crimes are rarely if ever profitable, you can both remove the incentive for the organization to commit them as well as introduce a passive internal mechanism to prevent them in the first place.

[duped]

In this case they have literal correspondence between the CEOs.

[john_strinlai]

sure, prison time for some criminal stuff is cool too.

i am more pushing back against the call for corporal punishment like caning

[jachee]

What if I told you that prison is also corporal punishment?

[john_strinlai]

i tried to be more specific with the “like caning” part

[jackb4040]

I have no moral objection, but it would just change the composition of CEOs as a group. Instead of just selecting for sociopaths, we'd start selecting for sociopaths with high pain tolerance.

[weaksauce]

In any other crime you get caught doing you do not get the benefits of the ill gotten gains. why should this be any different?

[john_strinlai]

i am saying the fine should exceed the ill gotten gains. so, they would not get the benefits

[weaksauce]

yeah, I'm in agreement with you. other crimes the ill gotten gains are taken back and additional penalties are levied against the perpetrator. just saying why should these crimes be treated any different?

[john_strinlai]

i think i read your comment in defense mode, and interpreted it incorrectly!

[vondur]

In theory there will be some class action lawsuits that will come about from this now that this report is public. Those can get very expensive.

[Supermancho]

> the problem would be solved, right?

Corporal punishment is laughable outright, but that's masking the issue. Punishing corporations does not discourage the participants directly. The behavior will not change.