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by GVIrish
4235 days ago
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> It's not worth all the human suffering caused by a depression instead of a recession just to prove that the banks should be more cautious. It's not about proving a point, it's about preventing this situation from happening again. If the financial industry knows that outright financial fraud on a massive scale will never be punished, it ensures that outright financial fraud will continue unabated in the future. Millions of people will be hurt again because we didn't want the pain of dealing with the problem now. HSBC got caught laundering money for drug cartels and escaped with a fine. If we're just going to let corporate malfeasance go unpunished, why even have the laws on the books at all? |
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Because the point of laws is not to punish the elite. They may be written to appear fair to the common reader, but they are intended and designed to not apply to the elite.