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A while back, credit reporting agencies hustled to adjust in the face of a few, but monetarily very successful, libel suits -- IIRC from memory. It would seem
by pasbesoin 10y ago
A while back, credit reporting agencies hustled to adjust in the face of a few, but monetarily very successful, libel suits -- IIRC from memory.
It would seem that, with the right legal representation -- one willing to go the distance -- Ashley might have grounds for a very significant libel suit.
Wells Fargo management deserves to go to jail, in my opinion. However, it would also give me great joy to see them lose hundreds of millions of dollars to such suits.
They wholeheartedly deserve it, as do some of the line employees who had to endure such abuse.
Further, if the "gubmint" was serious about investigating and prosecuting criminal behavior, in addition to actually holding those responsible for policy accountable and jailing them, I'd like to see the laws for once enforced, at Federal and State levels, that require the government to cease doing business with financial establishments convicted of criminal offenses.
We have laws. And we have resources for criminal investigations. For once, let's actually put them to use.
If not, go after the politicians and government employees obstructing justice. If not with a formal charge, then by ending their careers.
- carterehsmith 10y ago> that require the government to cease doing business with financial establishments convicted of criminal offenses. I guess that's why most of those settlements are worded so that there is no criminal offence. As in, "Company X agrees to pay $XBn to the gubmint, but admits no wrongdoing." I wonder if, once pushed to a higher court, such a clause (or the whole settlement) could be declared invalid. As in, if you did no wrong, why exactly are you giving $XBn to the government? Is that some kind of bribe? As in, I give government money, they don't bother me about the crap I did. Frankly the whole thing looks like a regular business contract between X and government, not a "guilty" judgment.
- nattofriends 10y agoIt is enforced. See Arthur Andersen.
- travmatt 10y agoFunnily enough, I learned about Arthur Andersen in the context of why it is not enforced. Subsequent firms have committed far worse offenses.