3 ms·

The US has the FTC.

• FussyZeus 9y ago
  Whose fines, in the rare instance they're actually fining companies, never come close to the profits reaped by the activities that broke the regulations in the first place. For reference: The judgement against the banks after the 2008 mortgage crisis, the fines levied against Wells after the debacle with phony accounts, pretty much any case involving a collections agency, etc. When the profits are in the billions, even a fine of 600 million is a paltry line item. You either should fine in an amount relative to the amount made by the illicit activity, or even better, go after the executives behind it directly with said fines or prison. As long as these slimeballs can conduct illegal activity and sail away after "resigning in disgrace" with an 80 million golden parachute, while the company pockets several hundred million, they will continue to do so as has been evident so far for anyone paying attention.
  • johnvonneumann 9y ago
    I've never quite understood how this works, I'm trying to imagine a burglar being asked to give back "some" of what he stole, but not everything, that would be "unfair". Fight fire with fire in many cases, start fining them the years profit, or maybe, just maybe, start treating corporates like the criminals they are.
    • FussyZeus 9y ago
      Because when you're worth several million dollars, the justice system will go to great lengths to pretend your crime wasn't actually a crime. And yeah, this thought is uncomfortable, but I challenge anyone who reads it to prove it wrong.