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Personally I don't like that regulatory oversight is being outsourced to lawsuits both class action and from regulators. One might say that if Comcast were over
by sseveran 9y ago
Personally I don't like that regulatory oversight is being outsourced to lawsuits both class action and from regulators. One might say that if Comcast were overcharging their customers they were defrauding them. And while I am generally in favor of weaker regulations I am in favor of much stronger penalties for those that break the law. In your example not only should Comcast be disgorging any fraudulently obtained gains with interest, people should be going to jail. We have as a country for too long accepted this system where when a company does something illegal we let those that committed the fraud off the hook and send the bill to the companies shareholders. The idea that HSBC should have been allowed to continue to operate in the US after its conduct is absurd, (and yes I understand what would have happened if their banking license was pulled). That there have not been large numbers of arrests of Wells Fargo employees given the amount of fraud committed and laws broken is also absurd. If you or I fraudulently opened millions of accounts we would rightly be going to prison for a very long time.
I do find it gratifying to see VW employees being indicted. But the arrest of executives who commit wrongdoing is far too rare these days.