4 ms·

Well, white collar crimes are not punishable offense.

by myth_buster 8y ago

peteretep 8y ago
If you have some legal insight, I'm sure the Manafort team would love to hear from you.
- URSpider94 8y ago
  While GP's comment is somewhat tongue-in-cheek, the Manafort conviction is so newsworthy because it is such a rarity that white-collar criminals get prosecuted to this extent. It's the exception that proves the rule. Keep in mind, after the 2008 global financial crisis, in which several prominent financial institutions failed and millions of people lost their homes to foreclosure, only one banker was sentenced to jail time, and only for 30 months.
  - joering2 8y ago
    Why would you want to jail innocent people? Sorry to be a devils advocate but past administration loosened up rules based on which you were or were not supposed to be eligible for a loan to an extent which it should never be. Unless you want to jail George Bush or some of his staff members, there is not so much fault around to put on people working in financial sector.
    - TheOtherHobbes 8y ago
      I would love to jail George Bush and some of his staff members. Interestingly, you have just implied that ultimately no one can be held accountable for these failures. Isn't that a bit of a problem?
      - peteretep 8y ago
        > you have just implied that ultimately no one can be held accountable for these failures. Isn't that a bit of a problem? Yes, but not one to be solved by retroactively classing behaviour that wasn't a crime then as a crime now. The right solution is to criminalize the behaviour moving forward.
  - seanhunter 8y ago
    > after the 2008 global financial crisis, in which several prominent financial institutions failed and millions of people lost their homes to foreclosure, only one banker was sentenced to jail time, and only for 30 months. Just because something bad happened doesn't necessarily mean there was a crime for which an individual can be sentenced to jail time (regardless of public outcry after the fact). Here's a list of SEC enforcement actions arising from the crisis https://www.sec.gov/spotlight/enf-actions-fc.shtml https://www.sec.gov/spotlight/enf-actions-fc.shtml
  - slededit 8y ago
    One of the most common crimes (and the most direct cause of the crises) during that saga was actually bank fraud from overstated incomes. Nobody really went to jail for that either.

Well, white collar crimes are not punishable offense.

peteretep 8y ago

If you have some legal insight, I'm sure the Manafort team would love to hear from you.

URSpider94 8y ago
While GP's comment is somewhat tongue-in-cheek, the Manafort conviction is so newsworthy because it is such a rarity that white-collar criminals get prosecuted to this extent. It's the exception that proves the rule. Keep in mind, after the 2008 global financial crisis, in which several prominent financial institutions failed and millions of people lost their homes to foreclosure, only one banker was sentenced to jail time, and only for 30 months.
- joering2 8y ago
  Why would you want to jail innocent people? Sorry to be a devils advocate but past administration loosened up rules based on which you were or were not supposed to be eligible for a loan to an extent which it should never be. Unless you want to jail George Bush or some of his staff members, there is not so much fault around to put on people working in financial sector.
  - TheOtherHobbes 8y ago
    I would love to jail George Bush and some of his staff members. Interestingly, you have just implied that ultimately no one can be held accountable for these failures. Isn't that a bit of a problem?
    - peteretep 8y ago
      > you have just implied that ultimately no one can be held accountable for these failures. Isn't that a bit of a problem? Yes, but not one to be solved by retroactively classing behaviour that wasn't a crime then as a crime now. The right solution is to criminalize the behaviour moving forward.
- seanhunter 8y ago
  > after the 2008 global financial crisis, in which several prominent financial institutions failed and millions of people lost their homes to foreclosure, only one banker was sentenced to jail time, and only for 30 months. Just because something bad happened doesn't necessarily mean there was a crime for which an individual can be sentenced to jail time (regardless of public outcry after the fact). Here's a list of SEC enforcement actions arising from the crisis https://www.sec.gov/spotlight/enf-actions-fc.shtml https://www.sec.gov/spotlight/enf-actions-fc.shtml
- slededit 8y ago
  One of the most common crimes (and the most direct cause of the crises) during that saga was actually bank fraud from overstated incomes. Nobody really went to jail for that either.