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My sense is that there are already laws that allow for the criminal prosecution of responsible executives, up to and including the CEO if he or she knew. But t
by nugget 7y ago
My sense is that there are already laws that allow for the criminal prosecution of responsible executives, up to and including the CEO if he or she knew. But there is a lack of enforcement, whether because of political pressure or mis-aligned incentives or some other motives obscured from public view. As a result, white collar criminals of this type are rarely ever prosecuted.
The best example of this is probably the entire Great Financial Crisis from 2008 on. Rampant illegal and criminal fraud but - from what I remember - only one executive went to prison. Mostly the Feds levy billions in endless fines. Money might be the best solution after all: if you make whistle blowing lucrative enough, you will make illegal activities very difficult to scale.