Regulation wasn't about putting people in jail: it was about requirements for stock listings and access to federal money. That's a far more significant deterre

Regulation wasn't about putting people in jail: it was about requirements for stock listings and access to federal money. That's a far more significant deterrent when all the company cares about is cash. Regulations worked: it was when we unravelled existing regulation that things went belly up in almost exactly the same way they had gone belly-up the time before, inspiring the regulation in the first place. Cause-and-effect are a bitch sometimes.