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Do you really want there to be a law on the books which means people can be prosecuted for making bad decisions, decisions which the people making them thought
by ig1 13y ago
Do you really want there to be a law on the books which means people can be prosecuted for making bad decisions, decisions which the people making them thought were perfectly reasonable and legal at the time ?
The reason that CEOs haven't been prosecuted is that it's not clear there's any basis for which there to be a prosecution. There's no law criminalizing CEOs from making bad decisions, and it'd be incredibly stupid for there to be one.
- gaius 13y agoThat is the crux of the matter. Before it all fell apart, Fred Goodwin for example was universally regarded as a shrewd and savvy businessman who transformed RBS from a sleepy regional bank into a global powerhouse. He was a titan of business like Jack Welch or Richard Branston.
- danielweber 13y agoEveryone loved the housing bubble. The bankers made the most off of it, but the rest of the mob went along because they had convinced themselves they would get rich, too, and were pushing it along as hard as they could. I still occasionally encounter people who think the problem with the housing bubble wasn't that it ever existed, but that it ended.
- dingaling 13y ago> Everyone loved the housing bubble. Well, everyone other than people just trying to buy a house for their family. A house in which to live, not to flip-off in ten years time.
- arethuza 13y agoAs were the management of Enron, or Bernard Madoff, or Robert Maxwell....