2 ms·

Banks have proven time and time again that fines are not going to stop them from doing illegal activity. If you throw a few execs in jail, well, people will st

by jaynos 13y ago

Banks have proven time and time again that fines are not going to stop them from doing illegal activity. If you throw a few execs in jail, well, people will start to think more about their future actions. The current system of bonuses for performance and minimal chance of a US investigation that leads to a fine, at most, encourage illegal/shady behavior. Throw in the risk of jail time and people will think twice before doing anything might be illegal. You'd also get a lot more whistleblowers trying to cover their asses.

volume 13y ago
Ya, I just am not familiar enough with the issue to know if 1.92 billion was appropriate or not relative to the damage of any other wide scale settlement. How about the $200 billion tobacco settlement as a baseline? Were HSBC's damages 1% what was settled in the tobacco case in 1998? Disclaimer: I'm an outsider to the legal profession, so pardon me if it's a silly comparison.