In practice, if you work for a large bank, commit fraud and get away with it, then you profit handsomely; if you work for a large bank, commit fraud and get caught, then the shareholders of your employer pay.
Time to End Too Big to Jail
Should an individual be able to commit fraud and not face jail time or at least serious civil consequences?
Too often we have seen multi-billion dollar fraud at large banks or investment banks, yet the individuals who engineered the fraudulent schemes are not held accountable for their actions.
Shareholders pay huge fines, but the individuals who actually commit the fraud effectively get away with it. They personally pay nothing, bear no criminal responsibility and keep working in the securities business.
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Heritage Foundation David Burton -- Bio and
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The Heritage Foundation is the nation’s most broadly supported public policy research institute, with more than 453,000 individual, foundation and corporate donors. Heritage, founded in February 1973, mission is
to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.
