The government reached a settlement with Goldman Sachs of 5 Billion dollars for deceiving investors about the mortgage derivatives that caused the recession of 2008. As of today, not one person have been charged or gone to jail for the mess that almost destroyed our economic system. Do you think the punishment fit the crime? Why is the government profiting from this?
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Yes, but is fines enough to discourage this type of behavior going forward? It seems that if companies profit from these illegal activities and the government profit when they catch them with fines, what is the incentive to stop this?
Fines should be coupled with criminal charges where appropriate, and that would be in most cases. Punitive damages should be shared by their victims, and not the gov. These damages are large enough for the banks to feel the pain.
My sentiments exactly. Why do we allow this to go on and no one is held accountable both in government and in industry?
My opinion is because the loyal party voter doesn't demand their party take action to correct the problem. The financial institutions even profited from the gov lack of enforcement on their scam. The gov is subservient to corp America.
It is troubling that both parties seems to support the status quo. No matter who we elect to office, they seem to continue to do the biddings of these companies against the interest of the people.
That is why, I blame the loyal party voter, as they don't demand that their party change. All these companies finance their elections, and that of their party. Both parties are doing the same thing. This won't change until the voters change.IMHO