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kallend

Those wonderful bankers

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Andy9o8

***>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

More should go the way of madoff.

John, I'm slipping, sorry.

More guns! Less Laws! Smaller government! Obama sux!

Whew, that was a close one.:ph34r:
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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billvon

>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



Legal responsibility for corporate behavior rests with the officers of the corporation, not the secretaries.
...

The only sure way to survive a canopy collision is not to have one.

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Andy9o8

***>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

No, but seriously, why is it?
Remster

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>Sometimes I agree with you. The architects of these schemes should be behind bars.

Waitaminute. Didn't you say corporations are people? If so then you put the corporation behind bars.

If corporations aren't people, then you just prosecute people who break the law.

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Remster

******>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

No, but seriously, why is it?

Oh, you funny man! You want it simpler? ;) Fine!
Because everyone who is anyone is corrupt.

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Andy9o8

*********>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

No, but seriously, why is it?

Oh, you funny man! You want it simpler? ;) Fine!
Because everyone who is anyone is corrupt.

So, Amazon is corrupt?:o
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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Andy9o8

***>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

And here's another example. So now GM is going to be held criminally liable for defective ignition switches that killed over 100 people. Think any top execs will be prosecuted individually? Don't bet on it. Why? Because they're GM. You can bet that the same execs in a smaller company would be going to jail.

"Too big to fail" is only half of it. "Too big to jail" is the other half.

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Andy9o8

******>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

And here's another example. So now GM is going to be held criminally liable for defective ignition switches that killed over 100 people. Think any top execs will be prosecuted individually? Don't bet on it. Why? Because they're GM. You can bet that the same execs in a smaller company would be going to jail.

"Too big to fail" is only half of it. "Too big to jail" is the other half.

Especially since Barry bailed them out, the new and approved government motors.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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turtlespeed


Especially since Barry bailed them out, the new and approved government motors.



Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008.

Source: http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

The first inauguration of Barack Obama as the 44th President of the United States took place on Tuesday, January 20, 2009.

Source: http://en.wikipedia.org/wiki/First_inauguration_of_Barack_Obama
"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones.

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turtlespeed

*********>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

And here's another example. So now GM is going to be held criminally liable for defective ignition switches that killed over 100 people. Think any top execs will be prosecuted individually? Don't bet on it. Why? Because they're GM. You can bet that the same execs in a smaller company would be going to jail.

"Too big to fail" is only half of it. "Too big to jail" is the other half.

Especially since Barry bailed them out, the new and approved government motors.

That would be George W. "Barry" Bush, right?
...

The only sure way to survive a canopy collision is not to have one.

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kallend

************>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

And here's another example. So now GM is going to be held criminally liable for defective ignition switches that killed over 100 people. Think any top execs will be prosecuted individually? Don't bet on it. Why? Because they're GM. You can bet that the same execs in a smaller company would be going to jail.

"Too big to fail" is only half of it. "Too big to jail" is the other half.

Especially since Barry bailed them out, the new and approved government motors.

That would be George W. "Barry" Bush, right?

The capability was there, it was not implemented until Obama was in office, and not in his lame duck time either.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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So Bush passed it before Obama became president. You are losing sight of the forest for the trees; the important thing is that Obama is bad. So the "facts" weren't true in this case; there will be other, less carefully checked facts that show him to be the worst thing since New Coke.

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billvon

So Bush passed it before Obama became president. You are losing sight of the forest for the trees; the important thing is that Obama is bad. So the "facts" weren't true in this case; there will be other, less carefully checked facts that show him to be the worst thing since New Coke.



There is nothing worse than "New Coke":|

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turtlespeed

************>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

No, but seriously, why is it?

Oh, you funny man! You want it simpler? ;) Fine!
Because everyone who is anyone is corrupt.

So, Amazon is corrupt?:o

I plead guilty... but only at boogies where I have been known to be an extremely blatant corrupting influence.:)

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Amazon

***************>If corporations are people, how come no jail time for these crooks?

Because putting secretaries and accountants in jail for something they had very little part in makes no sense.



I think the query is more re: why the top corporate executives generally haven't been prosecuted individually.
The real answer is that while top corporate executives may very well face individual criminal liability either due to their own direct wrongdoing, or indirectly via the "Responsible Corporate Officer Doctrine", the top executives at the top (current and former) banking houses have enough financial resources on hand to pay civil penalties, and are sufficiently in bed with those occupying the upper echelons of government, that they effectively immunize themselves from being prosecuted. Why, for example, were Angelo Mozillo (Countrywide) or Kenneth Lewis (Bank of America) never criminally prosecuted? Well, that's why. So it's the top execs of small- and middling-sized companies that get nailed (with occasional sacrifical lambs like Madoff), while these guys walk. And so it goes.

No, but seriously, why is it?

Oh, you funny man! You want it simpler? ;) Fine!
Because everyone who is anyone is corrupt.



So, Amazon is corrupt?:o

I plead guilty... but only at boogies where I have been known to be an extremely blatant corrupting influence.:)

Little miss sweet an innocent Amazon? I'm shocked.
I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

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So FIFA OFFICIALS get arrested for corruption but bank CEOs get to walk away with their fat bonuses after corrupt dealings. Who do you think pays off the politicians?
...

The only sure way to survive a canopy collision is not to have one.

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