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There needs to be a new federal law against things that "Negativity Impact the American People" with very strict penalties. So just like someone can break a state or local law and then federal prosecutors can also come in and charge them for a federal crime.
Would cover this, the banks and wall Street for 2009, J&J asbestos in talc powder, opioid epidemic, etc.
Sure those laws end in fines or class action lawsuits less then the profit made. But now the people in charge that knew what they were doing get a federal prison sentence. Golden parachute right into 10 years behind bars.
They need to start actually jailing executives who are clearly culpable for this shit. Like real jail sentences. Fines mean nothing to these companies.
Jail won't do anything. You have to hit them where it hurts. We need to make criminal behavior cost them personally.
Minimum fine = 100% of all gross revenue generated from the illegal activity. This fine will be paid out of personal assets of the guilty executives first, then sezuire of stocks as assets of the board of directors and major stockholders. If this equals the governments owning a controlling interest in the company, then it is converted to an employee owned entity.
Nah if you start sticking these dudes in prison for 10 years when they're already in their 50s-60s, it's going to make a dent. That's a solid 30-50+% of the rest of their lives.
Doubt it. There will always be a new slew of psychopaths to fill in. Plus punishment has never been a good deterrent. Even less so for these types if people.
You really want to stop it you need to start holding shareholders accountable. They're the source of the problem.
Punishment is a deterrent when people know there's a good chance of getting caught. What isn't a deterrent is very harsh penalties for crimes people expect to get away with.
Not according to basically every study done ever. People don't think they're going to be caught. In fact it rarely even comes into their thinking. Plain and simple. More so than that I guarantee you the kind of people that become CEOs certainly never think they're going to be caught. These people think they're above the laws and rules already. 100% guarantee you the threat of punishment would not stop a CEO from committing a single crime.
Do you avoid parking illegally? Do you drive at some approximation of the speed limit when you know you could safely go much faster? Do you always pay for things at stores run by big greedy corporations? Do you pay your taxes?
I do all of those things. Not a single freaking one because I'm worried about punishment. I think it's odd to suggest that the only reason you do what's right is because you're scared of punishment I find that a very disturbing mindset.
You're essentially making that old Christian argument right here. That people that don't follow the Bible and Christianity can't have any morals. They say that if you're not scared of damnation what would stop you from raping people or murdering people. Which is always been a horrifying thing to hear because it suggests these people would love to be raping and murdering people if it wasn't for a shadowy sky figure saying no. That's the argument you have aligned yourself with. Now if you have no problem with that fine, but I would hope any rational person would see the problem with that argument.
It's not the same argument because I'm not saying I'd do things I consider unethical. I'm saying I'd do a lot of things that are illegal but not unethical if I wasn't worried about getting caught.
And that's a you problem.
You don't think taking away years of their lives would be hitting them where it hurts?