.. jail is the only thing that will put a stop to the fraud. Gamblers are not afraid of going broke, that is what makes them gamblers. Jail is scary though.

And really, that tired idea that we can't prosecute these crimes because they are too complicated, utter bullshit. We prosecute these crimes against citizens all the time, just not against banksters.

...that they become ever more inventive in finding ways to game the system. Jail time should not be 'taken off the table', so to speak, but heavy fines, I think, are a better way to reform the system.

So if someone robs a bank, we shouldn't send him or her to jail because it will make bank robbers smarter?

If it doesn't apply to the bank robber, it really can't apply to the robbing bank.

...for a number of years? Or for life?

If you don't like a corporation, you have to change the shareholders either with new shareholders or by changing their methods.
Matter little who the CEO is if the shareholders like the job that is done

remember, a corporation is beholden to the shareholders
NOT the public

there is a difference

knowing it makes life easier.

It's like Ebay. Ebay is publicly owned by shareholders and the shareholders want the company to reap profits.
The buyers and sellers on ebay's auctions have no power or influence, unless they are shareholders in great number.
The choice is they can leave.

Exacting revenge gets rid of one person, and hopefully inspires the shareholders to change.

But I never met a shareholder (whether rich or poor, as many poor or middle class own stock and don't even know it, and they too thrive on business going up.

The goal is to not cheat.
Take Bicycle racing.
Lance Armstrong cheats and others to be Lance cheat.
However, you need one person not to cheat and inspire others not to cheat and that they can win without cheating.
Tossing Lance in jail is a great idea, as is bankrupting him.
But unless you stop the others from cheating, the problem is only 1/2 solved.

Or becoming poor people in jail.

That works for me. Senator Warren is exactly right. If other people have to go to jail for their crimes, so should Wall Street criminals.

Jail is exactly the correct approach. Concerned about who to put in jail? Start at the top: HMFIC.

Just because you are a banker in a position to manipulate markets, doesn't mean that's a good idea. These kings drive bets against the market resulting in the middle class into insolvency, it doesn't mean that what you do as a banker doesn't effect people's well beings... their lives. Its has and it still does.

Don't you realize that the kind of manipulation that has been unregulated results in the kind of financial terrorism that wipes out whole populations of citizens who try to live by the only set of rules for them in their neighborhood? What kind of social Darwinism do you call that?

Permanent loss of housing markets, leveraged gambling that the middle class and working poor pay for.. this is an example of putting people out on the street and killing off whole populations. It kills generations with far reaching long term effects. It feeds the "war on drugs"... It feeds the gun industry.

You don't play with whole populations like that and have a sliding scale penalty fee adjusted. Criminals like that are the worst kind because of the power they have to convince others it's fine to adjust your penalty fee!

These guys should be perp walked, and put away for a long time. Maybe they should know what it's like to have a daily dose of abuse themselves up their shfing-shfing.

Then people would think twice before going to work for organized crime.

and that's because he screw over wealthy people so they made him pay.

It really pisses me off.

I really think it has to be both heavy personal fines and corporate fines AND jail time.
Even 2 years away from their wives and kids would mess up a lot of them.

Jail AND fines. Multitasking!

The amount of money that Bernie Madoff stole in his Ponzi scheme looked amateurish compare to Goldman Sachs and others. The evidence against him was overwhelming. In addition, Madoff received money from "black" sources, some suspect Russian organized crime. Being in prison right now actually gives him a certain degree of protection.

And don't forget Jeff Schilling, he tried to take his appeal all the way to the USSC.

Punishment for big financial crimes has to have to parts. THose that have committed the crimes should do hard time. Second, the fines imposed have to be nothing short of draconian. The specter of a company getting hit with a huge fine that could take a big part of its profits must hang over that company all the time, for it will be the only thing that actually prevents illegal behavior.

I'm sure he'd rather have not gone to jail.

They were given immunity. So I can understand not jailing those people.

However, the people who ordered the robosigning should've had to go to jail and pay huge fines. This may have been about 5k people.