Economy
Related: About this forumThe Way to Stop Corporate Lawbreaking is to Prosecute the People Who Break the Law
Wednesday, June 4, 2014by Robert Reich
Today (Thursday, June 5) GM releases the results of its internal investigation about why it failed to respond to an ignition switch defect in millions of cars that has been linked to at least 13 deaths.
But whos really to blame when a big corporation breaks the law? The government thinks its the corporation itself.
Wrong.
"What GM did was break the law They failed to meet their public safety obligations, scolded Sec of Transportation Anthony Foxx a few weeks ago after imposing the largest possible penalty on the giant automaker.
Attorney General Eric Holder was even more adamant recently when he announced the guilty plea of giant bank Credit Suisse to criminal charges for aiding rich Americans avoid paying taxes. This case shows that no financial institution, no matter its size or global reach, is above the law.
http://robertreich.org/post/87845284270
Uphill Economy
Warpy
(111,245 posts)then certainly some of them deserve the death penalty. Suspend their charters, let them reorganize with a different cast of characters, cleaning house under government oversight.
That would be jail. The absolute dregs would have their charters revoked. That would be execution.
JayhawkSD
(3,163 posts)...was on its deathbed and was brought back to life by Barack Obama. Not only did we not kill it, we did not allow it to die the death it had imposed upon itself, and we used taxpayer money to give it a life it did not deserve.
Not only was it given new life, it was done in a fashion which makes it immune from lawsuit from its criminal behavior because the corporation that exists today is a different corporation than the one which existed before the bailout. Same name, but different legal entity, and not legally responsible for the actions of its predecessor.
Warpy
(111,245 posts)Apparently it wasn't given enough.They need to do more to destroy their corrupt managerial structure.
Leme
(1,092 posts)-
o wait, maybe if we just ask lawbreakers to please do not do that might work.
Kablooie
(18,625 posts)Not the people that pay for our government.
Wait, that's not quite right. WE pay for our government.
Not the people who pay for our politicians.
Demeter
(85,373 posts)As long as the obscene profits are there, the criminals will take the chance. And buy off the government in the process.
Make banking a utility, make taxes progressive especially on corporations, and put capital controls at the border so that the jobs cannot be shipped out.
Of course, it's 40 years too late for all that.