The Case for the Corporate Death Penalty: Restoring Law and Order on Wall Street by Mary Kreiner Ramirez, Steven A. Ramirez
Requirements: ePUB or AZW3 Reader, 1.7MB
Overview: A critical examination of the wrongdoing underlying the 2008 financial crisis
An unprecedented breakdown in the rule of law occurred in the United States after the 2008 financial collapse. Bank of America, JPMorgan, Citigroup, Goldman Sachs, and other large banks settled securities fraud claims with the Securities and Exchange Commission for failing to disclose the risks of subprime mortgages they sold to the investing public. But a corporation cannot commit fraud except through human beings working at and managing the firm. Rather than breaking up these powerful megabanks, essentially imposing a corporate death penalty, the government simply accepted fines that essentially punished innocent shareholders instead of senior leaders at the megabanks. It allowed the real wrongdoers to walk away from criminal responsibility.
Genre: Non-Fiction, Economics, Politics
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