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May 04, 2010


Multiple parties

Actually, the better question is, should conviction of a serious crime be cause to put the guilty corportion into runoff mode and disolve it.


We have plenty of criminal statutes on the books oriented towards policing Wall Street and other investment crime or fraud situations. Enacting more criminal statutes will not solve the problem when the regulations and statutes we already have are only haphazardly enforced. The more complex the criminal scheme the more difficult it is for law enforcement agencies to effectively investigate, uncover, and successfully prosecute. Nowhere is this more true than the investigation of investment fraud schemes and questionable financial and accounting practices. More enforcement resources with aggressive attitudes and armed with more extensive training and better knowledge of complex financial and business transactions is what is needed. Not more laws.
Criminal statutes carrying imprisonment as punishment should address well-defined, easily identifiable misconduct, such as knowing or grossly reckless and misleading material misrepresentations, omissions or practices. We have criminal statutes for those types of violations already. What we need is the aggressive application of investigative and prosecutorial resources [including adequate funding] coupled with intelligent and knowledgeable direction.
Enacting more laws just makes the politicians look like they are addressing the problems without spending a dime to really correct them.


as a retired white collar guy, I have an aversion to white collar crime. Never? well...hardly ever, as the song goes. Egregious, over-the top behavior seems to suggest jail time- and/or felony charges with loss of voting rights.

But, egregious, like beauty, is in the eye of the beholder.

I punt.

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