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How to Deter Corporate Crime Like We Mean It
Over the past few decades, the US justice system has gone from effectively punishing white-collar crimes to slapping corporations on the wrist while senior managers avoid accountability. Fortunately, there are relatively simple ways to give resource-strapped prosecutors the tools they need to uphold the law.
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NEW YORK – Most people are familiar with the much-quoted statistic that not a single high-ranking executive at a Wall Street firm went to prison following the 2008 financial meltdown. But things were not always that way. Just a few years earlier, the CEOs of Enron, WorldCom, and a number of other public corporations went to prison for lengthy terms following an earlier stock-market bubble. Hundreds of executives were similarly jailed during the savings and loan collapse of the 1980s.