You're right, I was missing your point - you're, fundamentally, flaming people like Countrywide much more than you're flaming people like, say, Lehman, which I'd missed.
Except that Mr Mozilo, the relevant executive, has received the largest SEC fine ever ($67.5 Million), and been permanently barred from being an officer or board member of a public company. Which may not be the same as 'imprisoned for life,' but does seem rather a far cry from 'slap on the wrist,' nu?
Actually prosecuting the bad actors would slow that down, and cast a pall on the system as the depth and widespread nature of the misbehavior became apparent
Well, prosecuting the bad actors would cast a pall on the system as everybody who wasn't violating the law got swept up into discovery as well. There's an awful lot of baby in that bathwater.
no subject
Except that Mr Mozilo, the relevant executive, has received the largest SEC fine ever ($67.5 Million), and been permanently barred from being an officer or board member of a public company. Which may not be the same as 'imprisoned for life,' but does seem rather a far cry from 'slap on the wrist,' nu?
Actually prosecuting the bad actors would slow that down, and cast a pall on the system as the depth and widespread nature of the misbehavior became apparent
Well, prosecuting the bad actors would cast a pall on the system as everybody who wasn't violating the law got swept up into discovery as well. There's an awful lot of baby in that bathwater.