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612-822-4611
The Case for the Corporate Death Penalty: Restoring Law and Order on Wall Street

The Case for the Corporate Death Penalty: Restoring Law and Order on Wall Street

Hardcover

Investing & FinanceGeneral Law

ISBN10: 1479881570
ISBN13: 9781479881574
Publisher: New York Univ Pr
Published: Jan 31 2017
Pages: 288
Weight: 1.20
Height: 1.00 Width: 6.40 Depth: 9.25
Language: English

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.


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