Thursday, Sep 10, 2009
Jail terms would change behaviour
Ft: More prison sentences may renew financial credibility
How many financiers do you think ended up in jail after America's Savings and Loan scandals? The answer can be found in a fascinating old report from the United States Department of Justice*.
If there is no retribution against financiers, it will be difficult to force a real change in behaviour. After all, no amount of twiddling with Basel rules or pious statements about bonuses will ever scare a financier as much as the thought of jail.
Posted by mken @ 11:00 AM (286 views) Add Comment
1 Comment
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1. mountain goat said...
Glad this is at least being discussed. A prison sentence is better than being lynched in the street by an angry mob.