Todays Rant: White Collar Theft and Punishment.. Here is a good one making the circuits right now.. The idea that they want to LOWER the penalty for people who are guilty of white-collar crimes.. They want to weigh each offense by the amount stolen, the reason for it, the effects on people, etc.. Frankly, I want to see them INCREASE white-collar crime for embezzlement, fraud, insider trading and the lot.. why? Lets consider two scenarios.. 1.. A guy robs a store with a gun.. he get a few dollars, but he has ended up stealing from the owner of the store, and terrorizing the people in the store.. Generally, only a few people are directly affected by this sort of crime.. the criminal and the direct victims. . 2. White Collar Crimes.. Generally, fraud, embezzlement, insider-trading and the like.. when these people walk off with money, they do so with millions and sometimes, Hundreds of millions.. They defraud, or can defraud thousands of people, and bankrupt many out of their life savings.. This is not a small crime folks. Someone that is getting ready to retire, and their nest-egg disappears overnight and they are left with nothing, will see a retirement that they didnt expect.. Totally life changing experience here.. No, the punishment should match the effect on society.. When white-collar crime occurs, it generally makes many, many people who are innocent, pay.. This is NOT justice.. it shouldnt even be considered.. again, if anything, I want to see the laws for such crimes INCREASED, and anyone that defrauds another out of their life savings or nest-egg, needs to go to jail for many, many..many years.. 30 or more.. THAT is justice.. and that INCLUDES bankers and stock brokers folks..
Posted on: Tue, 19 Aug 2014 20:09:18 +0000
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