Greedy, Corrupt Executives? Punish the Shareholders (Huh?!?)
If you’re not persuaded by my case for jailing bankers instead of penalizing shareholders — again — for bankers’ greedy, corrupt behavior, The New Yorker’s James Surowiecki makes a very similar argument.
Here’s an excerpt:
“If you really want to punish and, perhaps more important, deter bad corporate acts, you have to penalize the individuals who committed them. Instead, at least so far, the people who made the decisions to securitize and market loans that they knew were almost certain to go bad have gone untouched.”
–James Surowiecki, “Punish the Executives, Not Just the Banks“; The New Yorker (7/15/2014).
When you’re done, compare to my post, “How Fining Banks Instead of Jailing Rogue Bankers Disserves Society“, for a slightly different take (I see the country being stuck until there’s closure on this issue).
