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View Diary: Open thread for night owls: A sweet deal for banksters—Too big to jail. (181 comments)

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  •  Artificial bodies (corporations) have to be (2+ / 0-)
    Recommended by:
    pelagicray, Eric Nelson

    restricted from the get go, up front. Since they can do much more damage than one person, after the fact is no good.
    Senator Warren is bringing out this point in her interrogation of the executive. The problem with banks is that they are, for the most part, chartered by states, whose supervision has been largely non-existent (the banks like it that way) and the federal agencies only get to act (terminate banks) after the assets have been "lost" through mismanagement.

    http://www.fdic.gov/...

    But, keep in mind, that it's all a virtual world.  Even the houses that were sold for too much, foreclosed and written off, are still intact and ready to be occupied by someone who needs a home. The only reason many Americans are without a shelter of their own is because they don't have enough money to purchase and keep one up. And the reason they don't have enough money, I would submit, is because Congress has effectively been rationing the currency for decades. That's what accounts for the economy being sluggish and crashing periodically.

    We organize governments to deliver services and prevent abuse.

    by hannah on Fri Mar 08, 2013 at 02:15:57 AM PST

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    •  Interesting the death penalty for people still (2+ / 0-)
      Recommended by:
      hannah, Eric Nelson

      exists in the U.S. while the death penalty for corporations is almost never exercised, even when they cause death and disaster.

      I am all for the corporate death penalty on a federal level. If anywher this is a place where the deterrent example would have an effect. A few good examples of corporate death with the "body" liquidated or re-inhabited by responsible owners would likely go far toward encouraging more responsible direction of all corporations by management, boards and shareholders.

      The only foes that threaten America are the enemies at home, and those are ignorance, superstition, and incompetence. [Elbert Hubbard]

      by pelagicray on Fri Mar 08, 2013 at 03:43:26 AM PST

      [ Parent ]

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