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The fine given to Goldman-Sachs is only worth 2 weeks of their profit!

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freespeechtv Donating Member (27 posts) Send PM | Profile | Ignore Fri Jul-16-10 04:24 PM
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The fine given to Goldman-Sachs is only worth 2 weeks of their profit!
What kind of consequence is that! According to the math our friend Marian Wang did at ProPublica, there is no way $550 million will be an effective deterrent for more bad corporate behavior by G-S or any other multi-national corporation. Change the "m" in "million" to a "b" and we might be getting closer. Since corporations are people now, thanks to Citizens United, perhaps the CEO and board should be locked up a county jail!

For the rest of the outrageous math, read Wang's article here:
http://www.freespeech.org/blog/goldman%E2%80%99s-sec-settlement-numbers-we-do-math
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leveymg Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-16-10 04:28 PM
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1. The only deterrence value is to deter real enforcement and personal accountability.
Same as it's ever been . . . justice is just another service industry in this country.
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