I don’t see that as a counterpoint. I think it’s reasonable that banks (and corporations, in general) are fined significantly for regulatory violations.
With regulatory capture, most regulations are weak to begin with. And if they don’t have teeth, then they’re entirely pointless.
Two years of free cashflow is a good fine for serious violations of ethics/regulations, imho. I don’t think they’re getting off lightly with that, though; it’s a significant enough fine that they’re incentivized to do better and, even better, acts as a warning shot across the entire industry.
My (counter) point was that much lesser crimes committed by an individual would have completely destroyed the life of the perpetrator and probably their family. Yet high fives all around when a corporation has to put up with a couple of years of lost growth just because a number is too big for an individual to properly comprehend.
I don’t see that as a counterpoint. I think it’s reasonable that banks (and corporations, in general) are fined significantly for regulatory violations.
With regulatory capture, most regulations are weak to begin with. And if they don’t have teeth, then they’re entirely pointless.
Two years of free cashflow is a good fine for serious violations of ethics/regulations, imho. I don’t think they’re getting off lightly with that, though; it’s a significant enough fine that they’re incentivized to do better and, even better, acts as a warning shot across the entire industry.
My (counter) point was that much lesser crimes committed by an individual would have completely destroyed the life of the perpetrator and probably their family. Yet high fives all around when a corporation has to put up with a couple of years of lost growth just because a number is too big for an individual to properly comprehend.