SIROTA: What if we executed Wall Street execs for economic homocide?

[yurbud]

Sirota describes a conversation with Matt Taibbi about how ''getting tough on crime'' invariably focuses on the crimes of the poor and deranged not those who intentionally do damage on a national and even global scale.

While he admits the prospect of real punishment touching these economic serial killers is laughably unlikely, it's a reminder of how rarely the punishment fits the crimes of these parasites, how even more rarely they are held accountable at all, and how the guiding principle of our criminal laws seems to be ''first do no harm--to the wealthy.''

But what about crimes of economic homicide? These are the opposite of crimes of passion. When, say, a speculator securitizes bad mortgages and peddles them to pension funds as safe investments, that fraud involves exactly the kind of calculation that might be deterred via the prospect of harsh punishment.

“What if a bank CEO was given life without parole?” I asked Taibbi. “What if instead of country club jail, one of these guys was shown experiencing prison like a regular convict? That would have to stop some of the worst stuff, right?”

“Right, and go a step further,” Taibbi countered. “How about putting a few of them in the electric chair? Are you telling me Goldman Sachs execs aren't then going to change?”

***

The necessity of such a criminal justice shift should be obvious. With financial fraud now so sophisticated and pervasive, we clearly need zero-tolerance solutions to change Wall Street's culture. Indeed, without true shock-and-awe deterrence, most regulatory reform will likely be an ineffectual thumb in the economic dike — just as the thieves desire.

http://www.summitdaily.com/article/20101122/COLUMNS/101129977/1078&ParentProfile=1055

[rfranklin]

1. Homocide or heterocide...either way they should be shot!

Without discrimination.

[yurbud]

2. or biocide (some swing both ways)

[shraby]

3. Anything that leaves them still in charge of their operation is

begging for them to find work-arounds to any regulations intended to stop the crimes. Put the dammm criminals where they belong. Behind bars in a federal prison with the general population for not less than 20 years to life is the solution. They stole many people lives (homes, employment, savings, retirement, health) with their schemes.

[yurbud]

4. and strip them of every penny of their assets like we do with property seizures of drug dealers

[The Backlash Cometh]

5. "about how ''getting tough on crime'' invariably focuses on the crimes of the poor and deranged not

those who intentionally do damage on a national and even global scale."

Yes, that's been my platform, for like the last twelve years!

[yurbud]

6. When Tim McVeigh was on trial, all but the most die hard anti-death penalty advocates said

he had to be executed because he harmed HUNDREDS of people.

There is no question that recent Wall Street schemes have harmed hundreds of MILLIONS of Americans, and neoliberal policies worldwide have led to less spending on essentials like education and health care, lower standards of living, and even suicides of farmers who can no longer grow crops profitably because we dump our surplus on their market.

That's BILLIONS harmed.

[RainDog]

7. I don't support the death penalty, but twenty years w/o parole would do it for me.

deleted.

but I am sick of the unequal justice in this nation.

people found with simple possession of cannabis are given harsher sentences than people who destroy an entire economy with their ponzi scheme financial b.s.

[truedelphi]

10. Ain't it the truth. n/t

[Sherman A1]

8. Shoot a few of them and I suspect the remainder will

learn to behave.

It would "encourage" them to do so......

[yurbud]

12. I've always said, the one thing we should outsource to China is punishing

White collar (which doesn't sound extreme enough) crimes.

They'd put a bullet in the back of their heads then charge their family for it.

[Joanne98]

9. YAY

[Zoeisright]

11. I think that all corporate execs should be eligible for the death penalty.

If, for example, their products kill others. After all, that's what being a "PERSON" is all about.

[yurbud]

15. since they are a collective sort of person, I'd throw in the board of directors and

major shareholders too.

So instead of the electric chair it would be more like a bus.

[bemildred]

13. Well, I think the idea of "economic violence" could be put into law with good effect.

There is no reason to settle for civil tort law where the merits of the case go beyond that. Starvation, denial of medical care, denial of housing, etc. could be considered.

[bemildred]

14. And lets not leave out "economic terrorism" either. nt