July 8, 2015

Question of the Week: Have Heavy Penalties Deterred Big Banks From Committing Financial Crimes?

By the C|C Whistleblower Lawyer Team

Question of the Week-Financial CrimesFormer Attorney General Eric Holder famously said some banks were too big to jail.  He recently reiterated that government prosecutors under his reign were correct in their enforcement approach of leveling “record-setting penalties” against financial institutions rather than “trying to make examples of people” by throwing them in jail.  He claims that the nature of the eye-popping penalties that he extracted from these banks changed bank culture for the better without the need to jail the individual executives at the helm. 

Do you agree that the heavy penalties levied against the financial institutions have done enough to deter banks from continuing to behave badly?

    Please let us know why in the comment section below.

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    One Response to “Question of the Week: Have Heavy Penalties Deterred Big Banks From Committing Financial Crimes?

    1. Financial penalties are just a cost of doing business. Only the threat of jail time is going to really change how Wall Street behaves.