Posted 5 years ago on May 25, 2012, 10:56 p.m. EST by JoeTheFarmer
This content is user submitted and not an official statement
The problem as I see it is that regulations need to target individuals and they do not. Regulations that go after the "corporation" really do nothing. When we target the corporations with fines rather than the individuals that broke the rules we punish the shareholders many of whom are workers with pension funds as well as the regular employees at these companies. There are a lot of ordinary hard working people at these companies.
When someone at JP Morgan, Goldman Sachs, or BOA breaks the rules or deceives investors we need to go after the individuals. Going after the "corporation" just hurts the people who trusted these corporations with their money. Meanwhile the guys who broke the rules get a nice salary and bonus to boot. They are free to repeat their risky or even deceitful behavior with no fear of retribution.
Regulations need to target individuals or the process will just continue.
We need to go after the individuals not the corporations.