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October 01, 2008

Add tools to tackle fraud

In dealing with financial fraud, the courts need more tools in their tool box.

First, create a national registry with offenders’ names and locations, similar to registries for sexual predators.

Second, require lifetime community service to teach them humility and respect for others and themselves.

Third, bar them from any connection with the financial world.

Hopefully, while in custody they’ll learn how to earn the salt that goes into their daily bread honestly, and that they must earn wealth the age-old way: by hard, honest work.

Bill Mace
Overland Park

Comments

Stifled Freedom

But they got those massage parlors shutdown. THOSE people were exploiting....oh but wait no force was used. I guess only the Wall Street barons actually did any exploiting.

If the FBI and US Attorneys had been watching Wall Street and and properly overseeing the banks they insure with out treasury, the misdeeds that led to this mess might have been stopped in advance. Instead, the FBI was dumpster diving for condom wrappers.

Rogue

Isn't it amazing that Franklin Raines, Jim Johnson, Jamie Garelic, et. al. are walking around free as birds when compared to Ken Lay and Enron they ruined more lives, stole millions more taxpayer dollars and are not being prosecuted? There is now a New York Grand Jury seeking indictments against some of them. About time.

pmcw

Bill, It's much simpler than that. As the system works today, there are few tried as criminals - most actions are civil (uncivil as it sometimes is). For an executive, a monetary fine is something that can be considered as a risk to weigh against potential reward. What we need is aggressive criminal prosecution using the laws we have today and real prison terms. I would call it the "bunkin' with bubba" strategy. Threaten an executive with hard time and you'll get less white collar crime.

Engineer

That's great, Bill. But first don't we have to convict them of breaking some law?

 
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