Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.
Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.
I break the law, I go to jail. A corporation breaks the law they get a fine the equivalent of a parking ticket.
If corporations want to be people it’s time we start treating them like people. CEOs and Execs in prison. Actual fines that hurt the bottom line. And for the really egregious: shut them down, or if they’re “too big to fail” we can let the government take over or break them up into dozens of small companies ex: Baby Bells
You can’t compare worth with income. A better comparison might be profits, which were $15B for past 12 months. So Wells Fargo’s penalty is 1.3% of their “salary.” Even if you go by revenue, it’s greater than your parking ticket example. I get that they are an evil corporation, but accuracy matters.
Never profits, always revenue. Profits can be gobbled up by some internal bonus or "future investment in a project", thus making it $0. Revenue is all the money generated before allocations and expenses come out. Much harder to weasle out of.
The whole point of a limited company is that its owners are protected against failures of the company. A lot of things will go sideways if this protection gets removed.
I'm genuinely ignorant, but is the owner's protection against the company failing due to standard bad luck/mismanagement/cursed frogurt, the company doing blatantly illegal things under their direction, or both?
Companies in prison. Unable to operate for whatever length their sentence is. When they come out, they will forever be considered a felon and will not be able to do business with most other companies.
Of you put CEOs and Execs in prison then you are not treating corporations like people. If you do something illegal then they put you in prison. Not your CEO or Execs.