It doesn’t stop them from continuing to abuse the system. Confiscate the patents. Legislate property/land as a liability – rather than the replacement for gold and silver.
Admitting a problem, as the cliché has it, is the first step to solving it. But with the Justice Department and the Securities and Exchange Commission, admissions of wrongdoing have been the last step. There’s much work to be done to hold giant corporations accountable for their misdeeds.
Over the last few years, the Justice Department and the S.E.C. have been assailed for delivering lashings to corporate malefactors that resemble a fanning with palm fronds. In response, the Justice Department and the S.E.C. would like us to think that they received the message and got tough. This summer, the Justice Department forced Credit Suisse and BNP Paribas to plead guilty to crimes. In some of its recent settlements, the S.E.C. has been requiring individuals and corporations admit that they did something wrong.
Such public statements of contrition have some degree of usefulness. It’s almost ridiculous that we consider it progress…
View original post 155 more words