Corporate settlements in the United States: The criminalisation of American business | The Economist

Corruption Perceptions Index 2006

Corruption Perceptions Index 2006 (Photo credit: Wikipedia)

This is an excellent, timely and controversial lead article from the Economist. Check it out!

via Corporate settlements in the United States: The criminalisation of American business | The Economist.

Personally, I struggle that the Economist is trying to defend big business from wrong-doing. The power of big-business is enormous. Big-business typically do not pay their share of taxes like ordinary folks. Greed drives big business. Big business does not want Keynesian economic stimulus  – they’re alright – the working classes and middle classes can bury themselves.

Yes, the regulatory authorities have enormous power and they are securing eye-watering fines. Fear is a deterrent. Bring it on!

I do not believe that the answer is to curtail the regulatory powers. Perhaps, the answer is a special oversight committee of the regulators?

Once again, we are back to strategy. Governments and political parties, must have a clear strategy in dealing with big business. See my blog entitled Abuse of Strategy and John Gelmini’s excellent response which I reblogged.

Thoughts?

No Joy on Wall Street as Biggest Banks Earn $63 Billion – Bloomberg

 

Bottom of Wall Street from FDR

Bottom of Wall Street from FDR (Photo credit: SheepGuardingLlama)

 

This is an interesting story reported by Bloomburg. Check it out!

 

No Joy on Wall Street as Biggest Banks Earn $63 Billion – Bloomberg.

 

It’s hard to understand why the banks are doing so well whilst the rest of society is still suffering from their errors.

 

Any thoughts?

 

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