US sues Bank of America for $1 billion

[erictheblue]

If you bothered to read what I cited, it says that they're actually being prosecuted in Iceland, I don't think anyone here is for just throwing them in jail for shits & giggles.

You also said we should prosecute them. That requires that they actually committed a crime. Right now, we don't know for sure that they did commit crimes. People are throwing around the word "fraud," but there are specific standards for criminal fraud, and regulations can be written to allow actions that appear to be fraud-like to actually be legal. (I don't know banking law, so don't feel comfortable digging deeper into the issue.)

In order for something to be an actual crime, there has to be a statute (passed by Congress and signed by the President) making the action a crime. We all know the banks pay millions of dollars to political campaigns. I, personally, find it hard to believe that criminal statutes would be written in such a way that politicians would put the people paying them in prison. I also know that the banks pay teams of lawyers to study the laws and make sure that the bank's actions stay just on the "legal" side of the fence.

That's why I keep saying I am not sure we can prosecute many (if any) of the bank executives. They aren't stupid. They can do something the legal way and still make billions.

[TheL]

One billion? Not one thousand billion? Or a gazillion? Nope, only one billion dollars of harm done- at maximum. Yeah, this is just cover up by other means.

Also guess how many will go to jail. Or how many execs will personally face the consequences.

This is what pisses me off about the whole Citizens United thing.  If corporations are people, then the CEO (arguably the seat of the corporation's "personhood") should be able to go to jail for corporate corruption of this magnitude.  This shit won't stop until some suits end up doing hard time.

[Lt. Fred]

One billion? Not one thousand billion? Or a gazillion? Nope, only one billion dollars of harm done- at maximum. Yeah, this is just cover up by other means.

Also guess how many will go to jail. Or how many execs will personally face the consequences.

This is what pisses me off about the whole Citizens United thing.  If corporations are people, then the CEO (arguably the seat of the corporation's "personhood") should be able to go to jail for corporate corruption of this magnitude.  This shit won't stop until some suits end up doing hard time.

It'd be nice if the corporate person could be sent to prison somehow. An immortal being with rights but no responsibilities is scary, methinks.

[Material Defender]

One billion? Not one thousand billion? Or a gazillion? Nope, only one billion dollars of harm done- at maximum. Yeah, this is just cover up by other means.

Also guess how many will go to jail. Or how many execs will personally face the consequences.

This is what pisses me off about the whole Citizens United thing.  If corporations are people, then the CEO (arguably the seat of the corporation's "personhood") should be able to go to jail for corporate corruption of this magnitude.  This shit won't stop until some suits end up doing hard time.

It'd be nice if the corporate person could be sent to prison somehow. An immortal being with rights but no responsibilities is scary, methinks.

It has some responsibilities. As in you can tax a corporation and it's executives separately. So tax burden is different. But the full weight of its responsibilities has never been adequately determined.

[Lt. Fred]

For instance, if a corporation kills someone, can it be executed?

[Cerim Treascair]

For instance, if a corporation kills someone, can it be executed?

If that's the case, we'd better start with every manufacturer of alcohol and anything that can be smoked, as well as anything medicinal (since, yes, it's possible to overdose on things like cough syrup)

[Stormwarden]

Hell, let's not forget the fast food companies. After all, they knowingly distribute food that can kill. That would get Citizens United overturned in a hurry, I bet.

[Askold]

Well the if the death is caused by accidental/purposeful overdose then it is not a murder. Not even a manslaughter unless the instructions were really poor and misleading or something.

Let's really start thinking about this:

-If a company sells a gun and someone uses it in a murder does that make the company accessory to murder?
 *How can a company prove that they thought it was ok to sell the gun? (at least in countries that require a permit there is some official who needs to judge each case,)

-What if a kitchen knife or draincleaner had been used in a murder? Do the companies have to start worrying about everything that can be used to harm someone?

-I could see a lot of insurance companies getting sued over cases where they denied insurance.


There are cases where it can be proven that a corporation has caused the death of someone (Usually due to poor safety regulations or bad instructions etc.)  but I think that cases that would count as "murder" would be rare. This certainly does not mean that it doesn't happen or that they shouldn't be prosecuted for it.

[Damen]

Well the if the death is caused by accidental/purposeful overdose then it is not a murder. Not even a manslaughter unless the instructions were really poor and misleading or something.

Let's really start thinking about this:

-If a company sells a gun and someone uses it in a murder does that make the company accessory to murder?
 *How can a company prove that they thought it was ok to sell the gun? (at least in countries that require a permit there is some official who needs to judge each case,)

-What if a kitchen knife or draincleaner had been used in a murder? Do the companies have to start worrying about everything that can be used to harm someone?

-I could see a lot of insurance companies getting sued over cases where they denied insurance.


There are cases where it can be proven that a corporation has caused the death of someone (Usually due to poor safety regulations or bad instructions etc.)  but I think that cases that would count as "murder" would be rare. This certainly does not mean that it doesn't happen or that they shouldn't be prosecuted for it.

Well, according to Kelley v R.G. Industries, manufacturers of "Saturday Night Specials" can, in fact, be held liable for criminal acts committed with with their weapons.

[Lt. Fred]

What happens if a corporation hires someone to murder an industrial opponent and then they do that?