121–130 of 324 posts
What is this construct where someone can just pay money to avoid personal accountability for crimes?
The money is literally the accountability here. You could have other forms of accountability sure: freedom, life, and so on. For several reasons, we have settled on money as the preferred form unless the responsible party has a good chance of harming others in future.
McKinsey makes something like 10 billion annually in revenue. This is a slap on the wrist. People need to be held accountable for these misdeeds.
That's more than I would have thought. What generates that? How much of it is consulting?
Let's assume 2,000 working hours per year, 80% utilization at $150/hr, and 40,000 employees (worldwide) — that's $9.6B.
https://www.trialguides.com/products/from-good-hands-to-boxi...
For years, the government and court systems have been unable to punish these private corporations. At best, give them a slap on the wrist with these fines. People are tired of this bs. It's no surprise a large majority of the public didn't give 2 shits about a nobody health insurance CEO getting gunned down in the streets but rather unified around the idea of our shitty healthcare system.
A slap on the wrist. After a half million Americans have died from a crisis they helped kickstart, they should be facing criminal charges and jail time. The rich and powerful once again are allowed to buy their freedom.
Until you have serious bonus clawbacks for every such case, it is just cost of doing business. Just increasing the fines won't do much, they will just fire more people citing costs and the market will applaud that with rising stock price.
Its complex cause you cant really find one person to blame. What no one really says is we are struggling with complexity overload. And what complicates it is all the people's wealth and status accumulation falsely signals control. When they really have less and less control the more complex the system gets. When you look at pentagon leaders and afg/iraq or Wall St CEOs and 2008 gfc or the Pope and the peado army or l…
When the big bucks go to the very top for a successful year, the penalty should also go to the very top when shit hits the fan. When the CEO/CIO/COO's bonuses are on the hook, I suspect you will suddenly see a great urgency/importance being assigned to doing things correctly and greater penalty being levied down the ranks for doing things wrongly.
These people had too much carrot, time to balance it out with some stick.
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I am so sorry to hear what happened to your Mom. This is a slap on the wrist to those who suffered and to those who loved them. How do companies like McKinsey get away with this?
> How do companies like McKinsey get away with this? Money. Any other questions?
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I still don’t think it’s enough, but let’s be clear. They are facing criminal charges and jail time. See the DOJ press release: https://www.justice.gov/opa/pr/justice-department-announces-... > Today’s resolution marks the first time a management consulting firm has been held criminally responsible for advice resulting in the commission of a crime by a client and reflects the Justice Department’s ongoing efforts to h…
If you or I killed a half a million people, we wouldn't be facing 20 years in prison. We'd be lucky to not be facing a firing squad or a noose. All I ask is that the leadership of McKinsey be treated to that same standard. Let their golden parachutes be literal.
Yeah, Martin Elling made 2 million in political donations over the years: https://www.businessinsider.com/mckinsey-company-oxycontin-d...
> During the past two decades, Elling has spread nearly $2 million among dozens of federal-level political committees, almost all Democratic. The political committees of President Joe Biden and dozens of US Senate and House candidates have benefited from Elling's contributions.
Earlier quoted context omitted.
> How do companies like McKinsey get away with this? Money. Any other questions?
Why doesnt money work for Kim Dotcom?