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In China, the rich and powerful can hire body doubles to do their prison time

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Re: In China, the rich and powerful can hire body doubles to do their prison time

#21

Post by philwelch »

rprasad wrote: post #12
ck2 wrote: post #5

In the USA they just buy the way out of the system - I mean look at all the people in prison for the default swaps and banking scandals. Oh wait, there aren't any.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

That's not enough! There's a recession, so the rich must be punished for it, due process or not! /sarcasm

Re: In China, the rich and powerful can hire body doubles to do their prison time

#22

Post by maximveksler »

ryanwaggoner wrote: post #16
ck2 wrote: post #5

In the USA they just buy the way out of the system - I mean look at all the people in prison for the default swaps and banking scandals. Oh wait, there aren't any.

I saw this story on Reddit yesterday. Really disappointed to see it here today, and even more disappointed to see such a cynical, shallow comment at the top of the page here, just as on Reddit.

Leaving the type of response this submit is getting, which is subjective to your POV. Are you disappointed simply because this was posted to HN ?

Re: In China, the rich and powerful can hire body doubles to do their prison time

#23

Post by cperciva »

rprasad wrote: post #12
ck2 wrote: post #5

In the USA they just buy the way out of the system - I mean look at all the people in prison for the default swaps and banking scandals. Oh wait, there aren't any.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

the only crime in the U.S. system for which "recklessness" is relevant is manslaughter/murder.

Hmm, isn't there a specific offense of "reckless endangerment of a child"?

Re: In China, the rich and powerful can hire body doubles to do their prison time

#25

Post by [deleted] »

rprasad wrote: post #12
ck2 wrote: post #5

In the USA they just buy the way out of the system - I mean look at all the people in prison for the default swaps and banking scandals. Oh wait, there aren't any.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

[deleted]

Re: In China, the rich and powerful can hire body doubles to do their prison time

#26

Post by sehugg »

rprasad wrote: post #12
ck2 wrote: post #5

In the USA they just buy the way out of the system - I mean look at all the people in prison for the default swaps and banking scandals. Oh wait, there aren't any.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

Here's a low-level Countrywide loan officer that got 15 years in prison: http://www.fbi.gov/phoenix/press-releases/2012/former-countr...

Here's the ex-CEO of Countrywide getting his criminal investigation dropped after settling with the SEC for $67.5 million: http://dealbook.nytimes.com/2011/02/19/criminal-investigatio...

I'm seeing a pattern here.

Re: In China, the rich and powerful can hire body doubles to do their prison time

#28

Post by tome »

sehugg wrote: post #26
rprasad wrote: post #12

Earlier quoted context omitted.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

Here's a low-level Countrywide loan officer that got 15 years in prison: http://www.fbi.gov/phoenix/press-releases/2012/former-countr... Here's the ex-CEO of Countrywide getting his criminal investigation dropped after settling with the SEC for $67.5 million: http://dealbook.nytimes.com/2011/02/19/criminal-investigatio... I'm seeing a pattern here.

You're seeing a pattern in two datapoints?

Re: In China, the rich and powerful can hire body doubles to do their prison time

#29

Post by tedunangst »

sehugg wrote: post #26
rprasad wrote: post #12

Earlier quoted context omitted.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

Here's a low-level Countrywide loan officer that got 15 years in prison: http://www.fbi.gov/phoenix/press-releases/2012/former-countr... Here's the ex-CEO of Countrywide getting his criminal investigation dropped after settling with the SEC for $67.5 million: http://dealbook.nytimes.com/2011/02/19/criminal-investigatio... I'm seeing a pattern here.

Does Bernie Madoff's sentence lie on or off the line connecting your two datapoints?

Re: In China, the rich and powerful can hire body doubles to do their prison time

#30

Post by anonymoushn »

rprasad wrote: post #12
ck2 wrote: post #5

In the USA they just buy the way out of the system - I mean look at all the people in prison for the default swaps and banking scandals. Oh wait, there aren't any.

That is because prison is not the punishment for most of those offenses. Before you say shit about the U.S. judicial system, you should learn something about it. SEC and FTC violations are civil offenses . The punishment for civil offenses are fines . Plenty of firms and higher-ups have paid fines. Jail time only applies in cases where deliberate fraud is proven to have occurred. We all know that the finance guys wer…

Wells Fargo admits to 55,000 counts of perjury: http://www.reuters.com/article/2010/10/28/us-usa-foreclosure...
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