Bair: “sue individual wrongdoers, take their money, put them in jail”

Sheila Bair, former chair of the FDIC, offers her own perspective on the civil suit by the New York attorney general against JPMorgan. Here is a direct link.

There is no greater deterrent to fraudulent, reckless behavior than individual prosecution and liability. Where culprits are allowed to hide behind their corporations, fines will always be seen as a cost of doing business.

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