Lifting the crime cloak of the corporation

Crimes have boomed under the cloak of corporations. The less accountable individuals are allowed to be for their actions, the more corrupt and perverse the incentives. Even in named corporations, no admission or finding of crime should be allowed without attaching to the directing individuals within.

Companies are artificial entities created to allow real people to do business. But, unfortunately, there are some types of companies that aren’t engaged in any business at all. Instead, these anonymous companies exist mainly to disguise people doing things they’d rather not have the public know about. Global Witness explains how anonymous companies are used to cover up crime and corruption.  Here is a direct video link.

Effective deterrence of white collar crime requires a tough line on penalty. Not cost of doing business fines that allow one to profit and continue, but more like this: Ex-Deutsche bank broker gets record sentence for insider trading.

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