Wednesday, August 20, 2014

Prison not fines

I have often said that free market capitalism is the type of government that develops the largest middle class and I have further stated that corruption is the enemy of this form of government. Today Bank of America agreed to pay 16 billion dollars in fines for their dishonest activities in the recent home mortgage scandal. This bank has assets of 2,200 billion and this fine is just a slap on the wrist and will not deter illegal activities. In order to keep corruption at a minimum the penalties for illegal actions must be prison. Only when these people understand they will go to jail will they change their thinking. In addition there must be severe penalties for government employees assigned to oversee these activities who fail because of negligence

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