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How to Deter Corporate Crime Like We Mean It — John C. Coffee, Jr.

Summary:
Over the past few decades, the US justice system has gone from effectively punishing white-collar crimes to slapping corporations on the wrist while senior managers avoid accountability. Fortunately, there are relatively simple ways to give resource-strapped prosecutors the tools they need to uphold the law.Crime is essentially rent-seeking. It leads to economic inefficiency (waste) and skews market-based distribution, in addition to being unethical, immoral and illegal, hence, socially damaging.Project Syndicate (may require subscribing)How to Deter Corporate Crime Like We Mean ItJohn C. Coffee, Jr. | Professor of Law and Director of the Center on Corporate Governance at the Columbia Law School

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Over the past few decades, the US justice system has gone from effectively punishing white-collar crimes to slapping corporations on the wrist while senior managers avoid accountability. Fortunately, there are relatively simple ways to give resource-strapped prosecutors the tools they need to uphold the law.
Crime is essentially rent-seeking. It leads to economic inefficiency (waste) and skews market-based distribution, in addition to being unethical, immoral and illegal, hence, socially damaging.

Project Syndicate (may require subscribing)
How to Deter Corporate Crime Like We Mean It
John C. Coffee, Jr. | Professor of Law and Director of the Center on Corporate Governance at the Columbia Law School
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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