I have much doubt that criminal penalties would change anything. People would just put much more energy in avoiding them. I think that state a priori regulation is a more effective tool than state a posteriori punishment.
> "You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshit would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."
I don't see why we can't have both. But, for it to really work, you can't throw them in Country Club Resort prison. They have to go to Pound-Me-In-The-Ass prison. They need to be locked up with some really bad people. Because, let's face it, most of these white collar criminals are really bad people.
Wait, so wouldn't Country Club prison work then, since that's where all the existing imprisoned white collar criminals already are (and, per your description, they are “really bad people”.)
Not if they're all only around each other. I'm talking they need to be locked up with genpop at a medium or high security prison. With gang members and such.
