When the U.S. Securities and Exchange Commission settles misconduct cases, as it recently did with Bank of America and General Electric for allegedly misinforming investors, the fine is taken from company money that belongs to the shareholder victims, instead of from the individual perpetrators, who are the executives who should personally be held responsible for their alleged misdeeds.
The SEC is adding injustice to the shareholders, who already have suffered the injustices done by the officers and executives of these companies.
The only way to ensure that companies obey the law is to hold the very individuals who disobey the law personally accountable.
Exact justice on the individuals responsible for the wrong-doing, not on the already victimized shareholders.
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