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11:53 AM on 03/24/2011
If the crime is big enough, like laundering billions of dollars of drug money, just fines.

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=asU.b_fCjHTE
Wachovia's Drug Habit - Bloomberg.com

"...The bank didn’t react quickly enough to the prosecutors’ requests and failed to hire enough investigators, the U.S. Treasury Department said in March. After a 22-month investigation, the Justice Department on March 12 charged Wachovia with violating the Bank Secrecy Act by failing to run an effective anti-money-laundering program.

Five days later, Wells Fargo promised in a Miami federal courtroom to revamp its detection systems. Wachovia’s new owner paid $160 million in fines and penalties, less than 2 percent of its $12.3 billion profit in 2009.

[snip]

‘No Capacity to Regulate’

Large banks are protected from indictments by a variant of the too-big-to-fail theory.

Indicting a big bank could trigger a mad dash by investors to dump shares and cause panic in financial markets, says Jack Blum, a U.S. Senate investigator for 14 years and a consultant to international banks and brokerage firms on money laundering.

The theory is like a get-out-of-jail-free card for big banks, Blum says.

“There’s no capacity to regulate or punish them because they’re too big to be threatened with failure,” Blum says. “They seem to be willing to do anything that improves their bottom line, until they’re caught...”

The Rule of Law is dead.
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TXfemmom
Grandma with eye on the future
11:48 AM on 03/24/2011
If this gentleman got that much jail time for stealing a code, for which he received no money, then how much time should the Goldman CEO receive for having stolen, essentially, all that money via all their fraudulent behavior? 
 
Sex offenders receive less time than did this guy...white collar crime traditionally does not have harsh sentences like that.
04:36 PM on 03/24/2011
This is like saying somebody who stole a WMD and deserves a lighter sentence because they did use it.
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sensimilla
Lead with your heart, and your mind will follow...
11:38 AM on 03/24/2011
This guy should be given a medal, for exposing the biggest fraud in finance, G$, who have manipulated the stock market with govt approval(read paid off) for over 50 yrs. They are closely connected to EVERY SINGLE stock market crash in the last decades, and should be put out of business, their traders jailed, and execs pay the ultimate price for the amount of pain and suffering this ONE company has caused the citizens of the world in the name of PROFIT$$$..

Surprised they didn't have him k1lled.
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drkazmd65
Mom Taught me - Question Everything - Thanks Mom!
10:54 AM on 03/24/2011
Sadly - I must admit I am not surprised by the relatively stiffness of the sentence in this case.

This man had the audacity to "F^ck" a corporation and take their money.

A rapist 'only' did it to a person.

Should we expect anything diferent in our Corporatist State?
10:39 AM on 03/24/2011
Oh, gee, I am so surprised and all. One of the owners of the "justice system" in the US government gets ripped off, and the sentence is overboard.

Anybody got a count of how many WS pukes and bankers have gone to jail since the crash for their part in robbing the Treasury? What? None?
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11:47 AM on 03/24/2011
Yup, none. The vampire squid needs to die.
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06:04 PM on 03/24/2011
Any organization that causes this type of suffering should have its charter terminated...

http://johannhari.com/2010/07/02/how-goldman-sachs-gambling-on-starving-the-worlds-poor-and-won
How Goldman Sachs gambled on starving the world's poor - and won : Johann Hari

"...It starts with an apparent mystery. At the end of 2006, food prices across the world started to rise, suddenly and stratosphe­rically. Within a year, the price of wheat had shot up by 80 per cent, maize by 90 per cent, rice by 320 per cent. In a global jolt of hunger, 200 million people - mostly children - couldn't afford to get food any more, and sank into malnutriti­on or starvation­. There were riots in more than 30 countries, and at least one government was violently overthrown­. Then, in spring 2008, prices just as mysterious­ly fell back to their previous level. Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it "a silent mass murder", entirely due to "man-made actions."

[snip]

So it has come to this. The world's wealthiest speculator­s set up a casino where the chips were the stomachs of hundreds of millions of innocent people. They gambled on increasing starvation­, and won. Their Wasteland moment created a real wasteland. What does it say about our political and economic system that we can so casually inflict so much pain?.."
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Majestry
Every man is the artisan of his own fortune
10:11 AM on 03/24/2011
The best justice system money can buy.
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Captain Hindsight
Seeking the truth is my only agenda.
09:27 AM on 03/24/2011
Where's the jail time for the theives that used the code to steal trillions?
10:29 AM on 03/24/2011
There were no thieves who used the code to steal trillions. You can't wish it to be true. Goldman Sachs was using it legally, and they were not making trillions.

What Goldman consistently has said is the code COULD be used illegally.
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sensimilla
Lead with your heart, and your mind will follow...
11:39 AM on 03/24/2011
G$ are the "thieves" who used the code to STEAL Billions from the people of the world. It's only "legal" because G$ pays millions to politicians to keep it that way.
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Captain Hindsight
Seeking the truth is my only agenda.
02:58 PM on 03/24/2011
So because GS said it's legal it's legal. They were just doing GODs work.

The SEC is owned by GS so whatever they want to be legal will be legal.
Tell that to the people who lost their jobs, retirements, health care and homes.