Opinion

Financial crimes must be punished

Posted April 17, 2016 1:00 am

The headline in the Herald's April 12 edition reads "Goldman Sachs pays $5 billion to settle allegations of shoddy mortgages." The content of the article reveals that "no individual bank employee is being held responsible." And so it continues that the people who commit the crimes are shielded by their corporate cloaks - something very much like the magic cloak in the Hobbit that renders the wearer invisible.

But as is the case with the Hobbit, we should know that the individuals who build the cultures and those who perpetuate the crimes are still there; still in positions of power; still ready to take advantage at the next opportunity.

When will we learn that crimes are committed by individuals and that these individuals must be held responsible? Until we do learn and take action to prosecute those responsible, why would we expect this kind of crime will not continue.

Richard May

Palatine

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