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Are Large Fines and

August 8, 2012

Are Large Fines and Settlements The Only Real Deterrent For Corporate Fraud? *http://bit.ly/Rqtdjn The feds say it’s too expensive and difficult to nail down individuals for corporate wrongdoing. But the problem is, there’s little deterrent value to these settlements when corporations simply write them off as the cost of doing business. In order to actually stop these practices, a fear-inspiring example is in order: WASHINGTON — Pharmaceutical companies, military contractors, banks and other corporations are on track to pay as much as $8 billion this year to resolve charges of defrauding the government, analysts say — a record sum and more than twice the amount assessed last year by the Justice Department. The surge in penalties is because of a number of factors, including the resolution of longstanding actions against drug makers and military contractors, as well as lawsuits brought against mortgage lenders after the financial crisis. But it also reflects a renewed emphasis on corpora

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