Sunday, October 24, 2010

Jail for Corporate Crooks

Joseph Stigliz, ex World Bank Chief Economist and 2001 Winner of Nobel prize (Economics), calls for jail time for corporate crooks and questions the wisdom behind policies favouring a few big corporations over 300 million people.

Article
Interview

These are two executive articles. I like you to read them because Singapore bas been following the bad practices that had caused the economic downfall of America - the bad behavior of the banks and the corporate sector. Although Singapore is enjoying a healthy economy now, there is the risk the continuing problems in America will hit the rest of the world and caused the next global recession. If it happens, Singapore can be hit quite hard.

2 comments:

Recruit Ong said...

i said it in 2006, punishment for white collar crimes must be harsher

http://recruit-ong.blogspot.com/2006/11/law-protects-elites.html

veronika said...

White collar crimes are

A) difficult to understand
B) requires an equally business mind to detect
C) difficult to enforce
D) negative to captalism

I do not understand many of the rules in the SGX and ACCRA also. How am I to understand that a crime has been committed?

It could also involve many Government people and politicians.
That is perhaps why it is seldom enforced. Too connected.

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