> "A relatively large whiplash must happen to course correct the general behavior, in my opinion."
Indeed. Someone (or a couple few well-known someones) in positions of real "power" need to do some real prison time in a real prison for their massive lawbreaking and abuses of power before they'll take the situation somewhat seriously.
If you make it clear that even a little slip up of fraud will be at least 1 year in prison and huge fines, I think it would work wonders.
Tough on crime policies don't really work for petty crime, because people are desperate. But rich people have so much to lose that they wouldn't risk it.
> But rich people have so much to lose that they wouldn't risk it.
Ponzi schemes are still a regular thing despite Madoff being sentenced to 150 years behind bars. They're just relabeled as "cryptocurrencies" these days.
Indeed. Someone (or a couple few well-known someones) in positions of real "power" need to do some real prison time in a real prison for their massive lawbreaking and abuses of power before they'll take the situation somewhat seriously.