Thursday, 20 June 2013
the king of prussia and the bad bankers
It's like the title of a children's story.
No. It's just that A) I heard there's a place in America called King of Prussia, named after a pub.
And B) I just wanted to register that I couldn't agree more with the banking commission that jailing a few bankers would be a good idea. As I've said before, this is not because I want revenge and show trials, but because they committed crimes.
I get that they are complicated crimes, and very hard to prosecute, and bankers are rich and will try anything to stay out of jail, but that's the point. They will have to try everything, and even if they don't go to jail, people will think they are guilty. Because a chunk of them are. And they will rat each other out if they're scared, which will help.
They are scared of what other people will think, and when I say people, I mean their friends. I know, because I am one of some of their friends. For the record, I bet the bankers I know haven't committed crimes. They are not bad people but some of them don't get that they and their colleagues done wrong things, and that some of these things will have been over the line.
Believe me, this is one of the few cases where jail, or just the serious, credible threat of jail, will have a deterrent effect, like jail is supposed to. It absolutely would.