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You’ve been tasked with defining a new area of criminal law called “economic and financial violence,” and creating laws to prevent it. What actions would you try to criminalize? (lemmy.world)
submitted 14 hours ago by to c/asklemmy@lemmy.world
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For example: private equity firms buying trailer parks and raising rents so high that people go bankrupt

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[–] 12 points 12 hours ago (1 child)

Corporations and businesses now have jail time.

The leading body of the business are each individually arrested for the duration of a full financial audit of their activities to insure that they've followed the law and acted in good faith.

The business itself will be lead by an established committee of financial ethics officers until the sentence is fulfilled.

All net profits, dividends, and financial winfalls of the company are forfeited to the federal government for the duration of the sentence.

After the jail time is served, 80% of all aforementioned incomes are garnished to repay victims for damages.

Any other criminal activities found during audits and operations are to be prosecuted individually.

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  • [–] 0 points 12 hours ago

    Line by line:

    This would basically kill all financial activity, even mom and pops who are, ya know, incorporated.

    Guilty until proven innocent? We going there?

    This part will never get corrupted. 🙄 It's still workable and better than nothing!

    Oh I like this part. Not seeing any downsides.

    Victims generally are compensated. The main issue here is state and federal laws limiting damages using outdated thinking and/or static dollar amounts.

    Again, we already do this, but it seems too many slide anyway.

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