Thursday, October 21, 2010

notable fines and no jail time

In case you missed it, former CEO and two others from Country Wide have agreed to pay 67.5 million in fines to settle the civil fraud and insider trading case. The former CEO, Mr Mozilo 71,has agreed to a lifelong ban from serving as an officer or director in any public company. The criminal case still is still in progress, and as I see it, he along with a few others, like Madoff, will spend some time behind bars. We should adopt the very same policy for legislators who violate the voters trust here in Massachusetts.

CVS in Rhode Island was fined 57 million dollars for not keeping controls over products like sudafed whose components can be extracted to make crystal meth. The charges are for years 2001 and up. We would not have the amount of meth on the streets if the companies who sell and manufacture key components would just stop their greedy ways.


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