Wall Street Crimes Should Be Punished With Prison, Not Just Fines

Tuesday, 07 Dec 2010 10:23 AM

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According to a New York Times editorial, the U.S. Attorney in Manhattan, Preet Bharara, told the New York City Bar Association that “'illegal insider trading is rampant' and vowed that he would use ‘every legitimate tool’ to track down and prosecute this crime." The editorial writer said, "It’s about time,” and I agree.

Wall Street entrepreneurs have, figuratively speaking, gotten away with murder. They (individuals and firms) have beggared millions and ended up with deals providing for multimillion-dollar fines, but no prison time, while poor and middle-class people stealing far less go to prison in addition to paying fines.

I believe when the Wall Street rip-off artists are apprehended, law enforcement should seek to obtain some prison time for individuals, particularly in the pay-to-play scams — forms of bribery. It is ridiculous and an insult to the honest people in our society and on Wall Street.

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