Alex, I'll Take Fines and Settlements: What is $683 billion?

Discussion in 'West Mall' started by Musburger1, May 5, 2015.

  1. Musburger1

    Musburger1 2,500+ Posts

    The link will take you to a spreadsheet compiling corporate fines and settlements from the present back to the 80s. However nearly all of these were incurred in the past 20 years. The amounts are staggering. Very few resulted in jail sentences, and most of the companies are highly profitable. Banks, energy companies, and pharmaceuticals are prominent on the list of over 2,300 fines and settlements. Companies are listed alphabetically.

     
  2. Dionysus

    Dionysus Idoit Admin

    Wow. I didn’t even know Google Sheets could be embedded here. That looks pretty good.
     
  3. Mr. Deez

    Mr. Deez Beer Prophet

    They just view it as a cost of doing business. They break the laws and play the odds of getting caught. They just roll it into the costs of the products and services they sell. Unless somebody goes to jail, they don't give a damn.
     
  4. iatrogenic

    iatrogenic 2,500+ Posts

    Of course, the opposing argument would be that it's much cheaper to settle than to incur the cost of proving you're right. Fighting the federal government is very expensive. They have an unlimited budget and won't get penalized if they lose.
     
  5. theiioftx

    theiioftx Sponsor Deputy

    The federal government gets $8 for every $1 invested in healthcare fraud investigations. If it were a business, I would happily invest in it.
     
  6. ProdigalHorn

    ProdigalHorn 10,000+ Posts

    It could also be the case of the feds knowing a good piggy bank when they see it, enacting massive legislation and then cracking down on companies they know won't fight the ruling in court. It's likely a little of all of it.
     

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