If this happened in the United States, Donald Trump would have pardoned him.
In the U.S. nothing would have happened in the first place. Bankers and the wealthy are above the law in the US.
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Not to get all tankie here… but executing corrupt bankers? America could learn a thing.
Biggest mistake of 2008 was not holding people accountable. Second biggest mistake was bailing out the banks.
The government should have enforced collective bargaining to keep people in their homes, and cap ARMs at 3% APR, and make the maximum payment of a mortgage no more that 25% of the owners annual income, and capped the term length at 30 years. Bank’s can’t make money on those terms? Fuck’em. We should care more about people being able to live in their houses than we should care about a billion dollar business’ bottom line. Investing comes with risk, accept the risk that if you build a system that topples the economy and forces people out of homes due to predatory loans, that you might lose some profit.
I am an anarchist, but I find myself saying that more and more lately. Some people got more conservative as they age, I wonder if Gen Z might get more tankie as they age and be like “Fuck it, let the communists do what they gotta do”
As an older Gen Z, not only will I let the commies do what they gotta do but I’ll grab the shovel and start digging some graves
While I do think the rich need much more consistent and aggressive punishments for their crimes… I am still not a fan of the state killing people. Especially when they themselves are often corrupt.
What’s to say they just want to do something like this to insert their nephew as new head of said bank etc?
He took 1.1 billion yuan equal to 156 million dollars
Trump is asking the government to pay him 230 million just for investigating him.
See that’s how you get paid. In the US they flip over for $10k and box seats to an nba game.
This is an area where the U.S. could learn a lot from China come 2029.
Say what you want about China but can you imagine if the US held billionaires accountable even without the death penalty?
What about the bribers?
The government wasn’t shocked enough apparently…
And then people wonder why the Chinese have very high confidence in their government. Even if they only do this to the most brazen, that still builds an image of a government working for its people. It also sends the message that corruption has limits to the would-be corruptees.
I don’t think you’re allowed to have low confidence in the government there.
I think in the long term this kind of thing puts China ahead of the US
