Financial Regulators’ Fine Mess
When an athlete breaks the rules, it is easy to figure out whether the relevant disciplinary body really wants to discourage repeat offenses. The recent $13 billion settlement between the US Department of Justice and JPMorgan Chase, one of the world’s largest international banks, should be viewed the same way.
WASHINGTON, DC – When an athlete breaks the rules, it is easy to figure out whether the relevant disciplinary body really wants to discourage repeat offenses. Suspending a player from the sport – as happens in soccer in the case of dangerous fouls – is a real punishment, not only for the individual but also for the team.