alt Hacker NewsThat's true in the US as well. It's because that kind of crime undermines faith in the financial system, something it must have to function. People grumble about white collar criminals getting light sentences, but the easiest way to get sent to jail for fifty years is to swindle a bunch of pensioners out of their life's savings.
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That is if you do it the stupid way. If you do it the plausibly deniable way, or with sufficient political backing, such as the current US president or one of the US senators from Florida, then nothing happens, except maybe gaining more power.
Always have your conversations in person and have underlings sign documents relating to transactions.
Also, you can systemically steal from future generations with no consequence, as a voter and leader. Promise people today big pensions and retiree healthcare, underfund today by telling actuaries to use unrealistic assumptions, or just straight up ignore funding recommendations, and then let the debt pile up for others to deal with.
>"It's because that kind of crime undermines faith in the financial system"
LOL. The whole system is based on constantly stealing fruits of one's labor by way of inflation and 2 classes of haves and have-nots in regards to real assets. How can regular Joe have faith in it is beyond my comprehension.
There's a huge difference though, at least in the US: If a company (or very wealthy individual) commits a financial crime, then after they are caught (maybe) and investigated (maybe) and they mount an unsuccessful defense (maybe) and they are fined (maybe) and they lose their five appeals (maybe), after all that happens, they might pay a small token fine that doesn't even approach the damage they did, and have to pinky-swear to a judge that they'll never do it again. Nobody's going to prison. If a normie individual commits a similar financial crime, they're going to be financially ruined and go to prison.