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Letter: Corporate crime costs taxpayers

The Columbian
Published: January 10, 2012, 4:00pm

Mitt Romney and the Supreme Court tell us that corporations have the same rights as people. We know people commit crimes and are usually caught, convicted and sent to jail. We occasionally hear that a corporate “head” is suspected of a crime, but rarely is a conviction obtained. Crime costs the taxpayers money. Have you heard how much?

In December 2007, the FBI released the cost of crimes to taxpayers. Street crimes (robbery, murder, drugs, etc.) cost taxpayers an average of $3.8 billion. However, corporate crimes cost us $300 billion for savings and loan fraud, $100 billion for corporate health insurance company fraud, and $15 billion for stock market securities fraud. Those examples are the tip of the iceberg, and five years later, the figures are surely larger.

Since corporations are now “people,” and very expensive people for the taxpayers, shouldn’t we figure out how to put them in jail?

Gross negligence of exiting regulations resulted in the deaths of 29 miners working for Massey Mines. Gross negligence of existing regulations resulted in the deaths of 11 BP oil rig workers.

These two corporate “people” are at least suspected of negligent manslaughter. Shouldn’t we figure out how to put them in jail?

Would Romney even try to correct this?

Celia Louderback

Vancouver

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