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Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Limits Of Corporate Democracy

It is hard to argue that the current amount of fines is sufficiently “punitive” to deter corporate misconduct given the overall size of the companies engaging in misconduct. Some argue that the answer is just to raise the amount of fines and penalties against companies to draconian levels. I guess the thinking is that if devastating fines are imposed, shareholders may rebel and throw out members of the board and management. Unfortunately, corporate democracy does not work as quickly, or effectively, as national elections. Management can be entrenched and use a variety of techniques to preserve their positions within company structures.

From Michael Volkov this week on the Corruption, Crime & Compliance Blog.

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