Jerry Robinette: Pockets Satisfy Penalties

Posted by admin on Saturday, December 5, 2015

Jerry Robinette, a former compliance officer at JPMorgan Chase in a Money Quotation saying Jail time and personal penalties are the only way to stop banksters from illegal activities. Jerry Robinette, who served as the agent in charge of Homeland Security Investigations in San Antonio said:
 

 

“Until you start sending people to jail, the pockets are there to satisfy the penalties. It’s not until the ends don’t justify the means that you may start seeing people thinking differently” — Jerry Robinette

 

 

Jerry Robinette seems to be arguing that financial penalties alone are not a sufficient deterrent for misconduct on Wall Street and in the banking industry. He suggests that as long as the potential profits from illegal behavior outweigh the fines, people will continue taking risks and breaking rules.

Robinette implies real change in behavior and thinking will only occur when wrongdoing risks personal consequences like jail time, rather than just monetary penalties paid by shareholders. His remarks portray incarceration as necessary to alter the calculus that currently allows the ends (profits) to justify the means (unethical actions) for some in the financial sector.