Reply to post: Re: Rich people's money

Morgan Stanley hit with $60m penalty for failing to properly decommission old kit hosting 'wealth management' data

lglethal Silver badge
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Re: Rich people's money

Actually you're both right.

Earnings based fines have been shown to be far more ethical, and have the same deterrent effect on the rich and the poor (Sweden for one has an earnings based speeding fines meaning a rich person caught speeding pays a significantly higher monetary fine than a poor person commiting the same speeding offense, but both people losing a weeks pay hurts (almost) equally, and has a similar deterrent.

However, the punishment applied should absolutely be proportional to the crime committed.

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