Den bløde bøde

If a “fine” is less than the profit from the infraction, it’s not a fine, it’s a business expense.

If a “fine” isn’t a fixed percentage of assets, it’s not a fine, it’s a poor tax.

If a “fine” only serves to enrich the government, not to make those harmed by the infraction whole, it’s not a fine, it’s a revenue stream.

If a “fine” is adjudicated by people who profit from the business being fined, it’s not a fine, it’s a stock buyback.

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