Settlements Don’t Hold Executives Accountable

It is way past time for our various governments, legislatures, attorneys general, and courts to admit that corporations cannot commit misdeeds -- only persons can (“Brokerages Balk at Hefty Settlements,” Dec 11).

The continuing actions of corporate executives, personally or through underlings, purposely or by failure to supervise, causing losses of millions to others while reaping millions themselves, should be treated as felonies, resulting in prison and loss of their misbegotten fortunes.

The spate of large settlements, without admission of wrongdoing, cost the executive wrongdoers nothing, but at great cost to innocent shareholders and, in many situations, to customers or clients.

Dick Littlestone

Pacific Palisades

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Punishment of guilty brokerages by fines of up to $75 million seem like a slap on the wrist and does not appear to provide any compensation to those who were misled by the brokerages.

A more meaningful punishment would be equal to the total capital losses incurred during a period (to be determined) by those victimized by each brokerage. This sum, or a reasonable fraction of it, would then be distributed to the victims in proportion to their losses. Everyone would benefit from this approach.

D.D. Crombie

El Segundo