Law in Contemporary Society

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DiminishedIndividualCulpability 5 - 17 Apr 2010 - Main.NonaFarahnik
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 I just noticed this case that I thought presented an interesting take on individual culpability. If I understand the case properly, Butler sold people high risk subprime mortgages, claiming they were low-risk student loan backed (and I think we all realize how hard those are to default on). The interesting thing comes during sentencing - in giving Butler a below guideline sentence, Judge Weinstein noted that “The court imposed a non-guideline sentence, taking into account the defendant’s personal situation and characteristics and the circumstances of the financial industry in which he worked,” an industry with a "pernicious and pervasive culture of corruption" and "beset by avarice". While I understand the sentiment, it seems strange to reduce an individual's guilt because an entire system has played outside the bounds - particularly since he was actively defrauding people. Is this diffusing culpability throughout the system? Or claiming that if the bubble never burst, his fraud wouldn't have been 'that bad'?

http://www.dailyfinance.com/story/investing/the-message-in-a-crooked-brokers-reduced-sentence/19328974/?icid=main|aim|dl3|link5|http://www.dailyfinance.com/story/investing/the-message-in-a-crooked-brokers-reduced-sentence/19328974/


Revision 5r5 - 17 Apr 2010 - 19:03:40 - NonaFarahnik
Revision 4r4 - 04 Feb 2010 - 17:05:24 - JessicaHallett
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