Vietnam Sentences Two Corrupt Bankers To Death

United States bankers may rarely see the inside of a prison cell, but the Vietnamese are taking financial corruption far more seriously. Vu Quoc Hao and Dang Van Hai have both been sentenced to death by lethal injection after a trial lasting just nine days in Ho Chi Minh City.

"They were given the sentences for embezzlement of assets, mismanagement, abuse of power and fraud, [and] causing serious consequences to the state," reported state TV programming.

The sentence is part of a recent effort to clean up corruption, which has grown rampant in Vietnam.

In the United States, only 17 banking executives were imprisoned for causing the 2008 financial collapse. Considering 463 banks have failed since then, the number represents a very small percentage of those responsible for injuring the national economy. Most of the imprisoned bankers worked at small banks, not the behemoths that likely caused the majority of the nation’s financial devastation.

www.opposingviews.com...
www.businessinsider.com...


Very definite action from Vietnam. I personally oppose death sentence, so I would prefer long term imprisonment in maximum-security prison with all assets to last dime being taken for compensation, even though that is far from the destruction that corruption in financial industry can cause.

How can some people live like that. For gaining additional millions of profit, they risk the jobs of millions around the world.

From the US 2008 crisis, even 3000 miles away people lost jobs. And the people who were most responsible got away with their actions... Nearly any small-time criminal makes significantly less damage to the world in the long run than any corrupt person in the financial/legal industry and these people walk away, while the small-time criminal gets life-time for stealing a 100-dollar jacket from some retail store while being high...

if this was an international law, 2008 financial collapse wouldn't have happened .

Now,

That's the spirit.

Dr UAE
if this was an international law, 2008 financial collapse wouldn't have happened .

Uhh, this is Vietnam, where getting government paperwork signed costs you a few million (Ok, not US dollars but still).

If two people got executed they were either fall guys or they ripped off the wrong person. We are talking systemic corruption of pay offs and 'look the other ways'.

Funny when everyone cites corrupt foreign governments as the prodigy for free and transparent government. Like the comments on killing drug pedlars in China (If we only did the same!), and somehow China still has drug problems…

reply to post by Cabin


Death should be the punishment for corruption in every industry.
Especially in government, law enforcement, and the financial industry. Fines and club fed, white collar prisons are not deterrence enough.

It seems Vietnam can teach the world some lessons when it comes to dispensing justice.

watchitburn
reply to post by Cabin

 

It seems Vietnam can teach the world some lessons when it comes to dispensing justice.

Be being a place with terrible corruption that sacrifices goats to make it look like they are doing something?

Note: I found this article after my first post, yet it ties into what I was saying off the top of my head:

The trial took place at a time when the country’s leaders look to clean up the banking sector and the Communist Party’s Interior Commission, tasked with fighting corruption, has named the scam one of the 10 most important corruption cases involving government and other officials.

But analysts say the jury is still out to gauge whether or not Vietnamese authorities are really serious about delivering on their pledges to weed out corruption.

“Corruption in Vietnam is systemic,” Jairo Acuña-Alfaro, anti-corruption policy advisor to the United Nations Development Program in Vietnam, told Vietweek.

….

Small fish

At a recent session of the ongoing session of the National Assembly, Vietnam’s legislature, lawmakers pointed out that a large number of exposed corruption cases were minor and involved only low-ranking officials at the village or commune levels. They said the anti-corruption campaign was not working and that many inspections had led to few discoveries and little justice.

www.thanhniennews.com...

Source: Thanh Niên News

reply to post by Cabin


Betcha this story is being emailed, twitterd, facebooked, and photocopied in bank offices across the world.

reply to post by boncho


I'm not saying Vietnam is a beacon of liberty and virtue.

But an example of punishing corruption can be commended, even if it's just a token placating gesture. Who knows? Maybe it will give the Vietnamese people bigger ideas.

Here is a newsflash for people who haven't been to Asia. In many of the countries, (which were mostly Imperial for many years), there is a hierarchy of 'haves' and 'have nots' that equals or outweighs the reflection in Western societies.

Strict penalties of death can be found for a number of offences but you will note that these punishments are used either against people who are 'not in the club' or against rising political powers, or long stagnant ones who have lost their might.

Essentially, the stricter the penalties the more leverage you give to the punishment wielders. Long days past, that was an emperor and his court of magistrates. Everyone knew not to mess with them if you valued your man-parts (see Eunuch) or your head. Every so often a warlord would rise to power and maybe challenge them with some nefarious type of assassination or coup.

In any case, I don't see any benefit to implementing these kinds of punishments.

In contrast to the Draconian views of "If we lob heads off people will be afraid to…." You might look at some European countries which have soft stances on crime and rehabilitation.

watchitburn
reply to post by boncho

 

I'm not saying Vietnam is a beacon of liberty and virtue.

But an example of punishing corruption can be commended, even if it's just a token placating gesture. Who knows? Maybe it will give the Vietnamese people bigger ideas.

It's more to say "hey look we are doing something", so a couple scape goats take the fall and everyone else goes on to live another day. The perpetrators behind the deception, strengthen their own stance and get more maneuverability.

Think if the "anti-corruption" director is fully corrupt themselves, if they take down all their enemies and display their perceived moral superiority to the public, people stop questioning their motives.

Scape goating throughout history seems to be a long road to destructiveness.

Adam blamed Eve, Hitler blamed the Jews, Stalin blamed Trotsky, Larkin blamed your mum and dad. Mohammed Fayed blamed Prince Philip and we all blamed Jade Goody who was, as she said on Big Brother, being used as an “escape goat”.

www.telegraph.co.uk...

reply to post by Cabin


While I am a strong proponent for the death penalty in a lot of cases; I will say its much like I say when a bug hits the windshield, "I bet it don't have the guts to do that again."

teamcommander
reply to post by Cabin

 

While I am a strong proponent for the death penalty in a lot of cases; I will say its much like I say when a bug hits the windshield, "I bet it don't have the guts to do that again."

Interesting analogy, exactly how do you kill all the bugs. And, what happens to the ecosystem when they are gone?

Now if there were a way to get the bugs to work for you, like how we use bees to harvest honey… There's an idea.

boncho


In contrast to the Draconian views of "If we lob heads off people will be afraid to…." You might look at some European countries which have soft stances on crime and rehabilitation.

Except when it comes to corruption soft views dont work.

USA/UK has some of the softest penatlty for corruptions......look what happpned.

Vietnamese have got the right idea. Pussy-footing around with the bankers just makes us poorer. Let them have real responsibility for their criminal actions.

crazyewok

boncho


In contrast to the Draconian views of "If we lob heads off people will be afraid to…." You might look at some European countries which have soft stances on crime and rehabilitation.

Except when it comes to corruption soft views dont work.

USA/UK has some of the softest penatlty for corruptions......look what happpned.

USA/UK has less or equal corruption as places with death penalties and indiscriminate killings. I should have pointed out that there is a systematic problem across the board that needs to be dealt with, rather than simply say soft on crime works. The problem is in the governing bodies, not the way it's handled after the crime has happened.

Crime prevention!

In other words, the lobbying (bribery scheme) is not working. (not to mention the banking systems.)

They did what?!?! BOMB THEM I SAY, BOMB THEM BACK TO THE STONE AGE !!!

boncho

USA/UK has less or equal corruption as places with death penalties and indiscriminate killings.

Yeah and being soft didnt prevent the 2008 collaspse did it?

I dont agree with the death penatlty lets get that clear.


But Bankers and politicans that destroy the lifes of millions should be banged up for up to life (25 years) and have every single penny of there assets striped from them to pay for the damage they caused. And if paroled banned from ever holding a goverment or manegerial postion even if it supivisor of a supermarket or mailmain.

crazyewok

boncho

USA/UK has less or equal corruption as places with death penalties and indiscriminate killings.

Yeah and being soft didnt prevent the 2008 collaspse did it?

I dont agree with the death penatlty lets get that clear.


But Bankers and politicans that destroy the lifes of millions should be banged up for up to life (25 years) and have every single penny of there assets striped from them to pay for the damage they caused. And if paroled banned from ever holding a goverment or manegerial postion even if it supivisor of a supermarket or mailmain.

edit on 19-11-2013 by crazyewok because: (no reason given)

That would still be considered "soft" on crime vs the alternative, since death is a pain in the ass to walk away from.

The issue still needs to be addressed at the roots though. And preventative measures have to be in place. It's quite obvious deterrents don't work. Or else we wouldn't have the 5000 year history of cutting off people's heads. It would have stopped somewhere down the line…