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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.
Dr UAE
if this was an international law, 2008 financial collapse wouldn't have happened .
watchitburn
reply to post by Cabin
It seems Vietnam can teach the world some lessons when it comes to dispensing justice.
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.
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.
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”.
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."
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.
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.
boncho
USA/UK has less or equal corruption as places with death penalties and indiscriminate killings.
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)