China executes 2 for defrauding investors

[Coventina]

Source: Associated Press

BEIJING — China executed two business people for defrauding hundreds of investors out of more than $127 million, calling the scam a serious blow to social stability, state media said Thursday.

China puts to death more people than any other country, although last month a high official for the Supreme People's Court, which reviews every death sentence, said the punishment should be used more sparingly.

Though usually reserved for violent crimes, death sentences are also applied for nonviolent offenses that involve large sums of money or are seen to threaten social order.

The two were executed Wednesday.

China's highest court said the fraud had "seriously damaged the country's financial regulatory order and social stability," the official Xinhua News Agency said.

Read more: http://www.google.com/hostednews/ap/article/ALeqM5g-OsXoiGZD0Xo6lowTh5gUIbFN-gD99T6R780

[conspirator]

1. In the west they are given bonuses nt

[Piewhacket]

9. hey, maybe we could consider 'execution' as the new "PERK' for success? nt

[RaleighNCDUer]

2. And Bernie Madoff says, from his cell, 'God Bless America'. nt

[Lagomorph]

46. Well, maybe when...

his family gets a 65 billion dollar bill for his bullet they might stop smirking.

[NewJeffCT]

3. and people here will applaud China's harsh methods of dealing with corruption

Yet, China has been dealing with corruption the same way for thousands of years - execution. Yet, they still have rampant corruption.

[AtheistCrusader]

6. Hey

Don't go bringing your 'facts' into this...

[NewJeffCT]

7. next thing you'll tell me is that people are surprised when

we get shoddy products from China. Heck, there is speculation that the reason the Mongol invasion fleet sank on their way to Japan was that it was done in by shoddy Chinese workmanship on the boats - and that was like 800 years ago.

[Coventina]

8. LOL! n/t

[Downwinder]

22. We have a lot to learn from China.

[LeftishBrit]

33. So we do - but extending the death penalty isn't one of them.

[Iowa]

34. +1

:thumbsup:

[Deja Q]

53. -1

[LeftishBrit]

10. +1

Excellent point.

[ashling]

12. And they will soon be in charge of the US economy

You want beef and brocorri with you bairout? :sarcasm:

Now we chop off head. :)

[Deja Q]

54. Apart from the racist misspelling, I'll agree there's a silver lining...

Hoisted by their own petard, the wall street crooks...

[provis99]

14. nonsense. China has very little corruption.

The US is the seat of capitalistic corruption. Why? Because we reward the corrupt, rather than punish them.

[WriteDown]

16. Only one response to this....

Bwahahahahahahhahahahahahaahahhahahahahahahahahhahahaahahah!

:rofl:

[NeoConsSuck]

59. Please give us another response

what country was ground zero for causing the longest, deepest recession since the Great Depression? Oh, I guess it was China?

Let me refresh your memory: This was the recession that cost millions of citizens their jobs, their homes, their hopes for a secure retirement. And I'm just talking about the economic damage here in the good ol' USA. But we all know it didn't stop here. This greed damaged *every* country in the world, including China.

[HCE SuiGeneris]

63. You are responding

to an individual that never espouses a Democratic viewpoint, yet somehow remains a voracious poster.

[LeftishBrit]

17. Do you actually know anyone from China?

I know several, and they all say that corruption is a big problem there.

[qwertyMike]

20. There?

Not like us, eh?

[LeftishBrit]

30. There's corruption everywhere...

But they seem to think it's worse in China than England. They haven't for the most part had experience of the USA, so can't comment there.

The UK hasn't had the DP for anything since the 1960s, and I have no desire to see it restored.

[provis99]

21. I lived there five years. My best friend is from Gwangong province.

Most honest people I've ever met. Just look at the Chinese immigrants we get here, and compare them to immigrants from countries where corruption really does exist, like Columbia or Ukraine. To some of the idiots on DU here, communism or socialism automatically means corruption, while capitalism means honesty.

If you really want to see American corruption in action, go to Mississippi, where honesty is considered laughable.

[HowHasItComeToThis]

27. TRUE,

MY WIFE IS FROM GOUGDONG

[DrCory]

44. Never Mind N/T

[LeftishBrit]

32. My Chinese friends and students are ultra-honest too

But they do think there's corruption (both bribery and nepotism) in a lot of Chinese institutions. It doesn't seem that the DP has stopped it, any more than the DP prevents murders in Texas.

My point is nothing to do with communism or with Chinese culture; it is anti-DP. I am not a British chauvinist, and think we could learn lots of things from China and for that matter from the USA. But I think that it is good that Britain has abolished the DP. I think that it is bad that the USA has the DP. I think that it is bad that China has the DP. I think that it is good that China places a far higher cultural value on intellectual achievements and on hard work than is the case in British culture. I think that it is good that the USA has a written constitution and official separation of church and state, where the UK does not. But nevertheless I think that it is regrettable to have the DP even for murder, and awful to have it for other offences.

[DrCory]

45. Prove It

"Gwangong province"?

There is no such place. Unless you mean Guangdong, and I find it hard to believe anyone who lived there five years could make such an elementary mistake.

So, where did you live? What province, what city? What was your job? What was your pay rate in RMB?

[skipos]

61. I have been doing some business there for a few years and I couldn't disagree with you more

Now TIBET has some of the most honest people I have ever met but China? Yikes.

[SkyDaddy7]

24. Yes...

I have been told the same thing...Corruption is very bad in China. Especially the police! Of course we have similar problems here!

[NewJeffCT]

19. Is that snark?

China has very little corruption?

[HowHasItComeToThis]

25. TRUE

[rollingrock]

36. The difference between China's corruption and ours

in the US, corruption has largely been legalized, so its no longer called 'corruption.'

[Vidar]

39. Good point

[Art_from_Ark]

40. If you want to do business in China, you have to grease a lot of palms

Lots of them. Under the table. In China, that might not be considered corruption. But it seems like it would certainly fit the Western definition.

[DrCory]

43. A Steaming Pile...

You haven't a clue what you are saying. Corruption is rampant on all levels of government and business. I lived in that country, married into a Chinese family, and my father-in-law is a Party member/government official.

I have SEEN it with my own eyes, and PAID bribe money out of my own pocket.

[SOS]

58. Transparency International agrees

The US is becoming ever more corrupt, sliding down to #20 on the list of 180 nations ranked.
#1 is least corrupt and #180 is most corrupt.

China comes in at 73.

http://www.infoplease.com/ipa/A0781359.html

As to the OP, there's no need to execute our Wall Street gangsters.
A simple arrest and fraud charge will do.

[notadmblnd]

18. just goes to show that a death sentence isn't a deterrent

obviously some of the Chinese believe that the risk is worth it. Here, our execs face no risk when ripping people off.

Me? I just think it is sad that money is so important to some people.

[Deja Q]

50. Oh, so let them get away with it and live with that much more corruption?

[cliffordu]

4. NOW we're talking.

Pay per view.

[Dr.Phool]

5. Don't give Rupert any ideas.

[damntexdem]

11. Hmm, I don't suppose we could put China in charge of regulating Wall Street.

For just a month or two, even. ;-)

[cascadiance]

28. Perhaps thats the one thing that keeps China from buying out Wall Street altogether...

Is that the crooks know they might be in big trouble if they had to answer to Chinese law in any way, if they are fully owned where they work by China...

[Thor_MN]

48. There wouldn't be a Wall Street after that. The half that didn't get executed would be running

like the wind

[greiner3]

13. You just predicted where W;

Will come out of retirement to, head of the board that oversees executions.

[udbcrzy2]

15. Too bad we couldn't send them a boat load of them

n/t

[TheCoxwain]

23. China is doing something right

I would love to get those laws here in USA..

[izquierdista]

26. I'm usually against outsourcing

But maybe the SEC should consider how terribly overworked they have been.....

[bvar22]

29. Death is too easy.

These people are non-violent, and I would oppose their imprisonment.

The best option would be to seize all assets, and sentence them to spend the rest of their lives on supervised probation with a permanent lien on all income, the proceeds to be used as restitution FOR LIFE.

They should be restricted to a subsistence level income and standard of living FOR LIFE.
It might even be cool to require them to notify neighbors like sex offenders.

[Gregorian]

31. That is a great idea. Besides, murder isn't punishment.

It actually punishes everyone. Really stupid.

Common sense doesn't seem to have much of a place on this planet. I suppose that's really naive of me to say. After all, this forum is full of great thinkers.

[Deja Q]

52. If every child molester was murdered, I wouldn't feel punished.

A victim of more than one, I'd feel a hell of a lot safer.

But that's just me, with just another story of childhood hell I endured.

Try living it sometime.

[Gregorian]

55. I understand. But revenge doesn't cure the pain.

I see these as two separate issues. You had to deal with horrible trauma.

But the mere fact that a government has any level of power and authority over my life is frightening. And not just from the standpoint of morality, but from accidentally convicting the wrong person. Troy Davis is going through this, perhaps.

[Iowa]

35. Excellent post - as usual. n/t

[Jkid]

38. I agree with this.

[conspirator]

47. Seizing all assets, including any donations to family and friends

and transfers to offshore companies.
Otherwise I see no point in seizing assets althogether, because most of them would misteriously disappear.
Ah, and forced labor in a sweat shop until retirement age.

[Deja Q]

51. What such swindlers do to their victims is violent. Unless you don't believe in psychological trauma

?

[Hotler]

37. Maybe if we treated the crooks connected to the BCCI scandel...

like China, we wouldn't be in this melt down. OK! the death sentence is a bit out there but is it to much to ask for some fucking justice once in awhile.

[eppur_se_muova]

41. Hmmm ... let's start some deportation orders going ... nt

[NashVegas]

42. Anyone Need a New Kidney?

These will probably be in decent shape.

[Deja Q]

49. Where are the anti-death penalty DUers to shame China?

I'll applaud China. Some crimes make such EXECUTIONS valid. The US usually rewards such shit behavior or turns them into celebrities or gives them namby pamby jail time, just to be let out to continue it.

[AlphaCentauri]

62. here

but some times I feel like making an exception

:evilgrin:

[newinnm]

56. Nothing... I say nothing justifies givernment sponsored homicide

and for those here who are cheering this, You should be ashamed of yourself. If you think this is acceptable then you are not a true progressive. You should go work for blackwater.

[conspirator]

57. The US government also sponsors murder: what are Iraq and Afghanistan if not murder? nt

[newinnm]

60. nothing justifies murder

[Alamuti Lotus]

64. If facts match accusations, a fitting reaction