Saturday, March 17, 2007
The recent conference at Georgetown University Law Center (here) titled "Corporate Criminality: Legal, Ethical, and Managerial Implications," provided outstanding discussion on a host of different topics related to corporate criminal liability. The following is a discussion of one panel from that day:
Panel moderated by Brian Walsh (Heritage) on Regulation Through Criminalization.
Professor Gerri Moohr (Houston) spoke about the duty of loyalty to a firm, noting how it can be the basis for "doing something wrong for the right reasons." She used the Nigerian barge case as her example. She concluded by advocating a fault based system for corporate convictions and presented strong arguments for having a fault based system.
Professor Craig Lerner (George Mason) spoke about his forthcoming co-authored piece that looked at whether in the wake of SOX, people would leave the scene and who would be left. He focused on "risk" in drawing his conclusions, conclusions that were premised on economic analysis.
Professor Christine Hurt (Illinois) talked about how Jeff Skilling would have had to kill five people in Texas to get a comparable sentence to the 24 years he received. She noted the absurdity of using loss as a factor. Her talk looked back at common law larceny and looked at the purposes behind making this conduct criminal, noting that the crime was one related to "breach of peace." She applied this to today by stating, "[t]he new breach of peace are orderly markets."