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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 465334  
Subject: Re: Why executives aren't prosecuted... Date: 4/21/2013 5:50 PM
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Prosecutors continue to tell us that often it is difficult to prove that executives had criminal intent. Bad business practices are not against the law per se. But if they misled others and defrauded them, that is criminal.

Executives are often clever enough not to leave written records. Someone else made the bad decision without the knowledge of headquarters. Executives prefer to plead incompetence (they did not know) rather than admit criminal activity.

West Texas will probably maintain that they complied with current industry standards. Perhaps storage of large quantities of ammonium nitrate requires either burms surrounding the facilities (to protect the surroundings from blast damage) or spinkler systems to promptly extinguish any fires (and those then require protection from freezing).

I would suspect that the fertilizer industry and its insurance companies will accept and comply with these regulations. But new regulations of the financial community will be fought tooth and nail all the way--with lobbyists in Congress and later in court if they fail to block them. Big bucks can fight long and hard.
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