The former general counsel of USAir is speaking out against corporate crime.
Lawrence Stentzel, who now works at Morgan, Lewis & Bockius LLP in Washington, D.C., has written a paper, “Federal Regulation is Not an Effective Deterrent to Corporate Malfeasance.”
Stentzel says in the paper that regulators have failed to be stringent enough and properly punish corporate wrongdoing. He says sanctions are rarely imposed and when they are, they are so minimal it does not discourage future corporate crime.
He recommends the government create a database of corporate wrongdoing.
When Corporate Crime Reporter asked if he knew more corporate lawyers speaking out, Stentzel responded: “I do know them. But they are pessimistic about the future and believe that greed has overtaken everything else.”
So here’s our question for you:
Do you agree with Stentzel that more corporate lawyers should speak out? As a GC, do you share his bleak view of the future of corporate crime?
Leave a comment below or email me.
Need to Know:
- Facebook’s general counsel is leaving.
- The Department of Energy’s general counsel has been nominated for the federal bench.
- The Commerce Department’s general counsel (and Secretary of State John Kerry’s brother) will serve as acting Commerce secretary.
- Barclays’ deputy general counsel is leading the pack to take the company’s open general counsel position.
- The keynote speaker for the 25th annual General Counsel Conference was announced.
- Lincoln Financial Group named a new vice president and chief counsel.
- Marriott’s former in-house counsel goes into private practice.
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