Big fines paid by businesses that break the law provide no incentive for companies to change cultures that lead to that illegal activity, says Jed S. Rakoff, a senior judge on the bench of the United States District Court for the Southern District of New York.

Even large fines and bad publicity are often viewed as a cost of doing business rather than a deterrent for companies that break the law.

And a common federal tactic, so-called “deferred prosecution,” is in effect a “get out of jail free” card for executives, says the jurist.

Read more at Stanford University