Keep in mind the NY DFS is run by Benjamin Lawsky. Last year people acted like Lawsky was the new Harvey Dent on Wall Street when he fined the British bank Standard Charter $340M for allegedly laundering $250 billion of Iranian money. I did some quick math: Force-Placed Insurance Profits = ~$45 Billion @$5B per year since 2007 (and going back to 1994) Around 1996, I got caught stealing a $2.50 X-Men Cyclops action figure from Walmart (WMT). I was fined $102.50, didn't get to keep the action figure, and got 60 days of probation, during which I had to submit to random drug tests, write an essay about why shoplifting is wrong and serve 16 hours of community service. Ignoring the fact that I'm the only one who didn't get to keep what he stole (which I'm not bitter about in the least) and focusing only on the numbers, here's a breakdown of the crime/punishment ratio: Crime |Fine |Crime/Fine
- Standard Charter: $250B | $340 | 0.14%
- Force-Placed Insurance: $45B | $14< | 0.03%
- Brian Penny: $2.50 | $102.50 | 4100%
At this point I feel the need to point out that I'm not a professional accountant or a renowned economist. I'm not some sort of Will Hunting level math genius either. I didn't attend MIT and never saw a need to progress beyond calc I. I see a few problems with this chart though.