We all make mistakes and often for the best of reasons. Often, it's difficult to make the judgement to correct them, partly because of ego, partly because we don't know what's gone wrong and therefore a fix is nothing more than a shot in the dark, or sometimes it's because we know what has gone wrong but we don't understand why it has gone wrong.
In terms of sentencing in English law, there is, in effect, an upper figure. Murder is generally subject to a life term, but convicts are released "on licence" - some earlier than later but, if they are going to be released at all, rarely more than 14 years. The maximum sentence for theft, robbery, money laundering, terrorist financing is, in each case, 14 years per count. Unlike the USA which imposes sentences that run several hundred years after the lifetime of the convict, UK courts rarely impose consecutive sentences where long terms are called for. This is especially so in the case of white collar criminals who, in the UK, are generally treated very gently. And then chunks of the sentence are often suspended.
Tom Hayes is the criminal who has broken that mould.
I am constantly amazed by the utter rubbish spouted by so many so called experts in the field of counter-money laundering, including many who proudly add various letters after their names.
The false information they spread fundamentally undermines all efforts to properly educate those upon whom the responsibility for detecting money laundering falls. That includes front line staff, new entrants to the field and those in positions of responsibility in all manner of businesses, not only financial institutions.
Yanis Varoufakis, has resigned. In one of his last pronouncements as Greek Finance Minister, Varoufakis said the idea that Greece could print Drachmas was a fallacy. He is reported as having said "we destroyed all the presses."
While he might be right in one respect, that of printing actual Drachma notes, he's fundamentally wrong in another. There is an option that would fix much of the crisis - although it's one that would cause the EU to have a major fit.