It's not yet been widely recognised, but the hardcore of the rioters were, in fact, known criminals. Close to three-quarters of those aged 18 or over charged with riot offences already had a prior conviction. That is the legacy of a broken penal system – one whose record in preventing reoffending has been straightforwardly dreadful. In my view, the riots can be seen in part as an outburst of outrageous behaviour by the criminal classes – individuals and families familiar with the justice system who haven't been changed by their past punishments.
However the bankers who committed massive fraud against the public are reported to have had no prior contact with the police. To paraphrase the paragraph above: This is the legacy of a broken regulatory and penal system...In my view the bank frauds can be seen in part as an outburst of outrageous behaviour by the criminal classes -individuals and corporations familiar with the justice system who haven't been changed because there have been no past punishments.