Re: Admission of Guilt
Unfortunately corporate fines don't impact those who took the illegal decisions (or were incompetent), and they don't alter behaviours. So year in, year out, somebody is being fined eye watering sums for cartel practices - but that doesn't stop people doing it.
The EU competition authorities have levied fines amounting to one to two billion euro a year, and have been doing this for a decade or more. And halfway through 2012 we're already at €0.4bn of fines, not including anything MS have to pony up. And there's no shortage of ongoing work for these boys:
http://ec.europa.eu/competition/cartels/cases/cases.html
Who then pays the fine? Is it the investors - often your or my pension fund? Or, given that all of an established company's revenue comes from customers, is it the customers paying the fine? Either way, the guilty management feel that the prospective penalties on them multiplied by the chance of discovery and successful conviction are less than the benefits of crooked business. And the number of personal punishments for competition offences is small enough to qualify as non-existent.
So if MS are fined again, who's actually losing out, other than you or me in some capacity or other?