It is not a deterrent for crimes of passion or ones of desperation. If you are angry and upset you are not going to be stopped by rational thinking of risk/reward outcomes, similarly if you are hungry and homeless this will not be on your mind and no amount of deterrent will stop when there is little to loose.
You cannot stop murder, rapes, petty theft etc with punishments you can deter white-collar crimes which are executed with a lot of forethought as this is a critical decision making factor.
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To be clear I meant loosing financial license is not same as loosing medical or legal license, no one is spending 10 years of education and hundreds of thousands of to get one, so it is not much of deterrent to threaten loosing it.
You cannot stop murder, rapes, petty theft etc with punishments you can deter white-collar crimes which are executed with a lot of forethought as this is a critical decision making factor.
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To be clear I meant loosing financial license is not same as loosing medical or legal license, no one is spending 10 years of education and hundreds of thousands of to get one, so it is not much of deterrent to threaten loosing it.