Since most large corporations display all the classic signs of psychopathy (anti-social behavior), I would be quite happy to see all the executives of corporations involuntarily committed to psychiatric hospitals for extended periods yearly for necessary treatment. The same should apply to our politicians. Perhaps with heavy medication, daily electroconvulsive therapy and extensive talk therapy, these sociopaths could be rehabilitated to become good citizens of our society rather than the predators and parasites that they currently are.
If corporations want to be treated as individuals then corporations that commit mass negligent homicide from for example lapse safety issues then auto industry's deaths and manufacturing retail clothing industry corporations that employed child labor when the Bangladesh building collapsed should be held criminally accountable for their crimes.
And banks that money launder for extremist groups should all be treated as individuals too and their masterminds aka CEOs, regional management, etc should be tried and convicted and given the death by firing squad pill OR follow the laws as individuals are mandated!
Bringing down 'too big too fail/jail' corporations would not only hurt the people in management but all the pensioners as well. That's exactly why we don't punish many for the acts of a few, right?
The US/Department of Justice said it didn't criminally prosecute HSBC when found guilty of laundering funds for our frenemies i.e. extremist groups, cartels, etc, because it would put too many people out of work. HSBC employs 260k+ people worldwide.
The point of criminal justice system punishments is to deter/eliminate future criminal behavior. The so-called steep penalties you mentioned are up to 50% tax deductible in the US/IRS code. The fines are insignificant compared to corporations quarterly revenues in most cases so how do these fines deter future criminal behavior?
Corporations are made up of people, but they are not people in of themselves and they should not be given an unfair advantage over regular everyday people. When we call corporations "voting citizens," it legitimizes oligarchy and rampant corruption in our electoral process because a wealthy few are able to influence important decisions without the consent of "We the People."