From a macroeconomic perspective, it's necessary to ensure that this crap doesn't spread into other sectors and hurt us some more. I really think we're on the verge of another Great Depression if this doesn't happen.
OTOH, I hope some of these executives have to toss some salad with extra grape jelly. There is a moral hazard. A 'little pound me in the ass' prison goes a ways in ensuring it doesn't happen again.
I love how the Republicans are the ones acting like socialists and not letting the "free market" work. Nice.