Sen. Elizabeth Warren, D-Mass., will unveil legislation Wednesday that would make it easier to criminally charge – and lock up – executives for a company's wrongdoing.
Executives could face up to a year in jail for a first violation, and up to three years for a second violation. Warren has long lamented a lack of punishment for negligent executives at companies accused of misdeeds, particularly after the 2008 financial crisis. Her legislation aims to encourage better corporate behavior by making leaders more responsible for a firm's conduct.
The existing legislation Warren will reintroduce Wednesday, called the Too Big to Jail Act, targets the financial industry more specifically. It would make a special inspector general within the Treasury Department permanent and widen its jurisdiction to include prosecuting financial crimes. The plan would also make executives at banks with $10 billion or more in assets report annually that they have found no criminal wrongdoing or civil fraud within the firm.
Still, the senator's proposals could help her with a Democratic voting base that has increasingly embraced anti-corporate and Wall Street populism.
total fraud!!! she is the one that shld b locked up!!
Good
How about she be the First to get charged. How does a congressperson making 175 K a year get to be a Milloinare. Let's do a Fiscal autopsy of those on Congress. Can we call BDO?
Shouldn’t the person who committed the crime pay for it even if it was through a company persona. I thought there were laws in place for that already.
She's not President material but would be a great Sec. Of Finance
Pocahontas !!! jonnajarian DonaldJTrumpJr
This will appeal to many. Executives should live up to HIGHEST standards & be responsible for illegal actions of employees on company behalf. FoxBusiness
I thought she was for prison reform?
Polling at 4% will make you say or do anything to stay in the headlines
Like many leftists who’ve never created a. Job in her entire life, ewarren hates successful people plus she harbors totalitarian instincts.