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'Cheat Working Americans, You'll Go to Jail': Warren Unveils Bill to Punish Criminal CEOs

'Cheat Working Americans, You'll Go to Jail': Warren Unveils Bill to Punish Criminal CEOs

Jake Johnson, staff writer

Massachusetts Senator Elizabeth Warren introduced legislation Wednesday that would make it easier to imprison corporate executives whose companies commit crimes or "harm large numbers of Americans through civil violations."

"Our justice system should ensure that if you cheat working Americans, you'll go to jail."
—Sen. Elizabeth Warren

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I can already see an immediate limitation to this bill. A company entering a settlement is not a statement of guilt. And companies enter settlements all the time because it’s cheaper than proving innocence.

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Jail time will reduce white collar crime. The bill will probably never pass but a corporate CEO would spend a million dollars of shareholder money to stay out of jail for even one weekend. The threat of jail time and a cell with Bubba would work wonders.

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Just what was needed in 2009 when Chicken-Shit O’Bummer and Putrid P’Loser let the Wall Street Banksters off the hook.  Wells-Fargo’s cheating was especially egregious, and yet the top managers weren’t even brought to trial, much less incarcerated.

Punishment should be a mandatory minimum, like they did with drug laws. 10 years. “Up to” 1 yr or 3 yrs could mean 1 day. Steal a couple million for 1 day- probably in a comfy ‘jail’ - quite a deterrent. Liz Warren is way too little, way too late.

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This will be considered too radical, and might harm her election chances. But as an issue for the primaries, go for it Liz.

Again I must reply with cynicism: This great idea will never make it through a corrupt congress. Never.

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As long as “justice” serves two different classes of people, the “upper crud” will always swim away from the hurricane.

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That’s been the problem. Basic Child Psychology:

If there are no consequences for the behavior, there is no reason to change the behavior.

There has to be significant consequence including Jail time and the Corporate Death penalty.

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Great idea Liz. How are you going to get the Corporate, Centrist Vichy Dems to help with that?

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Any corporation that damages our environment should not be able to exist .
What profit is there in causing irrevocable damage to humans our air,water and food .

Zero…

“Corporations don’t make decisions, people do, but for far too long, CEOs of giant corporations that break the law have been able to walk away, while consumers who are harmed are left picking up the pieces…”

I don’t think anyone will argue that senior management – more than just the CEO – needs to be held legally accountable for criminal acts, breaking the trust that consumers placed in them, and for breaching their fiduciary responsibilities, a breach of due care.

That being said, there is another area with grave consequences that exceed the in-your-face financial crimes and breach of trust … forced arbitration. This directly affects two groups of people:

What is forced arbitration?

In forced arbitration, a company requires a consumer or employee to submit any dispute that may arise to binding arbitration as a condition of employment or buying a product or service. The employee or consumer is required to waive their right to sue, to participate in a class action lawsuit, or to appeal. Forced arbitration is mandatory, the arbitrator’s decision is binding, and the results are not public.
Source | https://www.consumeradvocates.org/for-consumers/arbitration

Forced arbitration clauses are so widely used today, that a person has no actual choice but to involuntarily waive their rights under the tort legal system in the USA if that person wants to buy the product or service, or to seek professional employment. Here are just three examples:

  • Purchasing a cell phone monthly subscription service
  • Buying insurance (any type)
  • Employment in the marketing department of any major corporation

Arbitration agreement clauses affect everyone … everyday. Not just those affected by a corporation’s criminal acts or fiduciary breaches.

Please tell me which presidential candidates are giving this issue any committed attention.

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Too radical for the corporate Dems, of course, and no chance of ever becoming law, which Liz knows. I simply see this as an attempt to appeal to low-information “progressive” voters.

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The following article speaks directly your comment…

Britain: the banks and climate change: don’t divest – nationalise!

While I champion Sen. Warren’s efforts - I seriously doubt thatMcTurtle will even allow a floor vote on this.These greedy CEO’s and the politicians that they’ve bought ALL need to be removed from office and sent to jail!

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Legislation specifically aimed at high level white collar crime, CEO’s and such, with severe prison sentences for those convicted, must be the priority for the new Congress in 2020.

The Establishment heads of both halves of the Duopoly will never give up their corporate masters so they will need to be run out of office.

Identifying each and every traitor to the people in every state will become necessary.

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This of course should also apply to politicians. If Trump and any of his fellow patriots are ever convicted of anything, they should be exiled. Seriously.

Not even close to adequate, sadly.

According to the standard textbook on the subject, The Rich Get Richer, the Poor Get Prison, 10th edition, white-collar crime in the U.S. kills 100,000 people each year, while costing us 300 billion dollars.

Until CEOs sit on death row or get life in prison for what amounts to contract killing on a vast scale, nothing will change.

The major parties are joined at the hip in the political collusion required to keep white-collar criminals from serving even trivial jail time for what is nothing less than mass murder for money.

You’ll have to forgive me, then, for my failure to find even a glimmer of hope in a bill that despite it’s gross inadequacy has zero chance of passage, so total is the corruption of both parties in Congress.

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The items in the bill sound good, but I wretch at the title, which came from Liz’s tweet. …working Americans!!! Bernie used to do this a lot.
What about the children, the old folks, the immigrants on their way in, those doing family care, the sick, the poor? Just think about the people who managed to hold onto a job, the workers!
A country has many many people knitting itself together and they all deserve respect, love and care.

This type of article fosters my support for Senator Warren to become our nation’s next Attorney General, with an agenda!!!