April 3, 2019
Banksters: Orange May Suit You
Statements of Public Citizen Experts
Note: Today, U.S. Sen. Elizabeth Warren (D-Mass.) introduced two bills intended to ensure that bankers guilty of misconduct are held accountable. The Corporate Executive Accountability Act declares that it is “unlawful” if an officer “negligently permits or fails to prevent” a violation of law. The Ending Too Big to Jail Act, also introduced in the last Congress, would create a special financial crimes unit specializing in big bank misconduct.
“Banksters crashed the economy in 2008 through massive misconduct, yet not one senior executive spent a night in prison. That’s been a dangerous invitation to wayward Wall Street and other corporate executives to commit more frauds.”
– Lisa Gilbert, Vice President of Legislative Affairs, Public Citizen
“Warren’s legislation takes important steps to make sure that prosecutors can hold senior executives to account when misconduct becomes apparent. Public Citizen enthusiastically endorses these measures.”
– Bartlett Naylor, Financial Policy Advocate, Public Citizen’s Congress Watch division