White-collar financial crimes are often treated as if they don’t have any victims, when in reality they tend to have the largest number of victims in terms of people whose savings and lives are impacted. The financial crisis in particular was egregious and crashed our economy and destroyed communities that are still digging out today. If someone is making millions of dollars as CEO, they should be ready to step up and take responsibility if their company acts in a way that harms the public interest. We need to ensure that large institutions will not abuse the public trust, which requires real accountability for leaders.
Problems to be Solved
- People committing mass fraud are currently able to profit off of their crimes with limited repercussions.
As President, I will…
- Propose and promote the Public Protection Against Market Abuse Act, calling for mandatory minimum jail sentences based either on the size of the fine levied against financial institutions, or the amount of money involved in the fraudulent or unethical transactions. These sentences will be served by the CEO and largest individual domestic shareholder.
- Direct my Department of Justice to enforce laws against financial institutions to the fullest extent of their power.