Bipartisan clawback act.

[lg325]

Warren, Hawley, Cortez Masto, Braun Introduce Bipartisan Bill to Claw Back Compensation From Failed Bank Executives | U.S. Senator Elizabeth Warren of Massachusetts Everyone from Elizabeth Warren to Rick Scott had some type of hand in this. From what I read so far I hope it goes through. It just popped into my e- mail so I thought I would share some good news from Washington D.C.

 

[1srelluc]

Good luck with that and the 10 year court battle afterwards. It will cost so much to prosecute the .gov will go in the hole just to make their lawyer cronies rich.

 

[pknopp]

This would be great so it probably won't pass. Should have been passed 15 years ago.

 

[lg325]

Good luck with that and the 10 year court battle afterwards. It will cost so much to prosecute the .gov will go in the hole just to make their lawyer cronies rich.

When it comes to getting it done it may take massive protest by us regular folks in Washington D.C. again .

 

[1srelluc]

This would be great so it probably won't pass. Should have been passed 15 years ago.

LOL....They would still be fighting the first case.

No, the thing to do is to not bail any bank out, let chips fly and fall where they may.

Then, after enough suffering has passed, charge the bankers criminally and put them away for a long time.

 

[pknopp]

LOL....They would still be fighting the first case.

I suppose we could make any bank not wanting to participate not be covered by FDIC insurance. Maybe that will work better.

No, the thing to do is to not bail any bank out, let chips fly and fall where they may.

I'd go with that also but every bank would fail the day after that was instituted. No one is going to trust a bank with their money without an outside guarantee.

Then, after enough suffering has passed, charge the bankers criminally and put them away for a long time.

I'd prefer criminal charges over financial ones.

 

[1srelluc]

I suppose we could make any bank not wanting to participate not be covered by FDIC insurance. Maybe that will work better.




I'd go with that also but every bank would fail the day after that was instituted. No one is going to trust a bank with their money without an outside guarantee.




I'd prefer criminal charges over financial ones.

That's the part of the whole claw-back thing that I don't get.....If what was done was egregious enough to warrant a claw-back then why aren't they charged with criminal negligence?

I believe there is more to this than meets the eye.....Where are the clawed-back funds going?

 

[BluesLegend]

Dems should claw back the trillions in student loan money their pals in higher education took.