To: The United States Senate
Criminal Prosecution of Executives of Companies Committing Fraud
The public interest demands that fraudulent business practices be ended by a system of personal accountability of those executives of corporations, which perpetrate the cycle of ill-gotten gains from outrageous business practices. In effect, they are so driven by personal greed and performing for their shareholders that they enable their subordinates to pilot any scheme or scam, only limited by their imaginations and creativity.
Why is this important?
The vast majority of corporations --- banks, drug companies, hospital corporations, etc. -- settle federal and state fraud lawsuits --- by paying fines and penalties. This punishment has proven to be impotent in deterring these crimes. The massive penalties are passed on to consumers and taxpayers. Unless and until executives are threatened with imprisonment, egregious practices of this nature will continue. To these corporations, fines and legal expenses are just another cost of doing business.