To: Eleanore Whitaker
Stop Bank Frauds From Dumping the Cost of Their Fines And settlements on taxpayers
Corporations may not increase prices or take advantage of tax subsidies until their fines or settlements are paid in full.
Why is this important?
It is more than obvious that some in the Big Business do not directly suffer the consequences of their actions. The proof of this began in 2007 when 50% of the Exxon Valdez oil spill, 2 decades old, was dumped on taxpayers. The proof of this is the number of financial settlements on companies like Glaxo and big banks like JP Morgan Chase. Their tactic is to recoup their losses by simply jacking prices of their goods and services until the settlement or fine is paid for by consumers first and taxpayers second. This does not in any way force those who make these fraudulent decisions to suffer the consequences of their actions. But, a petition to pass a law that disallows these businesses to raise their prices or accept tax subsidies until these fines or settlements are paid in full is the only way taxpayers and consumers can put the brakes on this kind of corruption.