Should the conditions for corporate bail outs be jail time for the responsible CEOs?
I'm thinking 1 year per million taxpayer dollars. What's your rate or alternate punishment? Gross Negligence would be illegal.
Asked By: Phoenix Quill - 9/19/2008
Best Answer - Chosen by Asker
This would be an excellent idea! Already many CEO's are either committing fraud, or are guilty of gross negligence. Luckily, ever since ENRON there are stiffer laws and penalties concerning what CEO's and top management can get away with... More
Answered By: firstname.lastname@example.org - 9/19/2008
Additional Answers (3)
No they didn't do anything illegal. What you can do is make requirements for bailouts rather then just hand out money.
Answered By: john c - 9/19/2008
It depends on what is found out after an investigation, assuming there is one. If any impropriety is found (ahem!) then those responsible should be prosecuted.
Answered By: Ciao . - 9/19/2008
If you are talking about Fannie Mae and Freddie Mac, Lehman and AIG, we (as taxpayers bailing them out) should at the very least seize their personal assets. Jail time is useless if they and their families get to keep the money that, let's face it (at least in the case of the FM's), they pretty much stole... More
Answered By: MissDeviance - 9/20/2008
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