'Let's make that the law': Elizabeth Warren challenges Jamie Dimon and Business Roundtable

[BlueMTexpat]

over accountable capitalism pledge

https://www.cnbc.com/2019/12/15/elizabeth-warren-challenges-jamie-dimon-over-accountable-capitalism.html

Snippets:

...
The Massachusetts Democrat introduced a bill to require the nation’s largest companies to consider stakeholders like their customers and employees a year before the Business Roundtable released its statement, signed by 181 CEOs, calling on businesses to do the same.

“You think you caused them to make that decision?” Harwood asked Warren in the interview.

“Well, all I’m saying is that’s what happened first,” Warren said. “There was a lot of conversation about it, and then Jamie Dimon and the heads of some other very large corporations said, ‘Oh, we don’t need a law. We’re just going to make that change voluntarily.’”
...
“They’ll say they’re going to do it on their own, and they may make some adjustments,” Warren said. “But understand this: There’s a reason you put laws in place. Because the one who doesn’t follow voluntarily is the one who then gets a little short-term comparative advantage, gets to boost the share price just a little bit.”

“You put in rules so everybody competes on a level playing field,” Warren said. ...

***********
And Warren is right on the money. As usual.

[BeckyDem]

1. Greed is NOT GOOD. Warren 2020!!!!!!!!

[BlueMTexpat]

2. I'm most happy

to second that sentiment! Heartily!

[JudyM]

3. This was a huge philosophical change that could have tremendous practical social impact if companies

actually follow it. So psyched to see on the ground results of this. Haven’t heard much since that initial declaration.

Major props to Warren for her impact in bringing this about, I wasn’t aware of that!