Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Power 2 the People

Power 2 the People's Journal
Power 2 the People's Journal
April 6, 2019

Ode to Joe Biden

Joe Biden is being put through the ringer right now and I think it's a real shame. Though I never met Joe I thought I would share my own experience of how he impacted my life. The night he brought our party back from the edge.

I remember the night he lifted me and millions of Americans out of the doldrums and soothed our fears of a Republican takeover. Those of you that remember the 2012 Presidential debates will know what I'm talking about.

The night of October 3,2012 was the first debate between President Obama and Mitt Romney. For some reason President Obama wasn't on his game that night. Shockingly, Romney dominated the debate and President Obama didn't seem focused or strong. Romney spouted the usual Republican bullshit and Obama didn't really put up a fight. We got shellacked that night. It was so unlike our President.

As my family and I watched the end of the debate we all turned to each other and said "what the F*ck just happened???" For the next week Romney surged in the polls. Obama's lead evaporated and every news outlet was declaring the debate was a game changer and the race was now a toss up. And it was! The feeling of disorientation and impending doom was like nothing I had ever felt up until that time. It would only be surpassed on 11/9/16.

The next week or so was extremely depressing. Every friend and business associate I met with said the Democrats looked weak and Romney really showed he was more presidential. I told them to hold their judgement until after the VP debate. I told them Biden would mop the floor with Paul Ryan and expose the hypocrisy of Ryan and Romney both. While President Obama always took a gentile and cerebral tone in all matters, Joe was a street fighter who knew how to scrap and wasn't afraid to mix it up. After the disastrous first debate that was exactly what we needed.

On October 11,2012 Joe Biden came out swinging. Paul Ryan was used to touting his conservative bullshit uninterrupted and unquestioned.Every time Ryan attempted to spout his trickle down nonsense Biden cut him off and landed knockout blow after knockout blow. Ryan looked like a child and didn't know what hit him. Biden kept him on the ropes all night and showed America that Ryan certainly wasn't ready for prime time and Romney's policies were as much of a fraud as he was. Joe didn't only hit a homerun,he hit a grand slam when we needed it most.

That debate turned the tide. We were back! President Obama wiped the floor with Romney in the next two debates and we won the Presidency handily. Without Joe Biden's powerful performance at a very crucial time, the results might have been different. Thank God for the scrappy kid from Scranton PA.

Sorry such a long post but I wanted to show my appreciation for this man and how he affected me personally..

April 5, 2019

Elizabeth Warren: Corporate executives must face jail time for overseeing massive scams

I love her!!! Posted her whole article because of the WaPo pay wall restrictions. Enjoy!!

Opening unauthorized bank accounts. Cheating customers on mortgages and car loans. Mistreating service members. If you can dream up a financial scam, there’s a good chance that Wells Fargo ran it on its customers in recent years. Last week, after years of pressure, the company finally parted ways with its second chief executive in three years. But that’s not nearly enough accountability. It’s time to reform our laws to make sure that corporate executives face jail time for overseeing massive scams.

In 2016, after the Wells Fargo fake-accounts scam came to light, I called out then-chief executive John Stumpf for gutlessly throwing workers at the bank under the bus — and told him he should resign. Weeks later, he did. When Wells Fargo elevated longtime senior executive Tim Sloan to replace Stumpf, I told Sloan he should be fired for his role in enabling and covering up the fake-accounts scam. For years, I pressured federal regulators, urging Sloan’s dismissal, and last week Sloan “retired.”

Don’t get me wrong. I’m glad Sloan and Stumpf aren’t in charge anymore. But this isn’t real accountability. When a criminal on the street steals money from your wallet, they go to jail. When small-business owners cheat their customers, they go to jail. But when corporate executives at big companies oversee huge frauds that hurt tens of thousands of people, they often get to walk away with multimillion-dollar payouts.

Too often, prosecutors don’t even try to hold top executives criminally accountable. They claim it’s too hard to prove that the people at the top knew about the corporate misconduct. This culture of complicity warps the incentives for corporate leaders. The message to executives? So long as you bury your head in the sand, you can keep collecting fat bonuses without risk of facing criminal liability.

Even when in-house lawyers flag conduct that skirts the law, there’s little reason for executives to listen. The executives know that, at worst, the company will get hit with a fine — and the money will come out of their shareholders’ pockets, not their own.

It doesn’t have to be this way. With sustained resources and a commitment to enforcing the law, we can bring more cases under existing rules. Beyond that, we should enact the Ending Too Big To Jail Act, which I introduced last year. That bill would make it easier to hold executives at big banks accountable for scams by requiring them to certify that they conducted a “due diligence” inquiry and found that no illegal conduct was occurring on their watch. This would force executives to look for wrongdoing or face prosecution for filing false certifications with the government. The proposal would also create a permanent and well-funded unit dedicated to investigating financial crimes.

But we can go further still. Wednesday, I’m proposing a law that expands criminal liability to any corporate executive who negligently oversees a giant company causing severe harm to U.S. families. We all agree that any executive who intentionally breaks criminal laws and leaves a trail of smoking guns should face jail time. But right now, they can escape the threat of prosecution so long as no one can prove exactly what they knew, even if they were willfully negligent.

If top executives knew they would be hauled out in handcuffs for failing to reasonably oversee the companies they run, they would have a real incentive to better monitor their operations and snuff out any wrongdoing before it got out of hand.

My proposal builds on existing laws that impose criminal liability on negligent executives in certain areas. The Food, Drug, and Cosmetic Act and the Clean Air Act hold top corporate executives criminally accountable if, as a result of their negligence, companies distribute misbranded drugs or pollute the air. My proposal would impose similar criminal liability for negligent executives of any company with more than $1 billion in annual revenue in a variety of circumstances, including if that company is found guilty of a crime or is found liable for a civil violation affecting the health, safety, finances or personal data of 1 percent of the U.S. population or 1 percent of the population of any state.

It has been about 10 years since the financial crisis cost millions of people their homes, their jobs and their savings, and not one big-bank CEO has gone to prison — or even been prosecuted. Tens of thousands of Americans have died after overdosing on commonly prescribed opioids, but not a single major pharmaceutical executive has gone to prison for their role in this tragedy. Corporate America needs a wake-up call.

Four words are engraved over the front door of the Supreme Court: “equal justice under law.” It’s the fundamental principle that’s supposed to drive our legal system. But it’s not equal justice when a kid with an ounce of pot can get thrown in jail while a wealthy executive can walk away with a bonus after his company cheats millions of people. Personal accountability is the only way to ensure that executives at corporations will think twice before ignoring the law. It’s time to stop making excuses and start making real change.

Profile Information

Member since: Thu May 3, 2018, 02:46 PM
Number of posts: 2,437

Journal Entries

Latest Discussions»Power 2 the People's Journal