Forum Post: Prosecute Bank Executives Under Sarbanes Oxley Act
Posted 12 years ago on Dec. 7, 2011, 4:34 p.m. EST by dcschorr
(4)
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Please sign my petition at The White House website (link below) to have the Administration instruct the Justice Department to prosecute banking executives under the Sarbanes Oxley Act. Not one high level executive has been prosecuted under the Act since the financial crisis three years ago. CBS's 60 minutes, among other sources, found that wrongdoing by high level executives at two banks, Countrywide Financial and Citigroup, have prosecutorial merit.
If you like the petition, please send it to your friends because I need 25,000 signatures by January 4, 2012 to receive an official response by The White House. Just to be able to see the petition in searches, I need 150 signatures. I really think it will be popular once it reaches the level of 150 signatures to be seen in searches.
Thanks for your support.
My White House Petition:
I understand the skepticism about this issue. Nevertheless, I think we have to pressure the White House to do the right thing by signing the petition. By the way, after you create an account on the White House website, you can opt out of White House e-mails.
First of all ....
I will not create an account to sign your petition. Then I will forever be receiving spam propaganda emails from the White House. Fuck that.
Secondly ....
The federal government is NEVER going to prosecute the banks and other companies involved in the mortgage mess that almost took down our financial system.
They won't do it because during the trial it will be exposed on record the federal government's liability and actual culpability in the whole mess.
For years and years the federal government forced banks to give mortgages to people with bad credit ratings and those who could not afford a mortgage.
The defense lawyers would have to be granted access to all kinds of federal government documents (that the federal government does not want released) during the discovery process of the trial.
None of these banks will ever be prosecuted. Not by the federal government. The federal government only has the SEC issue fines. There will NEVER be any prosecutions.
Please keep trying to sign this petition at the White House website. You need to create an account and recieve an e-mail from the White House before they allow you to sign it. Use the link above to sign it once you have an account because you can't search for it on the White House website yet. We need at least 150 signatures to do that!
I think this is an excellent idea. If any banking executive is not SOX Compliant, then he or she is going straight to jail. I am sure they are responsible for non compliance by their minions also. Any such executive can be reported to the Compliance Department of the bank also. They are forced to supply a written reply to any official complaint. The heads of compliance are often the more honest (if that is the right word) characters in the bank also!
Cannot log-in...???
I will sign. Let's not forget Mr. Blankfein...
I tried to sign it, but it absolutely refuses to allow me to log in, or click the "Sign This Petition" button. Apparently this is a common issue, I will try again later.
Edit: Yes, I have an account. I reset my password and managed to sign in, but could still not sign the petition.
Have you created an account first?