Obama should be tougher on corporates says Warren

January 12, 2016


Elizabeth Warren stated that Obama had failed to enforce laws against big corporations and their executives. She further went on to write in her op-ed in the New York Times that the President had also failed to urge presidential candidates to address this issue in more detail.

The Senator for Massachusetts wrote about Wall Street’s excess and that the President had failed to enforce laws for large enterprises.

The Senator wrote “The administration’s record on enforcement falls short — and federal enforcement of laws that already exist has received far too little attention on the campaign trail,….In a single year, in case after case, across many sectors of the economy, federal agencies caught big companies breaking the law — defrauding taxpayers, covering up deadly safety problems, even precipitating the financial collapse in 2008 — and let them off the hook with barely a slap on the wrist. Often, companies paid meager fines, which some will try to write off as a tax deduction.”

Warren Named the following companies who in her opinion received light punishments , they included Education Management Corp, a for-profit college; drug company Novartis; JPMorgan Chase; and Massey Energy.

She however went on to credit agencies such as The Environmental Protection Agency (who was her former employer) and the Consumer Financial Protection Bureau for their aggressive approach in this regard.

She ended by writing the following “Presidents don’t control most day-to-day enforcement decisions, but they do nominate the heads of all the agencies, and these choices make all the difference,”.