Biden calls for tougher penalties for execs of failed banks

[Yo_Mama_Been_Loggin]

Source: AP

WASHINGTON (AP) — President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry.

Biden wants the Federal Deposit Insurance Corporation to be able to force the return of compensation paid to executives at a broader range of banks should they fail, and to lower the threshold for the regulator to impose fines and bar executives from working at another bank.

He called on Congress to grant the FDIC those powers after the failures of Silicon Valley Bank and Signature Bank sent shockwaves through the global banking industry.

“Strengthening accountability is an important deterrent to prevent mismanagement in the future,” Biden said in a statement. “Congress must act to impose tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing.”

Read more: https://www.msn.com/en-us/news/politics/biden-calls-for-tougher-penalties-for-execs-of-failed-banks/ar-AA18L0Nm

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"Don't blame the executives. Blame wokeness," James (shit for brains) Comer.

[brewens]

1. The laws should be resructured so that any major fraud takes them right down to

their last shitstained pair of underwear. Now it's intent they say they can't prove and that stops prosecutions. Fuck intent over a certain dollar amount. If you're in charge of millions if not billions, you're intent needs to be that shit doesn't happen on your watch!

[Cha]

2. TY & PJB!

[dlk]

3. Claw back the C-suite bonuses

Rewarding bad behavior doesn’t make any sense.