The "War" on the War on Corporate Crime
After FTC Pledges to Fight Corporate Crime, U.S. Chamber of Commerce Accuses Agency of "Going Rogue"
Rick Claypool
Dec 2, 2021
One day after the FTC announced it is launching a criminal referral program to combat corporate crime, the U.S. Chamber of Commerce accused the agency of “going rogue.”
FTC chair Khan’s statement announcing the program accurately observes, “Research shows that corporate actors can treat even seemingly high penalties as a cost of doing business, and the stock market price of defendant corporations generally rise in response to the announcement of a fine – suggesting that underenforcement and a lack of deterrence may be pervasive,” citing research by Public Citizen and others.
Chamber president and chief executive Suzanne Clark told The Wall Street Journal, “It feels to the business community that the FTC has gone to war against us, and we have to go to war back.”
FTC spokesperson Peter Kaplan made clear the agency does not intend to back down:
https://bigbusinessblotter.substack.com/p/the-war-on-the-war-on-corporate-crime
( Are we in any way surprised? No.You can read more details about these "lovely" people at the link. )
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