Labor-backed fraud measure certified for ballot
8/18/2008 - 11:40amA labor-backed measure that proposes to hold executives criminally liable for corporate wrongdoings has been certified for the November ballot, Colorado Secretary of State Mike Coffman said today, reports Andy Vuong.
Proponents submitted more more than 124,000 signatures last month, and Coffman's office deemed 87,572 to be valid based on a random sample. The measure needed 76,047 valid signatures from registered voters to be certified for the ballot.
The measure will appear as Amendment 53.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
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Why not?
gwats
We saw happened last week in that ICE raid in the South. 600 arrested but no execs in bracelets. If those execs knew they could have gone to jail, those Mexican nationals would have never been hired in the first place. Now everyone in this situation except the ones who got paid is sitting in jail and many lives have been ruined. If you dry up the opportunities for illegals to work here, the situation fixes itself. Go after the business owners, lock them up, and they will suddenly become zealous law-abiding Citizens!
It's about time we hold them accountable
We hear about new instances of fraud every. single. day. They're not all big cases like Joe Nacchio and Ken Lay, but seriously, look up recent news for words like "fraud" and "ponzi scheme" and you'll see just why we need this.
There's a gap in state law that allows the individuals who break the law to get away with a slap on the wrist. Just look at Joe Nacchio! He's avoided jail so far while Qwest employees have and still are paying for his greed with their pensions, savings, benefits, reputations... how many people have to feel the effects of a greedy executive's crimes before people realize that we need to give law enforcement more tools to fight white collar crime?
Not all CEOs and business executives are greedy or evil or criminals... far from it, I imagine. But there are always bad apples in the bunch and 99% of the time I bet you they get away with their fraud. For the 1% who do break the law and get away with it, we need this law. If companies aren't breaking the law, I see no reason why they should have opposition to this. It only goes after the people who either directly break the law, were involved in it, or knew about it but didn't do anything. People who weren't involved won't be held accountable. It sounds completely and utterly reasonable to me.