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Senators Want Whistle-Blower Law Enforced

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maddezmom Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 04:45 PM
Original message
Senators Want Whistle-Blower Law Enforced
WASHINGTON - Two senators who wrote a tough but little-understood law to protect corporate whistle-blowers are pressing the Securities and Exchange Commission (news - web sites) for aggressive enforcement just as a case emerges that could determine how companies are policed.


Spurred by scandals at Enron, WorldCom and other large corporations, Congress passed the Sarbanes-Oxley Act in 2002. The law required chief executives to swear that their company's books are accurate. But it also gave corporate whistle-blowers more protection than any previous federal law has extended to insiders who report wrongdoing.


Sens. Charles Grassley, R-Iowa, and Patrick Leahy, D-Vt., who wrote the whistle-blower section, said they wanted to change a corporate culture that "valued profit over honesty."


In addition to making it easier and safer to report corporate misdeeds, the law also:


_requires corporate lawyers to report any misconduct they observe.

_exposes executives and companies that punish whistle-blowers to civil lawsuits under the Racketeer Influenced and Corrupt Organizations Act.


_provides the first criminal penalties up to 20 years in prison and $5 million in fines for firing a whistle-blower in retaliation.

more: http://story.news.yahoo.com/news?tmpl=story&ncid=&e=8&u...
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belle Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 04:54 PM
Response to Original message
1. Kick, this is important
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DulceDecorum Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 05:12 PM
Response to Original message
2. Prison?
What prison?
Club Fed, with maid service, a jacuzzi and two weeks off per year
or Oz?

I want them to got to the Oswald State Penitentiary
with Hannibal as a roomate.
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Gman Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 09:42 PM
Response to Reply #2
6. Maybe even The Anthrax Island
Animal Research Facility
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Califooyah Operative Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-15-04 12:20 AM
Response to Reply #6
8. i love pictures of the president where he looks like he just did a line or
two.
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Califooyah Operative Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 05:15 PM
Response to Original message
3. if you wanna contact the sec, who their pressuring to enforce the law
Edited on Sun Nov-14-04 05:18 PM by Califooyah Operative
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VegasWolf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 05:31 PM
Response to Original message
4. bush is opposed. must protect supporters.
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grannylib Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-14-04 05:52 PM
Response to Original message
5. It's great that they can bring civil suits under RICO...hit 'em where they
live! Their money and their stuff...great.
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maddezmom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-15-04 12:10 AM
Response to Original message
7. kick
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Kellis Donating Member (663 posts) Send PM | Profile | Ignore Mon Nov-15-04 01:42 AM
Response to Reply #7
9. Lets hear it for
HONEST people in Washington!

Hopefully a lot fo people will be whistle blowing in the near future about the scumbag criminals now "occupying" the WhiteHouse and we're gonna need some laws to protect them :kick:
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__Inanna__ Donating Member (246 posts) Send PM | Profile | Ignore Mon Nov-15-04 03:58 AM
Response to Reply #9
10. We need WB protection for those in our GOVERNMENT! eom
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