Essay Corruption in Corporate America

807 Words Dec 13th, 2006 4 Pages
Corruption in Corporate America As said in every economics class, the reason every business goes into business is to make money. The same can be said in criminal cases involving businesses. In the majority of cases, executives and people highly ranked in the company tend to bend the numbers in the financial/accounting areas of the business or corporation. They do not do this for fun, but rather to make money. Something needs to be done before corporations really get out of hand. Thankfully, after the Enron Corporation scandal, the government has recently started to crack down on corporations and pay more attention to what they are doing. This is due to the extent of what Enron Corp did for so long. From approximately 1996 to 2001, …show more content…
Cuba was very popular and affected the New York Yankees and ESPN. Orlando Hernandez was not supposed to be in the United States and the Yankees felt the heat for that. But it is quite evident that the government has to step in, but how? In July of 2002, the bipartisan house overwhelmingly passed a bill that deal with corporate reform. In majority, the bill would add criminal penalties and now make the guilty do time behind bars like the rest of the criminals. As said by House Judiciary Committee Chairman James Sensenbrenner, R-Wisconsin during a floor debate, "It [the house bill] goes a long way to protect the life savings of many Americans by making the price of theft too high". The bill would not only increase the maximum prison term from five to twenty years for wire and mail fraud, but create a new section entitled "securities fraud". This would make the statutes more general and less technical stipulation than currently installed. The maximum penalty for this would be an astounding twenty-five years. Once again, Enron is a leading cause in the creation of corporate change and triggered a new law against shredding documents valuable to a case involving criminal obstruction of justice. In addition, the bill would raise the maximum term to twenty years in this case. Additional provisions include; corporate executives must certify company financial statements, allow the SEC to freeze payments to corporate executives, strengthen the

Related Documents