Where there is flagrant abuse of corporate entities we must and will seek to tackle it.
Sentiment: NEGATIVE
At D.O.J., we don't want to go after the corporate wrongdoers simply as an end unto itself; we want to decrease the amount of corporate wrongdoing that happens in the first place. We want to restore and help protect the corporate culture of responsibility.
I want to be clear. No company is too big to be prosecuted. We have zero tolerance for corporate fraud, but we also recognize the importance of avoiding collateral consequences whenever possible.
If you want to fight the evil you see in finance and industry, get to work reading the corporate filings, see if there has been fraud, and where you find it, report it to the SEC or write about it or blog about it.
If we want corporations to act differently, we have to force them to do so through laws that are fully enforced and through penalties higher than the economic benefits of thwarting the laws.
When Enron collapsed, through court processes, thousands and thousands of emails came out that were internal, and it provided a window into how the whole company was managed. It was all the little decisions that supported the flagrant violations.
We've got to look at waste, fraud, and abuse across the board.
If China is doing business with a company that ends up putting money back into proliferation activities, then we'll sanction that company and China.
If a company has acted badly, people want to punish it - not in order to deter future misconduct, but simply because they're outraged. And the more outraged they are, the more punishment they want to inflict.
We are not going to be the agency where large businesses can masquerade as a small business and get a contract. We are closing down on fraud, waste and abuse.
I do not want to put U.S. companies in a position where their competitors are behaving in a way that is inconsistent with the way they are required to behave. That is neither fair, nor will it solve the problem.
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