We cannot ignore the devastation caused by fraud in the big banks. Banking misconduct has triggered millions of housing foreclosures and has pushed our economy to the brink of a second great depression. Many Americans lost billions if not trillions of hard-earned dollars. We need to make sure that never happens again.
The WARN Act will take bold action to hold big banks and Wall Street accountable for their criminal behavior.
The big banks have escaped prosecution, in large part, because protections for whistleblowers in the financial industry are very weak. Without whistleblowers coming forward with inside information, our ability to hold Wall Street accountable will be straight-jacketed.
Time and time again, effective whistleblower protection have shown themselves to be the most effective means to get the information we need about corrupt enterprises. Applying these protections to the financial industry is a massive step forward, and will be essential to preventing the next financial collapse, and protecting the American people.
The banks and the Wall Street lobbyists are already working to kill this bill. Wall Street hates whistleblowers with a passion. We need a massive showing of public support to ensure this historic bill is passed.
