Wall Street CEO Could Become Unwanted Job If Watchdog Gets Way
- SIG TARP Romero wants bank heads to annually attest no fraud
- Plan would make it easier for law enforcement to prove intent
This article is for subscribers only.
If a U.S. government watchdog has her way, Wall Street banks could find it very difficult to persuade anyone to sit in the chief executive officer’s chair.
Christy Goldsmith Romero, the special inspector general of the Troubled Asset Relief Program, wants Congress to require chiefs of the largest U.S. banks to sign an annual pledge promising that no criminal or civil fraud has occurred under their watch. If after learning about fraud at their banks CEOs still sign the pledge, they could more easily face consequences such as going to prison.