Congressman Greg Ganske says there need to be bigger penalties for corporate execs who knowingly oversee cooked books. On Monday night, the democrat-controlled U-S Senate passed a “corporate responsibility” bill that would boost the penalties for business fraud. Yesterday, House Republican leaders quickly arranged a vote on a bill that seeks tougher penalties than the Senate proposed.Ganske says the House bill calls for up to 20 years of jail time for corporate crooks found guilty of defrauding the public, while the Senate bill calls for less time — up to 10 years time behind bars for that crime.Ganske says the House bill protects those who expose corporate fraud because it would establish criminal penalties for retaliation against whistleblowers, something that’s not in the Senate bill. Ganske, a republican, is challenging democrat Senator Tom Harkin in this fall’s election.
