Elizabeth Warren was one of my best law-school professors, but her political ambitions seem to have suppressed her once-reasonable instincts, particularly regarding corporate regulation. One of her recent proposals, the Corporate Executive Accountability Act, would upend hundreds of years of U.S. legal tradition and wreak havoc in boardrooms.
The proposal would make it a federal crime, punishable by up to a year in prison for a first-time violation, for corporate executives to “negligently permit or fail to prevent” violations...
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