Apr 3, 2019

Elizabeth Warren: CEOs should "face jail time for overseeing massive scams"

Photo: Chip Somodevilla/Getty Images

In a Washington Post op-ed on Wednesday, 2020 presidential candidate Sen. Elizabeth Warren (D-Mass.) proposed a law that "expands criminal liability to any corporate executive who negligently oversees a giant company causing severe harm to U.S. families," citing her previous campaigns against former Wells Fargo CEO John Stumpf and his predecessor Tim Sloan.

The big picture: Warren's trustbusting campaign is following a playbook she laid out in 2016. After placing targets on Big Agriculture and Big Tech, the 2020 candidate is going after banking β€” with health care, telecom and big retail potentially on the list.

Details: In her op-ed, Warren said her proposal would specifically apply to negligent CEOs of any company with "more than $1 billion in annual revenue." This falls in line with her proposed wealth tax, which would take an annual 2% tax on assets above a taxpayer's first $50 million, and 3% on assets that exceed $1 billion.

Go deeper:

Go deeper

Axios Dashboard

Keep up with breaking news throughout the day β€” sign up for our alerts.

What to watch in tonight's Democratic debate

Bernie Sanders at a campaign rally in Colorado. Photo: Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images

Bernie Sanders is now the clear front-runner for the Democratic presidential nomination, and his opponents are ready to try to knock him down at tonight's debate in Charleston, South Carolina β€” especially Michael Bloomberg, who was the punching bag at the Las Vegas debate.

Why it matters: This is the last debate before Super Tuesday, when Sanders is expected to win California and Texas and could secure an insurmountable lead for the Democratic nomination. That's a direct threat to the entire field, but especially to Bloomberg, who skipped the early states to focus on the March 3 contests.

Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

Go deeperArrowUpdated 3 hours ago - Economy & Business