“If Jamie Dimon thinks it’s a good idea for giant corporations like J.P. Morgan Chase to have multiple obligations, he and I agree,' Sen. Elizabeth Warren told JohnJHarwood. 'Then let’s make that the law.”
The Accountable Capitalism Act would require companies with more than $1 billion in yearly revenue to obtain federal charters from a newly created Office of United States Corporations. It would require 40% of corporation directors to be selected by employees and add new restrictions on stock sales by directors and officers."They'll say they're going to do it on their own, and they may make some adjustments," Warren said.
A spokesperson for the Business Roundtable referred CNBC to a letter sent by the group's CEO, Joshua Bolten, in October, in response to a letter Warren sent to 10 CEOs who signed onto the group's statement redefining the purpose of a corporation.
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