Yang wrote in his book The War on Normal People, “For every $100 million a company is fined by the Department of Justice (DOJ) or bailed out by federal government, both its CEO and its largest individual shareholder will spend one month in jail.”
Mark Zuckerberg, the founder and CEO of Facebook, would also be at risk for jail time. Cambridge Analytica is still causing headaches for Facebook and the federal government is already investigating Facebook for potential privacy violations related to how the company has shared the data in the past with outside developers, is negotiating with Facebook to settle the issue with a fine that could be over billions of dollars.
The Department of Justice, FTC ( Federal Trade Commission), which has been investigating Mark Zuckerberg’ Facebook’ privacy practices since March 2018, is nearing the end of investigation. If Facebook is fined, the total is likely to be much higher.
Under Andrew Yang’s proposal, if the DOJ is the one leveling the fines, Zuckerberg would be spending months, if not the years, in the prison.
Wells Fargo took $25 billion in bailout money from the federal government and Warren Buffett owned the largest individual share of Wells Fargo stock through his company Berkshire Hathaway.
By the end of 2016, Warren Buffett’s conglomerate Berkshire Hathaway owned 479,704,270 shares of Wells Fargo worth a total of $26.8 billion. So Warren Buffett would also be spending years, in prison.
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