Legislators feel it's time to make an example of companies like Enron and WorldCom.
Congressman Bob Goodlatte says passing legislation will tighten up criminal penalties and eliminate loopholes in corrupt accounting practices and will ensure the stock market is a sound investment.
"It will only remain sound if we crack down on people who would rip off other people of millions of dollars, throw them in the slammer and make sure every effort is made to recoup any money that they unjustly enrich themselves with," said Congressman Bob Goodlatte, (R) U.S. Representative.
He adds both the House and Senate have passed bills cracking down on corporate corruption. He hopes some new laws will go into effect as soon as possible.