The Racketeer Influenced Corrupt Organization Statute provides 20 years to life imprisonment for members of organized criminal enterprises that have committed at least two of the enumerated crimes in the past decade. It also provides for the forfeiture of assets to the US Government when proven. It is generally used against gangs, drug cartels, and mafia organizations. It can be used to prosecute repeated securities fraud and money laundering.
The President should direct the SEC and Attorney General to investigate, and prosecute violations of the RICO statute by major Wall Street firms and break up those companies guilty of the crime through forfeiture proceedings and incarcerating executives and board members responsible for these criminal enterprises.