Wall Street CEO Could Become Unwanted Job if Watchdog Gets Way

If a U.S. government watchdog has her way, Wall Street banks could find it very difficult to persuade anyone to sit in the chief executive officer’s chair.

Christy Goldsmith Romero, special inspector general of the Troubled Asset Relief Program, wants Congress to require chiefs of the largest U.S. banks to sign an annual pledge promising that no criminal or civil fraud has occurred under their watch. If after learning about fraud at their banks CEOs still sign the pledge, they could more easily face consequences such as going to prison.

Protections Eliminated.

That pledge would ostensibly eliminate protections that top ...