Bush Officials Laud Post-Enron Moves

Associated Press

Bush administration officials gave themselves high marks Tuesday for combating corporate corruption a year after the White House formed a task force in response to the Enron collapse and other white-collar scandals.

"I hope we've seen the worst of it," Securities and Exchange Commission Chairman William Donaldson said after meeting with President Bush for a progress report. "From here on out, the country and the nation, the business community is well informed of the risks" of corporate fraud, Donaldson said. ---

Prosecutors have won more than 250 corporate fraud convictions, charged 354 people with corporate crime and obtained fines, forfeiture and restitution worth more than $85 million, the administration said.

Yet no charges have yet been brought against former Enron chairman Kenneth Lay, a Bush friend and contributor, or former chief executive Jeffrey Skilling.

Ride Don’t Drive It’s Global Cool

They use their consummate skill at ramrodding legislation through congress to reinstate corporate regulation, regulation that recognizes that greed is the most basic of human urges and that there are people who will do ANYTHING, no matter how venal and fundimentally unpatriotic...

Well, the above masturbatory excesses are a sad joke.

With regulation (any)it would cost less directly to taxpayers and we would have better safeguards on investors money and investors/employees retirement funds.

Check out what Al Martin posted yesterday:

(July 21) Our readers should be warned about an amendment that Congressman Richard Baker, Republican from Louisiana and a member of the Bush faction in the House, has tacked onto the so-called Securities Fraud Deterrence Act. ("Securities Fraud Deterrence" -- if that ain’t a Bushonian Oxymoron) This amendment (8b) is intended to dilute the authority of state attorney generals’ offices and state security regulators in bringing legal actions against the large investment houses for fraud. The Baker bill will transfer much of the power of state regulators (who have been very aggressive in going after corporate fraud) to the SEC. The rationale is the same old Bushonian charade -- for the sake of market stability, liquidity and investor confidence.

http://www.almartinraw.com/

Number who lost life savings - thousands
Number charged - 354
Number convicted - 250

Number sent to JAIL - ONE

Yeah, I can see why they're so proud of themselves.

lied in beefing-up the "balance-sheet" to make invading Iraq look like an immediate necessity...then denial of the lies when exposed...

Hmmmmmm..........The Fraternaty gets a free pass????

You make me sick!!!!!

:puke:

oh, thank goodness ... life is so much better now ... thank you Mr. Bush and Mr. Cheney ... the 21st century looks so much brighter now ... <end severe sarcasm>

:argh:


:evilgrin:

they pat themselves on the back for being such good little troopers and hope that is enough to satisfy the public that they have done their duty... as the real criminal perpetrators just slip away unnoticed.

The Acme smokescreen cartoon says it all. Great stuff!

How many Billions were stolen? 85 million is like a penny on the dollar. Ridiculous

...telling, for an opening line

Enron cooked it's books on Clinton's watch.

My point is....Crooks belong in jail, especially the white collar crooks. I don't care when they broke the law.

Deregulation and non-funding of watchdog agencies is a republican scam that dates back to the Reagan misadministration. The S&L scandals were the prototype. Some of the more money hungry democrats enable and participate in this particularly reptilian scam, but the foundation lies in the NeoCon doctrine.

I don't recall Clinton and Lay being "bosom buddy pen-pals" as were Lay and Bush. Lay worked directly with Bush in Texas while Bush was the governor. In other words he was working hand in hand with Bush while he was cooking those books.

If you're trying to juxtapose a relationship, you need only look at the most obvious one... i.e. Lay & Bush!

Has he done anything to deal with it? Did Clinton, or should I say Gore use Lay to structure energy policy?

They passed the "reduce oversight" bills and the "rejiggering" of reporting rules that gave Enron what it needed to commit fraud.

Are you liable for corporate crooks? As much so as Clinton anyway.

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