Posted on 01/29/2007 5:45:48 AM PST by Brilliant
Write about politics long enough and you come to think you've seen everything. But even we didn't expect to see a leading Senate Democrat declare that tort law abuse is making America less economically competitive. Has Chuck Schumer told his colleagues about his epiphany?
Mr. Schumer was knocked off his horse last week on the way to a press conference with Governor Eliot Spitzer and New York City Mayor Mike Bloomberg to discuss the ways that regulation is driving financial business from U.S. shores. Governor Spitzer's presence was so ironic that even he -- not famous for his self-deprecation -- had to joke about it. But the really big news is that Mr. Schumer endorsed a study declaring that tort reform is the single biggest key to retaining U.S. leadership in global finance.
As political conversions go, this is like Dick Cheney endorsing a stronger Congress. Mr. Schumer is chairman of the Democratic Senatorial Campaign Committee, which puts him at the center of fundraising for Democratic candidates. And trial lawyers have been a leading and deep-pocketed constituency for Democrats, donating millions of dollars in each election cycle. Over the last decade, more than 90% of trial lawyer donations have gone to Democrats. In return, the Democratic Senate caucus has been a bulwark against tort reform...
(Excerpt) Read more at online.wsj.com ...
I'm starting to think that voting in the Democrats was a good thing. Before you start flaming, let me say that with a Democrat majority, it is easier for the Dems to vote for pro business and other conservative issues that they themselves sponsor. (Remember welfare reform under Clinton?) Also, the press will fawn all over any proposal that comes from the sainted mouth of the Democrats. If a Republican proposed dismantling Sarbox, it would be dead in the water, but if the Democrats suggest it, it will pass.
Words, cameras, Prince of Pap........meaningless...
What is Sarbox?.........
I agree with you, except that it goes against my grain to reward those who created this monstrosity in the first place. Basically, you are giving into blackmail. In the long run, it will come back to bite you.
Sarbanes-Oxley?
Sarbanes-Oxley Act. Public Company Accounting Reform and Investor Protection Act of 2002
A pain in the assssss.
Welfare Reform under clinton didn't happen until the GOP won control of both houses. And a Democrat would NEVER propose dismantling Sarbanes-Oxley, but would instead propose making it more onerous.
WHEW!!!!For a minute there I thought she misspelled Starbucks!.......
"What is Sarbox" The WSJ acroynym for Sarbanes Oxley.
And yet, that is what they are proposing in this article if you read to the bottom.
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