Bush asks corporate America to clean up its act

Washington Times ^ | 6/28/02 | Patrice Hill

[kattracks]

President Bush exhorted business executives yesterday to be honest with investors as the administration sought to quell the crisis of confidence on Wall Street with swift action to punish WorldCom Inc.

In an orchestrated campaign aimed at putting to rest criticism by some in Congress that regulators were asleep at the switch, administration officials called for jail terms for errant executives. Also, the Securities and Exchange Commission went to the courts and froze WorldCom's assets within a day of its admission that it made the largest accounting misstatement in the nation's history.

[Jay W]

That's good for Bush to say that, but not enough. The crooks who've headed up World Com need to be put in prison. Not the good, clean country-club prisons, either. No Club Feds for them. Put them in with the scum of the land in the really bad prisons. The same goes for the crooks who've headed up Enron, and the other dozens of corporations that have defrauded investors and employees.

[ridensm]

"I'm concerned about the economic impact of the fact that there are some corporate leaders who have not upheld their responsibility," he said, speaking as a former business executive.

"If you're a responsible citizen and you run a corporation in America, you must fully disclose all assets and liabilities, and you must treat your shareholders and employees with respect."

Sure, speaking as a former business executive who sold all his shares of one of the companies he bankrupt shortly before the announcement that sent the stock tumbling, then used that money to buy a small share in the Texas Rangers to up his name recognition before being elected governor of Texas.

Sheesh.

[ridensm]

And for all the bush-o-philes on this site, the last comment was not out of animosity, or hatred, or jealousy, or any other feeling a typical liberal would attribute to someone who has a different opinion than themselves. The comment was strictly pointing out the fact of the hypocrisy. Facts should be known and taken into consideration of ones opinion regarding the statements made by any individual.

[WyldKard]

Does he really want them to clean up their acts, or just stop getting caught? *heh*