Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login
Posted: 7/24/2002 7:40:32 AM EDT
[url]http://www.freerepublic.com/focus/news/721532/posts[/url]
Link Posted: 7/24/2002 7:55:13 AM EDT
I would certainly say Lieberman has some blame, but certainly not all. A centerpiece of Gingrich's Contract With America was "securities reform." Passed in 1995 over President Clinton's veto, the bill shielded outside accountants and law firms from liability for false corporate reporting, and made it more difficult for shareholders to bring suit against fraudulent reporting. A flood of corporate misstatements has followed, with nearly 1,000 companies restating misleading reports in the past five years. Then there were the compromised auditors of Enron and WorldCom, loathe to risk lucrative consulting fees from the companies they audited. In the 1990s, Clinton's SEC chairman, Arthur Levitt, waged a long and bitter campaign to ban this basic conflict of interest. The accountants' lobby -- led by one Harvey Pitt -- blocked the reforms, with Republicans Billy Tauzin in the House and Phil Gramm, joined by New Democrats such as Joe Lieberman, threatening to gut the SEC's budget if Levitt went forward. It's not like the SEC will be pushing any changes to help.
Link Posted: 7/24/2002 8:15:14 AM EDT
It goes to show you that Democrats are not the only ones with hare-brained ideas. The Republicans have their share too, it is just that most of the Republicans are pro-gun, and some of the Democrats are pro-gun. But both parties have their share of radical anti-gunners.
Link Posted: 7/24/2002 10:20:45 AM EDT
The important common denominator is that, Republican or Democrat, they are all politicians. Is there a more useless thing on the face of the earth? A condom with holes in it? [rolleyes]
Link Posted: 7/24/2002 10:41:06 AM EDT
Top Top