Bush Readies Crackdown on Corporate Misconduct

Rueters ^ | 7/8/02 | By Adam Entous

[bloggerjohn]

It's possible, but most judges don't like civil RICOs and give litigants a real hard time. RICO Seems to be something they save for the use of the gummint. It can be done, but you have to get a judge who isn't a jerk and who considers the citizen on a co-equal status with the corporation. From people I know who have tried RICOs of corrupt companies, I suspect such judges are rare.

[AM2000]

Why would anyone be pro-a company unless it was your own company?

[bloggerjohn]

I disagree. The Office of the President has steadily acquired power over the years. So if Teddy Roosevelt could bring the crooks to bear with much less power, so can Bush.

[joyce11111]

The dems are all over this, and, using howard fineman and chris mathews as their star mouth-pieces.

The throw in maxine waters, and, the dems are off and running.

[Twodees]

Unless the stockholders bring charges, how is any of that the federal government's business? Bush is apparently going to make some politically motivated moves against corporate officers whose only crimes may be violations of some unconstitutional FDR era laws. If he's doing this at the urging of McCain and his socialist buddies in the Senate, then he's making himself look like a democrat.

You really think it's about time he went after some "greedy" corporate officers whose stockholders haven't complained?

[UnBlinkingEye]

greedy money hungry snakes.

Another thread about elected officials?

[UnBlinkingEye]

. I'm not even viewing this as a partisan issue - this is way beyond that.

If you are a person who votes for the duopoly, perhaps this will serve as a wake-up call. Bought and paid for politicians are not your friend, they serve those who pay for the hay ride.

[mewzilla]

If the Dems get snippy, I suggest a three word reply: Auditor Independence Rule. They'll know what it means. (Actually so will a few Pubbies, but if the shoe fits...)

[RightWhale]

Hi! I'm President Bush. But you can call me TR.

[Arthur Wildfire! March]

Now for a different perspective. I agree, the cheats should get serious jail time. In fact, I would even mull over the death penalty for anyone who is convicted of stealing 100 million dollars or more.

I would prefer that we begin with those cheats who stole trillions, yes trillions! The ones that rob everyone with the point of a gun through an arguably unconstitutional tax code. But ok. That insane speeder got away. Now lets pick on a more socialist target. Conservatives, naturally, will catch who they can. [Jumping through Dan Rather's hoops.]

The rich and powerful as a whole are now over 2 tillion dollars poorer than they were before Bush came into office. I would imagine that the rich and powerful are ready to take matters into their own hands to punish those responsible. Well they should. If I owned a company and some creep robbed millions from me, there would not need to be a trial. I'd kill him.

Next point. Up until recently, the corporate system appeared to be working very well. During the Clinton administration, there were a few warning signs. Arkansas companies began to expand like yeast rising bread. Tyson Chicken. Walmart. And some bank that later got into legal trouble... NationsBank. [I was one of NationsBank's victims. They used ogre-like graft.] I mentioned this again and again, but few people think anything of it. Arkansas, the unknown state from nowhere, suddenly had three booming businesses that sweep the country.

Then came The Red Sun Rising expose that triggered economic meltdown in China. [Free Congress Foundation] Things were looking pretty sleezy.

The Clintons' symbolism of ethics was also corrosive. Hillary's cattle futures. Hugh Rodham's heading the tobacco lawsuit [later selling a Clinton pardon to a crack dealer.] Hillary's investment into pharmacuticals, just after threatening a major investigation and change.

CONCLUSION: Things were record breaking until recently. We had shocked the world with our success. We must not, MUST NOT, allow too much change to occur, other than simply getting tougher on white collar crime. All we really need is open the windows and allow the foul stench of the 90s blow out of our rooms. And perhaps Florida should quit allowing people to keep multi-billion dollar mansions after filing for bankruptcy.

[bradactor]

Hey, the DemocRATs know what is up and what Harvey Pitt is going to do. That is why they want him out. But I think their number is about to be played out. Cooperation could come on their part but politics is politics and Bush is a political realist and knows that.
Brad

[bradactor]

I don't see him waffling. When Bush spoke today from what I saw, he spoke from the heart. That is when he is at his best and most honest.

Brad

[Sungirl]

The stockholders haven't complained...because the stock was doing good....and because they do not see or understand how the Accounting Principles were abused.............
I think if the stockholders knew they were being led down a false path of success....they will be a little upset. It will all come out sooner or later.
I think it's all about stock prices...if they are up ...(somehow someway)....people are happy ( I remember how everyone praised Clinton for the great economy...all because the stocks were climbing and breaking charts)....but when the crap hits the fan...then they cry and blame Bush.
Maybe we should hold all the stockholders responsible for the misconduct for not looking into that little prospectus more carefully or the financials every year when they recieved it in the mail...

[Twodees]

Maybe we should hold all the stockholders responsible for the misconduct for not looking into that little prospectus more carefully or the financials every year when they recieved it in the mail...

Sure, why not? That matches up pretty well with your other observations on how government should intrude itself into the marketplace because greedy rich people must be stopped. How about we just tell government that they have no legitimate business looking for misconduct without a complaint from citizens with standing to complain?

This sounds like sour grapes from a socialist, especially with your admission that you loved working for a state government, but hate being in the private sector in a right to work state because your employer can fire you. I'll give you a tip: if you want to belong to a union and work in the private sector, you'd be better off getting a manual labor job in manufacturing. Except for government employees' unions, most unions don't represent anyone in management or other salaried positions.

FR isn't a forum where you should expect much sympathy for socialist positions such as yours. Complaining about an employer while cashing his paychecks is the kind of thing a socialist union slacker does. If you want to run your employer down, quit and then complain about him to your heart's content. If you want to applaud politicians when they attack the producers in our economy for violating socialist laws, don't be surprised when you get some criticism yourself. This is a conservative forum, after all.

No offense intended, of course.

[Mudboy Slim]

"Republican Sen. John McCain joined Democratic lawmakers in calling for the resignation of Securities and Exchange Commission Chairman Harvey Pitt..."

When exactly was the last time that McStain did NOT join the RATS in attacking the GOP?!

Whatever happened to that Recall Vote in Arizona?!

FReegards...MUD

[cake_crumb]

"In the run-up to the November congressional elections, Democrats hoped to use the corporate scandals to their political advantage, accusing Bush and his fellow Republicans of spearheading policies that reward corporate greed at the expense of workers and investors."

That's the most critical paragraph of this article. The left-wing of the Senate is manufacturing these "scandals" in order to cover for the fact that they have been blocking critical legislation, including military and homeland security funding, that those institutions will run out of funds in the middle of a war, that the Senate is blocking confirmation of judicial nominees and basically sitting on their thumbs while in session. This is like a lesson in "How to Get Elected Without Doing Anything for Your Constituents."

They will block the legislation proposed by the president today. Mark my words.

While they are busy playing politics and blocking the president at every turn, we the people suffer.

[Redbob]

Every time there's an economic downturn, Washington tries desperately to turn attention away from the Federal policies that have caused it and worsened it, from the EPA regs that prevent domestic oil refineries and prevent oil exploration, to the excessive taxation that motivates companies to locate "offshore" and find other ways to creatively conceal earnings.

Dubya is sounding more like a Democrat every time he opens his yap; I'll just have to return to my mantra:
"At least he's not algore, at least he's not algore, not algore, not algore, Ommmmmmm...."

[cake_crumb]

"Capitalism doesn't have anything to do with what these criminals are doing to large corporations. It's opening theft protected by high priced lawyers and loopholes in the bankrupcy laws which allow you to be a billion dollars in debt but keep your mansion in Boca Raton"

Right. For nearly a decade, corperate crooks have been taking advantage of the Clinton/Gore mantra, "No Controlling Legal Authority." The Senate will block President Bush's proposed legislation, because they can get LIGHTYEARS worth of political mileage out of KEEPING it that way. That's all they care about: politics. Not people.

[Redbob]

"WHat is wrong with this picture? I had to work another hour again today for FREE to make up for the loss of employees.....

I just found out Florida is a RIGHT TO WORK state? What I was told was basically no unions allowed and employees have no rights....??"

You have the right to leave that job and take another one elsewhere.
You have the right to relocate to another place where jobs are more plentiful.
You have the right to educate yourself for a better job, or one in another field.

If you fail to exercise these rights, how does this become a Federal government issue?

[cake_crumb]

OH...and I forgot to add that after the president's speech to Wall Street, the Senate will begin chanting "It's not enough, benefits corperations, no real protection for workers," etc. They will break up the monotony of that chant with snide references to the president's past business dealings....which they never did with Hitlery, not even when she was cought red handed, shredding the evidence of Whitewater.