27
Jul
2005

Soft on corporate crime

Tom Paine

by Jamie Court

07/26/05

In a better world, the Senate confirmation hearings on the nomination of Rep. Christopher Cox [R-CA] to lead the Securities and Exchange Commission would be the Democratic Party's finest hour. The hearings offer a perfect opportunity to decry Wall Street's looting of Main Street and to put the GOP on trial for creating the conditions under which corporate criminals flourished. Instead, Democrats have been eerily silent on Cox, a right-wing Republican who wrote a 1995 law making it harder for investors to take corporate swindlers to court. Cox's Private Securities Litigation Reform Act, which became law over President Clinton's veto, has been blamed for allowing some of the nation's worst financial scandals -- including those at Enron and WorldCom -- to proceed unchecked...

http://www.tompaine.com/articles/20050726/soft_on_corporate_crime.php


Informant: Thomas L. Knapp
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