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www.mikeforster.net Last Updated 3 August 2002 |
Mike
Forster's Position Papers |
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Position Papers |
Bush Is Still Soft on Corporate Governance Mike Forster, Palo Alto California President Bush and Republican leaders continue to weaken government protection for investors from corporate excesses.
Early in his administration, President Bush promised a "friendlier SEC". His administration also sought to reduce the number of SEC examiners. Even the recently-passed federal legislation to strengthen government oversight and penalites for corporate officers has been weakened by the Bush administration's interpretation that weakens protections for "whistle-blowers". In contrast, the Democratic administration of President Clinton sought to strengthen the government's oversight of corporate governance, but was prevented from doing so by the Republican-controlled Congress.
Where might the shareholders of Enron and other companies be, if stronger legislation had been enacted a few years ago? Where might they be if there had been more SEC examiners even as late as Spring 2001? |