"Bush orders pension rules review after Enron woes"
"WASHINGTON, Jan 10 (Reuters) - U.S. President George W. Bush said on Thursday he had ordered government reviews of pension regulations and corporate disclosure rules in the wake of the collapse of energy trading giant Enron.
Bush told reporters that the first review, to be carried out by his secretaries of treasury and commerce and others, would ``analyze pension rules and regulations to look into the effects of the current law on hard working Americans and to come up with recommendations as to how to reform the system to make sure that people are not exposed to losing their life savings as a result of a bankruptcy, for example.''
The second review, of corporate disclosure rules, would be conducted by the Treasury Department, the Securities and Exchange Commission, the Federal Reserve and the Commodity Futures Trading Commission, Bush said.
``In light of the most recent bankruptcy, Enron, there needs to be a full review of disclosure rules to make sure that ... the American stockholder, or any stockholder, is protected,'' Bush said.
The U.S. Justice Department on Wednesday said it had opened a criminal probe into Enron Corp.(NYSE:ENE - news) after the failed energy trading giant collapsed late last year throwing thousands of workers out of work and wiping out investors as well as the life savings of some of its workers."
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