PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neocon who wrote (425590)	7/11/2003 10:49:54 AM
From: Skywatcher	Read Replies (1) of 769670

This seems COMPLETELY WRONG>>>>>Publicans on the take again and again and again.... in addition, W's little buddy's company....ENRON now says only .20 on the dollar for the 67 BILLION owed to creditors...... House Panel Votes to Limit States' Policing of Wall Street A bill that would sharply limit the power of state securities regulators to police and penalize wrongdoing by brokerage firms and their employees was approved by a subcommittee of the House Financial Services Committee yesterday... "It's sweeping pre-emption of the worst sort," said Barbara Roper, director of investor protection at the Consumer Federation of America. "It says that the things the states do on a day-to-day basis to protect investors they can no longer do." Mr. Spitzer deplored the bill, calling it "an absolute, outright betrayal of the small investor." As Ms. Roper pointed out, state regulators have for decades been the first to arrive on the scene of an investment crime. They were ahead of federal regulators in shutting down brokerage firms that sold largely worthless penny stocks in the mid-1990's and in alerting investors to the perils of day trading and buying stocks on margin during the market mania of 1999. And the S.E.C. took no action to protect investors from the biases among stock analysts that emerged so graphically last year in documents subpoenaed by Mr. Spitzer from Wall Street. nytimes.com.

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