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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (1100)	7/1/2002 9:58:04 PM
From: stockman_scott	Respond to of 89467

Crisis in the corner office [The entire article is worth reading] csmonitor.com <<...There is considerable disagreement about the scope of CEO abuses. Last Friday, President Bush said that "the vast majority of our leaders in the business community are honest and upright people." Earlier he used the phrase "some bad apples" to describe the situation. Mr. Paulson of Goldman Sachs takes a middle view. "The overwhelming majority of CEOs, boards, and regulators are men and women of high integrity, competent, and working hard." But he adds, "I certainly don't take the view that this behavior was limited to an isolated few. And I have to say there were more abuses and problems than I would have hoped." The view from outside the corporate community is more stark. "I am convinced it is very widespread. It comes up in many ways in many different companies," says Arthur Levitt Jr., former chairman of the SEC. Paul Volcker, former chairman of the Federal Reserve Board, agrees the misconduct is widespread. "It depends, I think, partly on what industry you are in. But you have a whole profession that has arisen in the past 15 years – so-called financial engineering.... A large part of it is how to get around accounting rules and IRS rules using very abstruse techniques." "We have only seen the tip of the iceberg," predicts Michael Josephson, president of the Josephson Institute of Ethics in Marina del Rey, Calif. "The scope and enormity of the companies that have gone under... make Teapot Dome [a scandal in the Harding administration] look like kindergarten."...>>

To: Raymond Duray who wrote (1100)	7/2/2002 1:58:29 AM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Ray: How credible do you think this article is...?? onlinejournal.com <<...Consider the fact that George W. Bush is the master of the world. His administration consists of the entire Iran-Contra network—Elliott Abrams, Otto Reich, John Negroponte, Colin Powell, Dick Armitage, Asa Hutchinson, and of course, Dick Cheney. Richard Secord is "consulting" in Central Asia. Jeb Bush runs Florida. Narco-trafficker Oliver North is a TV celebrity. General John Singlaub is being paid to make patriotic speeches. Poppy Bush, Frank Carlucci, Jim Baker and the Carlyle Group are raking in millions, and millions more as the American war spreads...>>

To: Raymond Duray who wrote (1100)	7/2/2002 2:00:38 AM
From: stockman_scott	Respond to of 89467

Is Martha a diversion from the bigger fish that should be fried? By Martin Heldt Online Journal Contributing Writer June 29, 2002—Martha Stewart should have known she was in trouble when her guest tore off the shrimp's head and then sucked the tiny beast's legs off. "They're quite edible," he said as we cringed. My wife and I witnessed that taste treat just last week, when Congressman Billy Tauzin, a Republican, was a guest of Martha's TV program. This week the Louisiana congressman is hosting Martha (through her lawyers) as he investigates allegations of insider trading against the too-good-to-be-true Stewart. I wonder, has Billy ever had Dick Cheney or Thomas White over for some Cajun-style BBQ shrimp? Maybe its time he extends a little Southern hospitality and invites them to appear before the House Energy and Commerce Committee he chairs. As vice president and secretary of the Army of the USA, they'd be better cuts to grill than the pale Martha. Like Ms Stewart, Dick Cheney is already being investigated by the Securities Exchange Commission. They are digging into how $100 million was juggled through questionable accounting tricks while Dick was CEO at Haliburton. Billy might want to ask Dick about that. He might also ask about the 10,000 plus employees who lost their jobs as a result of Dick's incredibly bad business decision to merge with a firm liable for millions in asbestos related lawsuits. And, while he has Dick's attention, Rep Tauzin might bring up those pre-Enrongate ads the VP made extolling Arthur Andersen's good advice. I wonder does the vice president still cherish Andersen's advice like Tauzin savors hot sauce? However, while Cheney is certainly grillable, there's no one quite as ready for the shish-kabob as Secretary of the Army White. Mr White—as few of us have heard due to White House secrecy involving the war on terror—was the number two man at Enron Energy Services. This is the Enron division believed to have hidden more than $500 million in losses. But it's not that mountain of juggled debt that I want Congressman Tauzin to stir, I want him to explore how White fooled Wall Street investment analysts into thinking Enron was a good place for you and I to place our nest eggs. In what can only be called a confidence game, White took over an entire floor of Enron's Houston headquarters and filled it with computer monitors, desks and telephones. Then, when business analysts were in town for a tour, Mr. White would sound the alert for every idle clerk, secretary and gopher to dash to the "trading floor," pick up a phone, and act as if they were all-too busy selling energy. I'd love to be invited to that BBQ. I think Martha might even have a few tips for me on what to bring as a gift. onlinejournal.com