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

To: Jim Willie CB who wrote (1735)	7/10/2002 2:18:15 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

<<concluding Pitt of SEC must go>> WHY WON'T BUSH MAKE SOME TOUGH DECISIONS...?? Good CEOs often do what's unpleasant...The SEC has been UNDERfunded by a long shot....Bush wants to give Pitt $100 Million more and spend over $420 Billion this year on defense...The Democratic Sarbanes Bill is calling for more than a 1/2 Billion increase in funding for the SEC -- There are some BIG problems that need to be dealt with and fighting white collar crime is NOT easy...Why don't we have someone like Guiliani running the SEC or a special task force charged with prosecuting 'the Ken Lay's of the world'...? It's time to get tough and its clear that the market was not overly impressed with Bush's speech....Bush talked a lot about the problem BUT failed to outline very comprehensive prescriptive actions to deal with our problem of corporate governance and transparency.

To: Jim Willie CB who wrote (1735)	7/10/2002 2:23:46 PM
From: stockman_scott	Respond to of 89467

Where Are The Indictments? forbes.com There are existing laws about the fraudulent sale of securities waiting to be enforced.

To: Jim Willie CB who wrote (1735)	7/10/2002 2:33:55 PM
From: stockman_scott	Respond to of 89467

Judicial Watch plans to sue Vice President Dick Cheney, Halliburton, alleging accounting fraud Tue Jul 9,11:55 PM ET By TIM REYNOLDS, Associated Press Writer MIAMI - A watchdog group said it would file a shareholders lawsuit against Vice President Dick Cheney ( news - web sites) and his former employer, Halliburton Co., claiming they engaged in accounting fraud. Cheney was chairman and chief executive of the oil field-services giant from 1995 to 2000. Halliburton announced on May 28 that it received notice from the Securities and Exchange Commission ( news - web sites) that the commission was looking into Halliburton's accounting methods — adopted in 1998 — for reporting cost overruns on construction jobs. The SEC has not filed any charges against Halliburton. Before 1998, the company had been more conservative, reporting such revenue only after settling with customers. The Washington-based group Judicial Watch alleges those accounting practices resulted in the overvaluation of Halliburton's shares, deceiving investors. "We're seeking actual and punitive damages for allegations of securities fraud, for changing accounting practices and not advising the public of these changes," Judicial Watch chairman and general counsel Larry Klayman said Tuesday night in Miami. Messages seeking comment from Cheney and the White House were not immediately returned late Tuesday. "We don't believe that there's any merit to this case," Halliburton spokeswoman Zelma Branch said. The lawsuit, which is expected to be filed Wednesday in federal court in Dallas, also names 10 of Halliburton's board members. Klayman said auditor Arthur Andersen LLP will also be named in the lawsuit. Andersen spokesman Patrick Dorton declined to comment. Judicial Watch has sued for access to records of the Cheney-led energy task force that drafted the Bush administration's energy policy.