Maxine Waters said "I believe that as we legislate in this Congress, we must take every opportunity to close every loophole, shut every door, shut down every opportunity for any corporation in America to ever do again what Enron and what appears Global Crossing is doing and has done. I hate to repeat it because I know people do not want to keep hearing it, but I know the stories of Enron employees who had paid into their 401(k)s. They only had $400,000 for their retirement to last them for the rest of their lives. It is gone. It is gone. There is nothing that anybody can say about us being too involved, overlegislating, attempting to micromanage. There is nothing that anybody can say that should keep us from using every opportunity." @ PoliticalQuotes.com

On the recordMarch 13, 2002

I believe that as we legislate in this Congress, we must take every opportunity to close every loophole, shut every door, shut down every opportunity for any corporation in America to ever do again what Enron and what appears Global Crossing is doing and has done. I hate to repeat it because I know people do not want to keep hearing it, but I know the stories of Enron employees who had paid into their 401(k)s. They only had $400,000 for their retirement to last them for the rest of their lives. It is gone. It is gone. There is nothing that anybody can say about us being too involved, overlegislating, attempting to micromanage. There is nothing that anybody can say that should keep us from using every opportunity.

Said by

Maxine Waters

Democratic · California

Source

govinfo.gov

Editor's note · Context

Addressing the need for legislation to prevent corporate fraud during a discussion on financial accountability.

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