Joe Lieberman: “I want to talk briefly today about how America got caught in the current quicksand of corporate scandal and how we can…”

“I want to talk briefly today about how America got caught in the current quicksand of corporate scandal and how we can help dig our economy out of it. Our economy is in trouble today not because we have a shortage of parts, labor, or ingenuity, but because the American people have a shortage of confidence in the basic mechanics of the marketplace. Every new corporate scandal jostles our markets with the force of a jab or an uppercut. If the punches keep coming and we don't react, our economy will get even wobblier. It may even get knocked down. Investors are shaken. They don't know what's real anymore. Trust has eroded. The stock exchanges are suffering. These are serious problems that demand a serious response, which is why I strongly support Senator Sarbanes' legislation to reform accounting oversight and strengthen corporate accountability. A vote for it is a strong vote of confidence in the American economy. And the President's failure to speak out in favor of it, in my view, sends the wrong message to our markets.”