Political Quotes

On the recordMay 22, 2002
The other reason that I bring it up is I was with a group of business people on Monday, and we both know how business people complain about rules and regulations. They said, Are you guys doing anything to lift the burden of rules and regulations? I basically said to them, as long as we continue seeing headlines like this, and I do not know how many of the energy companies were involved in this round-tripping, but I think a number of them; but as long as we keep seeing headlines and stories like this, the role of Congress is probably disappointingly going to have to be to put more rules and regulations in place, rather than fewer, because there are some businesses and some business leaders who have decided that they are going to push the envelope as to what is 'technically' legal, although it is clear that the end result is that they are presenting information that does not clearly represent the condition of their business and the volume and the activity or the health of their company at a given time, and I can only deduce that it is being done to deceive investors, customers and shareholders; and it is outrageous.
Said by
Pete Hoekstra
Michigan

Editor's note · Context

Discussing the need for more regulations in response to business practices that mislead investors.

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