it has been almost a week since President Bush went to Wall Street to present his plan to curb executive greed and corporate misgovernance. The response, unfortunately, has been pretty underwhelming. The markets dropped by several hundred points day after day after day. The press and the American people have openly questioned the President's commitment to real change. Even Wall Street workers who attended the speech, mostly Bush supporters, wondered aloud about how much of the speech was just politics and how much was about real change. Why was this speech so poorly received? One, because so many officials in the Bush administration are themselves former corporate CEOs, lawyers, and accountants who lack the moral authority or the will to change corporate practices, or even to enforce current law. Second, because in the middle of the current crisis, the President and the Vice President, both former oil company CEOs, have been forced to answer questions about their own ethics and business practices in the private sector. Third, because, despite his rhetorical calls for corporate America to clean up its act, President Bush continues to oppose real reform on Capitol Hill.
Editor's note · Context
Addressing President Bush's plan to address corporate governance and executive greed.
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