Political Quotes

On the recordJuly 12, 2002
on Tuesday of this week President Bush gave a major speech on his administration's plans to curb executive greed and corporate misgovernance in America. Why, one should ask, was the President's speech so poorly received? Why did the market drop several hundred points in the 3 days since the President gave his speech, including a couple of hundred points actually the same day that he delivered the speech on Wall Street? Why did so many Wall Street workers who attended the speech ask afterwards how much of this speech was just politics and how much of it is about real change? Despite the President's calls for corporate America to clean up its act, President Bush, at the behest of his corporate sponsors, continues to oppose real reform on Capitol Hill. He has refused to support meaningful pension and accounting reforms, even though a bipartisan bill just passed the other House. He will not support other legislation to halt offshore tax avoidance. His budget severely underfunds the SEC; and to make matters worse, the President has pushed to turn Medicare over to the health insurance industry, which brought us HMOs and has brought us disaster in many, particularly rural, communities around the country. Why is all this happening? Why would all this be? It is pretty simple. The President and Republican leadership have invited corporate interests into the inner sanctum of government to help them run this country.
Said by
Sherrod Brown
Democratic · Ohio

Editor's note · Context

Addressing President Bush's speech on corporate governance and the market's negative reaction.

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