yesterday, President Bush gave a major speech on his plan to curb executive greed and corporate misgovernance. Someone should tell the President, actions speak louder than words. Responding to his corporate contributors, President Bush supported weak pension and accounting reform bills in the House. He refused to support legislation to close loopholes that allow American companies to avoid U.S. taxes by moving offshore. He has openly supported the idea of turning Medicare and Social Security over to the private sector. Apparently, the President and his Republican allies in the House believe Medicare would be better run by the health insurance industry, major Republican contributors; and Social Security would be safer in the hands of Wall Street, again major Republican contributors. So my colleagues understand if I view the President's plan to deal with the recent spate of corporate scandals a bit skeptically. To borrow a famous line from a long-ago civil rights speech, "Don't tell me what you believe; tell me what you do, and I'll tell you what you believe."
Editor's note · Context
Criticizing President Bush's response to corporate scandals and his support for corporate interests.
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