Political Quotes

“I will shortly offer an amendment that stipulates that if there is a major fraud that corporate managers refuse to remedy, the corporate auditor would have to report the fraud to Government regulators. I want to thank Chairman Soloman and Mr. Hall from the Committee on Rules for their effort to support it, and would like to note that the gentleman from Louisiana [Mr. Tauzin] joins me as a cosponsor in offering this amendment. This amendment has passed the House twice, it has the support of the Securities and Exchange Commission and the accounting profession. I would like to note that if this amendment had been the law of the land in the Keating case, the auditor, instead of slinking away when the auditor saw the wrongdoing, the auditor would have been required to bring that to the attention of Government regulators and taxpayers would have been spared considerable liability. Mr. Speaker, I urge my colleagues to support this amendment. The last time it came before the Committee on Commerce it passed unanimously with the support of every member of the committee.”