A front page article in today's New York Times has made me wonder about my sanity. Actually, it makes me wonder about the sanity of the Bush administration. Could I really be reading the words I'm reading? The headline says, "Businesses Seek New Protection on Legal Front". You have to be a registered with the NY Times to read it, I'm afraid. But the first two paragraphs are telling:
Frustrated with laws and regulations that have made companies and accounting firms more open to lawsuits from investors and the government, corporate America - with the encouragement of the Bush administration - is preparing to fight back.
Now that corruption cases like Enron and WorldCom are falling out of the news, two influential industry groups with close ties to administration officials are hoping to swing the regulatory pendulum in the opposite direction. The groups are drafting proposals to provide broad new protections to corporations and accounting firms from criminal cases brought by federal and state prosecutors as well as a stronger shield against civil lawsuits from investors.
What are the Bushites thinking!?!? Skilling (the Enron honcho) was just put in prison for 24 years for his nefarious actions in that company. And it was the Enron fiasco, foremost among several corporate misdeeds, that influenced the government to toughen the rules on corporate activities. The Bush administration was right in there working for the tougher rules. Here's an article about some Bush proposals in 2003 for new regulations controlling business accounting practices.
That's why my brain is doing flips when I see that now they're ready to loosen the regulations. Don't they know that corporations are going to screw folks over again? Those regulations are all that protect us regular folks from getting ripped off by the baby Enron clones out there today.