Bob thanks for the welcome! I have had two careers in 20 years of working. The second was during Clintonís tenure, when I started my company. If you
look at the economic philosophy applied across his presidency, he was a fiscal conservative and to the right of Liberal on most everything else. After
seeing him pilloried in the media, I started to educate myself from divergent news sources ( international papers online, Columbia Journalism review,
Harvard Law Journal, and of course web searches) trying to find out why this president whose policies helped so many different strata in our society
was catching such a raw deal. Here's the more you asked for:
Stopping Auditor-Consulting Conflicts by Accountants
Clinton Securities and Exchange Commission Chair Arthur Levitt, Jr. proposed regulations to prohibit accounting firms from simultaneously serving as
consultants and auditors. Arthur Andersen and other accounting firms mounted a massive lobbying campaign against the Clinton-Levitt regulations,
killing them. The lead lobbyist for the accounting firms was Harvey Pitt (Ivan Boeskyís personal lawyer). After being sworn in as President, George
W. Bush named Pitt chair of the Securities and Exchange Commission.
Greater Disclosure of Energy Derivatives
Clinton Commodities Futures Trading Commission Chair Brooksley Born proposed greater regulation (by way of more stringent disclosure) of energy
derivatives, the key financial instrument in Enron's Ponzi-scheme empire. Her proposal was beaten back by House Republicans, including then-House
Banking Committee Chair Jim Leach (R-IA) who scolded her for two hours at a hearing.
Cracking Down on Tax Havens
Clinton Treasury Secretary Larry Summers proposed a crackdown on tax havens such as those used by Enron. With the US co-chairing the OECD's Forum on
Harmful Tax Practices, Summers crusaded for a crackdown on money-laundering and tax havens. His proposal was opposed by the GOP Congress. When the
Bush Administration took office, Treasury Secretary Paul O'Neill abandoned Summers' crusade, telling the Wall Street Journal, "The government has
not been respectful of the cost it imposes on society." The New York Times reported that Bush's top economic adviser, Lawrence Lindsey (a former
economic adviser to Enron) also opposed efforts to crack down on tax havens.
Protecting Investors and Shareholders
On December 20, 1995, President Clinton vetoed the Public Securities Litigation Reform Act, which would have restricted lawsuits against corporation
accused of securities fraud. In his veto message, Clinton presciently noted that while he supported the notion of reducing frivolous lawsuits: "I
am not, however, willing to sign legislation that will have the effect of closing the courthouse door on investors who have legitimate claims. Those
who are the victims of fraud should have recourse in our courts. Our markets are as strong and effective as they are because they operate -- and are
seen to operate -- with integrity. I believe that this bill, as modified in conference, could erode this crucial basis of our markets' strength."
The GOP Congress overrode Clinton's veto.
In a word, PLUTOCRACY! Now Iíve been accused of being a ëfilthy capitalistí by a neo-hippie niece, but these guys are so out of touch itís scary. The
non-partisan Center for Public Integrity has revealed just how plutocratic and out of touch the Bush Administration is.
The study shows not only that the Bush Administration is basically run by corporation-friendly multi-millionaires, but that real and potential
conflicts of interest abound in virtually every key executive agency.
The study also emphasizes that the Bush Administration stands in marked contrast to its immediate predecessor.
--The average net worth of 15 of the top Bush cabinet officials, including the President and Vice President, in 2001 was between $9.9 and $28.9
million -- more than ten times the average net worth of the cabinet officials who were their immediate predecessors in the outgoing Clinton
--Overall, the average net worth of the top 100 members of the Bush administration was somewhere between $3.7 million and nearly $12 million.
--Overall, 22 of the top 100 Bush officials had significant holdings in 33 companies that lobbied their departments, agencies or offices.
--Overall, 20 of the top 100 officials in the Bush administration work in departments, agencies or offices that their former, private sector
employers lobbied or from which they sought federal contracts in 2001.
Harken: Bush as an officer and part of the Boards Audit committee ( 3 person) lead Harken Energy in using the same Ponzi schemes as Enron.
On Cheney: Itís a straw man argument on the sale of his stock in Halliburton, I have no qualms with him doing what every other politician has done to
avoid conflicts of interest, hell, Rumsfield sold $91 MILLION in stock last year. Itís these two deals he brokered that are of issue: 1) During his
tenure as CEO, he sold $24M worth of nuclear plant equipment to Iraq in 1998 through a subsidiary to avoid the ëtrading with the Enemyí type sanction
US firms are obligated to respect. 2) Dresser Industries merger ñ he defrauded Halliburton share holders by assuming the massive debt of Dresser from
asbestos litigation. Due Diligence as a corporate officer, THE corporate officer, was sidelined by cronyism to the Bush family and their favorite
company: GHW Bush got his start with Dresser, idolized Dresser so much he named his son Neil after him.
War sucks, especially unjustified ones like our country has fought since WWII. So getting a military deferment like Clinton, Dick Cheney, Trent Lott,
John Ashcroft, Dennis Hastert, Dick Armey, Tom Delay, Newt Gingrich, Karl Rove, and Phil Gramm I can excuse, too a certain extent ( very, very small
that it may be). But when you ARE in uniform, going AWOL during war time should catch you a bullet in the head, not a country club gig like Bush and a
trip to New England to fake a degree ( guess itís a cheerleader thing, huh?(
) . That also requires the above group, with the exception of
Clinton, no damn right to smear veterans like John McCain, Chuck Hagel, John Kerry, and Al Gore, ALL of whom received medals for their service during
Vietnam, in order to advance their ëchickenhawkí agenda.
If you go to Newsmax or the Drudge report or Rush online or Fox news, youíll be fed that the media is liberal. Detach & step back: the Media is BIG
BUSINESS, dependant on advertising revenue, and the ONLY entities that can pay that piper for the dance is CORPORATE BIG BUSINESS. Big Business is NOT
LIBERAL. Jack Welch had all his news entities ëcall ití for Bush very prematurely and Fox News is run by a former Bush Campaign manager. Look, Global
Media Giants have complete ownership of the global market and promote commercial values, while denigrating journalism
and culture not conducive to the immediate bottom line or long-run corporate profits. Period. Look at the tremendous industry & career that sprang up
around Clinton bashing that continues to this day. News stopped being ënewsí a long time ago; itís all pundits and entertainment now.
More to comeÖ.