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What ? Bush in bed with corporations? Give me a break

You may not want to read this Bobby, there are too many facts for you to understand.

Ummm show me where you get your info that Ken Lay got a free pass. FYI so far 3 out of the 4 top dogs at Enron have been busted so far. Ken Lay is just around the corner. Contrary to your ramblings these things take time to investigate and prosecute.

The Justice Department, SEC and other Task Force members are aggressively responding to the corporate fraud issue . Enron, Worldcom, Adelphia and ImClone are among the cases that are being overseen and directed by members of the Corporate Fraud Task Force.

Since the Task Force was formed in July 2002, investigations have begun into more than a hundred new corporate fraud cases.

More than 150 defendants have already been charged with civil and/or criminal wrongdoing.

Convictions have been obtained or pleas are pending in 46 cases.

Enhanced coordination among civil and criminal authorities is bringing about significant increases in ?real-time enforcement.?

Since the Task Force was created, fully 90% of the prosecutions brought by DOJ for corporate fraud offenses were accomplished with the active assistance of SEC investigators and analysts.

Department of Justice Accomplishments


Since the beginning of the Administration, the Department of Justice has initiated investigation into more than 400 matters involving possible corporate fraud ? including falsification of corporate financial information, self-dealing by corporate insiders and obstruction of justice related to these offenses.

During the same period, more than 500 defendants have been charged with corporate fraud-related offenses. Convictions have been obtained or pleas are pending in more than 200 cases.

SEC Accomplishments


Fiscal year to date, the SEC has filed a record 156 actions for financial reporting and issuer disclosure violations, 51 percent higher than were filed in all of fiscal 2000.

During this same period, the SEC has sought to throw 107 unfit officers and directors out of corporate boardrooms ? almost 3 times the number that were sought in fiscal 2000.

The SEC is aggressively using its enforcement powers to make corporate wrongdoers accountable for their actions. During this fiscal year to-date, the SEC has sought to recover compensation, bonuses and stock options paid to 25 corporate wrongdoers ? that is 39% more than in the prior fiscal year.

The SEC has sought temporary restraining orders, seeking immediate relief to prevent irreparable harm to investors, in 47 cases since the start of this fiscal year, and has sought 57 asset freezes to prevent dissipation of assets that may be used to compensate defrauded investors. Both of these figures reflect more than a 30% increase over fiscal year 2001.

Posted by: Squawkbox   Posted on: 03/10/04 You are currently: a Guest | Members login | Terms of Use

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