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Department of Homeland Security, Meet Government Bureaucracy
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Press Release

Department of Homeland Security, Meet Government Bureaucracy

This Week – Homeland Security continues to dominate the House as nearly a dozen committees submitted their suggestions to a Select Committee that is working to create a bill implementing President Bush’s vision of a new Department. In the meantime the House is also moving through the Appropriations bills. This week they expect to have four on the floor – Interior, Agriculture, Legislative Branch and Treasury, Postal.

07/15/2002
Can Washington Boost Investor Confidence?
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Press Release

Can Washington Boost Investor Confidence?

Washington loves a crisis, and the recent spate of corporate misdeeds has the city buzzing with a sense of urgency or the need to “do something.” Unfortunately, much of the concern appears driven by political posturing rather than an insightful examination of the accounting standards that govern corporate behavior. While the crisis in corporate governance is real, a rash attempt to fix the problem through more regulation may do more harm than good. Grandstanding politicians may harangue their counterparts in corporate America, but they actually have more in common than they would care to admit: exploiting opportunities for personal gain rather than seeking to serve the public.

07/09/2002
Accounting for Misunderstanding
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Press Release

Accounting for Misunderstanding

In the swirl of the political drama that has engulfed Washington, D.C. it seems that some of our nation’s leaders have forgotten, or do not know, that accounting deceptions are not responsible for business failures. On the contrary, accounting gimmickry, duplicity, and outright fraud are used to conceal them. Thus it seemed a bit odd when Senator Tom Daschle (D-S.D.) and Rep. Richard Gephardt (D-Mo.) appeared Tuesday with former employees of Enron and WorldCom to announce their plan for an “Investors Bill of Rights” to expand government oversight of corporate governance, accounting, and pensions.

07/09/2002
Moral Character and Proper Incentives
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Press Release

Moral Character and Proper Incentives

Does anyone in America want their kid to grow up to be just like Ken Lay, Bernie Ebbers or Jeffrey Skilling? Hopefully, after the civil suits strip these and other corporate thieves of their stolen wealth and criminal courts make them spend real time in a real jail, the lasting price these people will pay is that their names are forever synonymous with sleaze.

07/09/2002
Outraged, or Just Confused?
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Press Release

Outraged, or Just Confused?

The president has expressed outrage at the disclosure that WorldCom misreported expenses by nearly $4 billion over the past 2 years and demands “full investigations” and that any wrongdoers be “brought to justice.” At his behest, the Securities and Exchange Commission (SEC) has subpoenaed documents and filed a fraud claim in the civil courts. The Justice Department has begun a criminal investigation for potential illegality on the part of WorldCom executives. Both actions are consistent with the law enforcement functions of both agencies.

07/02/2002
July Townhall Meetings
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Press Release

July Townhall Meetings

Congress adjourned last Friday for its weeklong July 4th recess. Since many Representatives use this time to spend time in their districts, this means that it is a perfect opportunity for you to seek them out and find out their stances on key issues. For your convenience we have assembled a list of district town hall meetings. This list is by no means comprehensive and Representatives and Senators may be holding meetings with their constituents that are not on this list. If your representative or senator’s name does not appear, please contact their district offices to find out when they are making public appearances or to schedule a meeting.

07/02/2002
WorldCom Too Big to Fail, Chief Says
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WorldCom Too Big to Fail, Chief Says

BY Jube Shiver

WASHINGTON -- Discounting predictions that WorldCom Inc. might file for bankruptcy protection, Chief Executive John W. Sidgmore said Tuesday that the second-biggest U.S. long-distance telephone carrier is too big to fail and that it remains a "key component of our nation's economy and communications infrastructure." Sidgmore, in his most extensive public remarks since WorldCom disclosed last week that it uncovered a major accounting fraud, pledged full cooperation with federal regulators and said the company is working with its lenders to avoid a bankruptcy filing.

07/02/2002
Policy Derailment
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Press Release

Policy Derailment

This week, Congress is expected to give Amtrak an emergency $210 million loan to keep the floundering passenger rail monopoly out of bankruptcy. Although unfortunate for both taxpayers and intercity rail passengers, this expected development is illustrative of not only how indiscriminately policymakers spend tax dollars, but also how short-term solutions aimed at protecting special interests take precedence over comprehensive policy initiatives.

06/25/2002
Regulatory Rollback?
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Press Release

Regulatory Rollback?

Recent reports that the Bush administration has eased the standards for New Source Review and that the Office of Management and Budget is looking to work with the EPA as it drafts new rules for soot have many in the environmental community crying “regulatory rollback.” Proponents of command-and-control regulation imply that any reform measures are letting polluters off the hook and turning the clock backwards. In reality, it is becoming increasingly evident that many federal regulations provide little or no benefit to the public. Outdated or unnecessary regulations do, however, raise consumer prices, threaten American jobs, and reduce the competitiveness of American firms in a global economy.

06/18/2002
The Whole Government Needs Restructuring
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Press Release

The Whole Government Needs Restructuring

“What I am proposing tonight is the most extensive reorganization of the federal government since the 1940s … The reason to create this department is not to increase the size of government, but to increase its focus and effectiveness.” President George W. Bush

06/11/2002

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