Bush sides with fraudsters against investors and retirees
Bush is a gangster, pure and simple:
President Bush expressed displeasure with a government strategy that would have given plaintiffs' lawyers more leeway to sue over corporate fraud, administration officials said yesterday.
He's siding with the agents of fraud who helped Enron bilk investors and retirees of billions; he's siding against you and me.
And I'm sure this was purely a coincidence:
The dispute will affect a number of other cases, most significantly the long-running efforts by Enron shareholders to recoup their losses. On Monday, the same day Bush shared his views within the administration, the U.S. solicitor general declined to file court papers on behalf of shareholders in the Supreme Court case.
[...]
Experts say the dispute carries major ramifications, potentially resolving whether shareholders are entitled to money from third parties who helped corporate clients commit fraud but who did not themselves make misleading public statements in the process.
I disagree with this assessment, though:
"President Bush thinks that enough people have forgotten what his friends at Enron and on Wall Street did to working people," said Damon A. Silvers, associate general counsel at the AFL-CIO. "I suspect he's mistaken."
Bush doesn't think people have forgotten; he simply doesn't care what the little people think.