Charlestowne Premium Beverages Inc. (FPWM)

[catchet]

luvthemtrainz, Roosevelt made Joseph Kennedy the head of the SEC in the 1930s to reform it as much as it could be at those times. Not enough but something. Mostly the problem of never enough financing and staffing for the SEC. But also the different policies of the democrats vs Republicans. Reagan turned the clock back and made abuses that much more easier again. And one of the persons that fought all Clinton’s reforms for the republicans and financial system, Harvey Pitt, was made the SEC chief by Bush Jr. Then followed by a fellow skull and bones member William Donaldson. Can we even trust Kerry as a fellow Skull and bones alumni? This article excerpt is a little bit on the Reagan and Bush abuses.
(I only have 3 posts a day. Keep it like that)
From
http://liberty.hypermart.net/editorials/Republican_Greed.htm
How Republican Greed Sank the Economy
July 12, 2002 thepeoplesvoice.org

Posted by the EDITOR

It is no accident that the current wave of costly corporate scandals followed the rise of modern conservatism to political power two decades ago. Ronald Reagan governed while denigrating government as "the problem, not the solution." He starved agencies of resources and placed committed ideological opponents in charge of them. Reagan's Commerce Department drew up a hit list of regulations resented by business ("the Terrible 20"). And of course Reagan signed the law that deregulated the savings and loans associations, while his appointee revoked requirements that any S&L have 400 shareholders. The resulting infamies cost taxpayers many billions.

"Regulatory agencies have run amok and need to be reformed," said Rep. Tom DeLay of Texas, the House majority whip, as he invited business lobbyists to detail the regulations they wanted gutted. A centerpiece of Gingrich's Contract With America was "securities reform." Passed in 1995 over President Clinton's veto, the bill shielded outside accountants and law firms from liability for false corporate reporting, and made it more difficult for shareholders to bring suit against fraudulent reporting. A flood of corporate misstatements has followed, with nearly 1,000 companies restating misleading reports in the past five years including Enron and WorldCom,

Then there were the compromised auditors of Enron and WorldCom, paid lucrative consulting fees from the companies they audited. In the 1990s, Clinton's SEC chairman, Arthur Levitt, waged a long and bitter campaign to ban this basic conflict of interest. The accountants' lobby -- led by one Harvey Pitt – (my aside - later made SEC head by Bush, followed by a fellow skull and bones member) blocked the reforms, with Republicans Billy Tauzin in the House and Phil Gramm, threatening to gut the SEC's budget if Levitt went forward.

On July 9, 2002, President Bush went to Wall Street to call for several specific reforms in response to the recent corporate responsibility scandals. However, many of his plans have already been proposed by Democrats in Congress - and shot down by Bush's fellow Republicans. The following is a list of reforms that the House Republicans have
already rejected. ....................
.....................