Monday, July 08, 2002

John McCain, in this morning's NY Times, calling for corporate reform:

In a string of corporate failures and scandals from Enron to WorldCom, we have seen the first principles of free markets — transparency and trust — fall victim to corporate opportunists exploiting a climate of lax regulation. I have long opposed unnecessary regulation of business activity, mindful that the heavy hand of government can discourage innovation. But in the current climate only a restoration of the system of checks and balances that once protected the American investor — and that has seriously deteriorated over the past 10 years — can restore the confidence that makes financial markets work.

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