Dodd/Lieberman Joined Repugs to Over Ride Clinton's Veto's

[KoKo]

(Cleaning out some old files on my Computer...I came across this from "ARCHIVES/Blast from Past." How Lieberman and Dodd worked to undermine the SEC and Laws passed after Great Depression (FDR) that led us into the Financial Nightmare of the Bush years.)

* In 1995 Sen. Christopher Dodd (D-Conn.) Joined Republicans To Pass Legislation, Over President Clinton’s Veto, That Shielded Accountants From Investor Lawsuits.
"Corporate law experts and investor advocates say some of the same people who are now professing moral outrage over Enron’s collapse and the $60 billion-plus loss to investors, and who are groping for legislative and regulatory fixes, actually helped create a legal climate for Enron and Arthur Andersen to push the envelope. First, in 1995, the group of lawmakers and lawyers pushed successfully for legislation that shielded companies and their accountants from investor lawsuits. Then, five years later, the group succeeded in forcing regulators to dilute proposed restrictions on accountants. The group includes the current chairman of the Securities and Exchange Commission and three House and Senate committee chairmen now involved in the cleanup who have been among the accounting industry’s largest campaign recipients. . . . The law, passed after heavy lobbying from Andersen, the rest of the accounting industry and Silicon Valley, shielded executives from liability for making dubious financial projections." (Stephen Labaton, "Now Who, Exactly, Got Us Into This?" The New York Times, February 3, 2002) (emphasis added)

* Almost Half Of The Democratic Senate Caucus Sided With The Accounting Industry Over Democratic President Bill Clinton.
"Nearly half of all Senate Democrats voted to defy Clinton on the issue, making it Congress’s only successful veto override of the president during his two terms in office. On the House side, 89 Democrats joined 230 Republicans in voting for the override." (Jim VandeHei and Juliet Eilperin, "Political Caution In Zeal for Reform; Hill Plays Down Its Pro-Business Past," The Washington Post, July 13, 2002) (emphasis added)

* Senator Dodd Sided With His Accountant Supporters, Instead Of President Clinton, And Personally Lobbied House Members To Override Clinton’s Veto.
"The accounting industry’s strong Congressional supporters who wrote the 1995 law included three lawmakers who have now emerged in central roles in investigating Enron and proposing possible new legislation. . . . Mr. Dodd, chairman of the Senate banking subcommittee on financial institutions, was a chief sponsor of the 1995 measure. Mr. Dodd, perhaps the accounting industry’s closest friend in Congress, went so far as to lobby House members personally to approve the legislation over President Clinton’s veto. What made his campaign so politically fascinating was that when he broke ranks with the White House, he was chairman of the Democratic National Committee." (Stephen Labaton, "Now Who, Exactly, Got Us Into This?" The New York Times, February 3, 2002) (emphasis added)

* By Working To Complete The First Override Of A Bill Clinton Veto, Senator Dodd’s Actions Embarrassed The Clinton Administration.
"The Senate voted Friday to override President Clinton’s veto of a bill restricting shareholders’ ability to sue for securities fraud, completing the first veto override of the Clinton presidency. . . . The vote was a particular embarrassment to the president because the Senate defeat was at the hands of the chairman of the Democratic Party, Sen. Christopher Dodd (D-Conn.), who has worked since 1991 on changing securities law." (Robert A. Rosenblatt and Gebe Martinez, "Senate Completes First Override Of Clinton Veto," Los Angeles Times, December 23, 1995)

* A Study By Common Cause Revealed That Arthur Andersen Has Retained A Dozen Prominent Democrats To Lobby On Behalf Of The Accounting Firm.
"Scores of former lawmakers and aides have also spun through this city’s revolving door and into high-paying jobs representing corporations. According to a report just issued by Common Cause, Arthur Andersen retained seven Republicans and 12 Democrats last year to press its case on the Hill, along with two lobbyists who had worked for both parties." (Jim VandeHei and Juliet Eilperin, "Political Caution In Zeal for Reform; Hill Plays Down Its Pro-Business Past," The Washington Post, July 13, 2002)

[gumby]

1. Thanks KoKo01

It's been long ago that I considered Dodd a Kompromise Kitty.

Too bad, so sad.

edit: but why are you posting this? Are you an anti-dem dem? :sarcasm:

[KoKo]

2. lol's....education for Newbies?

Housecleaning often turns up stuff we wish we "hadn't bought" and wonder why we did. That pair of shoes...shirt or blouse.. WHAT WERE WE THINKING when we purchased it?

:D

[KoKo]

3. kick.....