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 8/28/2008

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President Bush speaks to business leaders of the Association for a Better New York (AP)
President Bush speaks to business leaders of the Association for a Better New York (AP)

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Bush is gonna geddem: the evil-doers of Wall Street. And he went to Wall Street to tell 'em, the days of crony capitalism are over. No more Enrons, no more WorldComs, or so goes the theory.

There are new rules in the business world, and the old rules won't be broken anymore. For those who tinker, the punishment will be brutal. Fudge, and you'll feel the SWAT teams breathing down your white collared necks.

The speech was meant to put brass and flunkies alike on notice and to instill a new confidence in the public. But somehow, the market continued to slide, and from all around, critics cry, "not enough." Bush may find he has taken on too powerful an enemy, and worse, declared war on a friend. Pinstripes and Prison stripes, doing the Wall Street shuffle.
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Related Links

Listen to President Bush's speech

Summary: a New Ethic of Corporate Responsibility (from the Whitehouse)

Whitehouse corporate responsibility portal page

On Slate.com, "Harken Hipocracy"

Steven Pearlstein's analysis, in the Washington Post
 



Philip Heymann, Professor of Law at Harvard University, and former Deputy U.S. Attorney General under the Clinton administration

Clifton Leaf, assistant managing editor at Fortune Magazine. and author of the article "Enough is Enough."

Lynn Turner, former SEC chief accountant for U.S. Securities and Exchange Commission.

Clifton Leaf, "A drop in the bucket" listen
"The SWAT team is the phoniest name for a coordinating group of cabinet level officials that I have ever seen." listen
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