[Congressional Record Volume 148, Number 93 (Thursday, July 11, 2002)]
[House]
[Page H4503]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        CORPORATE RESPONSIBILITY

  (Mr. KINGSTON asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KINGSTON. Mr. Speaker, when I was selling football programs at 
the University of Georgia back when I was in junior high, I was robbed 
once. Two older kids beat me up and took about $100. I felt humiliated 
and violated. Victims of crime, and I have talked to many victims of 
crime, it is a very personal thing.
  But yet when somebody steals a worker's pension plan, their 
retirement money, or cooks the books and devalues the stock, there is 
no difference. In fact, I would say the criminals who come out of the 
closet and beat their victims up and take their money are, if anything, 
more noble than corporate CEOs who do this behind the books of 
accounting procedures and fancy talk, and certainly do not follow the 
general accounting principles.
  That is why this House on April 24 passed corporate accountability. 
There is no difference between ethics and business ethics. Businesses 
have to operate with honesty and integrity. We need that in society. 
Too many widows and orphans are counting on their stock to be the value 
they claim it is worth. That is why people buy it in their retirement 
account.
  I am glad that the Senate is moving on this legislation. We passed it 
out of the House 3 months ago, but let us get it to the conference 
committee so we can address corporate accountability. America needs it. 
Business integrity is important for the prosperity of our country.

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