[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. EHLERS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. EHLERS. Mr. Speaker, some corporate executives have been lying 
and cheating. They have betrayed their companies, their stockholders, 
their employees, and the public. I am angry about it. They are as bad 
as the previous speaker said, as bad as a street punk who mugs someone. 
It is totally unacceptable behavior.
  At the same time, we have to recognize this is just a small fraction 
of the corporate executives in the country, just as the aberrant 
priests in the Catholic Church are a very small fraction of that 
church. Or the number of Members in this body who are accused and 
convicted of breaking the law are a small number of this body. 
Nevertheless, their behavior is totally unacceptable, and we have to 
take action.
  It is not simply a matter of changing the law or strengthening the 
law, although that may be part of it. What we need is enforcement of 
the law. I am pleased President Bush went to Wall Street yesterday and 
spoke to them about the need for enforcing the law and enforcing 
regulations. We must do that. It is not just a matter of punishment, 
but we also should seek retribution from these highly paid executives 
who have cheated employees out of their 401(k) accounts, who betrayed 
stockholders and reduced the value of the company; and not only that, 
have scared the American public from participating in the stock market.
  Mr. Speaker, it is high time that our Nation take action against 
these individuals, both through regulation and enforcement of the law. 
I hope it happens soon. The American people are angry at this betrayal 
of the free enterprise system. I am angry about it, and we have to see 
that something is done about it.

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