[Congressional Record Volume 148, Number 103 (Thursday, July 25, 2002)]
[House]
[Pages H5459-H5460]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              HARVEY PITT

  (Mr. DeFAZIO asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DeFAZIO. Mr. Speaker, that was an extraordinary twist on what is 
happening. This is a rare loss for the corporate lobbyist, the White 
House, the Republican House leadership, all of whom stonewalled 
meaningful reform until the public outrage had grown to the point where 
they feared the public more than they feared their corporate 
contributors and patrons.
  This is a good start, this bill. It is not enough. But there are two 
words, two words, that will block any effective prosecution and 
enforcement even under this new legislation. What are those two words? 
Harvey Pitt. The morally, ethically compromised head of the Securities 
and Exchange Commission, their former lobbyist of the same accounting 
firms and security firms that have been defrauding the American people, 
the same lobbyists who fought all these reforms, he is the person 
chosen by President Bush as the best person to head up this new effort 
to get tough on corporate crime. Out of 270 million people in the 
United States of America, there is not one person

[[Page H5460]]

who is knowledgeable who is not totally compromised like Mr. Pitt? The 
President must replace Mr. Pitt if we are going to really get tough 
about corporate scandals and get a real reform.

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