[Congressional Record (Bound Edition), Volume 148 (2002), Part 11]
[Extensions of Remarks]
[Page 15274]
[From the U.S. Government Publishing Office, www.gpo.gov]




                        CORPORATE RESPONSIBILITY

                                 ______
                                 

                               speech of

                    HON. JUANITA MILLENDER-McDONALD

                             of california

                    in the house of representatives

                        Thursday, July 25, 2002

  Ms. JUANITA MILLENDER-McDONALD. Mr. Speaker, I rise in support of the 
conference report, in support of H.R. 3763, and most importantly in 
support of all those investors, employees, and retirees who have fallen 
victim to the criminal acts of corporate wrongdoers. This report not 
only agrees with, but also adds to the preventions and penalties that 
would be put in place by the Senate passed legislation. We in the 
Congress must take the lead on this issue and protect the everyday 
citizens who have been duped by corporations and their managers, 
through manipulation of the equity markets, into believing that their 
welfare and their life savings are in good hands.
  Corporate Responsibility Standards need to be mapped out so that a 
universal code of conduct is in place to penalize those who have 
committed these crimes, and prevent others from following in their 
footsteps.
  The quick and accurate disclosure of financial information is needed 
to close the loopholes that have allowed these manipulations to occur.
  The re-authorization of the monies needed to reinforce the job 
already being done by the SEC is critical to insure that its 
enforcement and investigation capabilities are top of the line.
  This bill sets the tone for all of these initiatives to be 
accomplished and to put an end to the manipulation of finances, and the 
greed driven practices of those who can only be described as common 
criminals.

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