[Congressional Record (Bound Edition), Volume 148 (2002), Part 9]
[House]
[Page 12241]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            CORPORATE FRAUD

  (Mr. BROWN of Ohio asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BROWN of Ohio. Mr. Speaker, today, President Bush gave a major 
speech on corporate responsibility. He tells us he is going to get 
tough on those who have misled and defrauded shareholders in violation 
of Federal law.
  This could be a tough sell, considering the President's own record as 
a businessman. Yesterday, the President was still trying to explain 
why, in violation of Federal law, he failed to report his 1990 sale of 
$850,000 worth of stock in a Texas-based energy company just weeks 
before its value plummeted. Earlier he said he thought the regulators 
lost the documents. Last week, the White House owned up and blamed it 
on Mr. Bush's lawyers. Yesterday, President Bush gave maybe the most 
plausible explanation. He said, I still haven't figured it out 
completely. He hasn't figured out how he made $850,000 in a probably 
illegal stock sale.
  As the President spoke in New York today, I thought of the words of a 
civil rights leader who said, ``Don't tell me what you believe. Show me 
what you do; I will tell you what you believe.''

                          ____________________