Greenspan wants crackdown on CEOs
Federal Reserve Chairman Alan Greenspan expressed optimism Tuesday about the health of the U.S. economy, but acknowledged that corporate scandals had indirectly hurt business spending and called for tougher penalties for CEOs who break the law.
His words seemed to have a positive effect on Wall Street -- which probably hung on his words even more than it usually does -- amid a stubbornly bearish market ruled by fears about corporate accounting.
"The U.S. economy appears to have withstood a set of blows -- major declines in equity markets, a sharp retrenchment in investment spending, and the tragic terrorist attacks of last September -- that in previous business cycles almost surely would have induced a severe contraction," Greenspan said in his remarks to lawmakers. [CNN]
The question remains...does this administration (so deep in scandal and prior business dealings) have the ability or the intellectual honesty to deal with this mess? So far the answer is no!...mj
12:52:50 PM 
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