| 00:00:01 |
Unidentified Speaker, -
AND JUDICIAL STUDIES WHICH IS CHAIRED BY FORMER ATTORNEY GENERAL ED MEESE. ON BEHALF OF THE HERITAGE FOUNDATION AND OUR COSPONSORS, THE NATIONAL ASSOCIATION...
|
| 00:00:15 |
Unidentified Speaker, -
MY PLEASURE THIS AFTERNOON TO WELCOME TO YOU OUR EVENT AND TO INTRODUCE OUR MODERATOR ON THE SUBPRIME MELTDOWN, FORMER ATTORNEY GENERAL DICK THORNBURGH....
|
| 00:04:00 |
Unidentified Speaker, -
MARKET MELTDOWN, BUT WE RECOGNIZE THAT DURING THIS POINT IN TIME THE MASTERS OF THE UNIVERSE CONCOCTED A SERIES OF PRODUCTS WHICH ARE NOW PART OF OUR...
|
| 00:07:14 |
Unidentified Speaker, -
THAT HAVE SUGGESTED THAT THERE'S BEEN A FAILURE BY A NUMBER OF DIFFERENT CONSTITUENCIES EFFECTIVELY TO HAVE FORESEEN WHAT I HAVE CHARACTERIZED AS THE...
|
| 00:16:12 |
Unidentified Speaker, -
IS DECLINED BY A GOVERNMENT ENTITY THAT IT'S TANTAMOUNT TO ISSUING THE GOOD HOUSEKEEPING SEAL OF APPROVAL TO THE ACTIVITIES THAT UNDERLAY THE INVESTIGATION...
|
| 00:17:46 |
Unidentified Speaker, -
ARE WITH RESPECT TO THE TOPIC THAT'S BEFORE US TODAY. THE CURRENT FINANCIAL CRISIS HAS VERY STRONG ROOTS IN PUBLIC POLICY. WE DON'T WANT TO FORGET...
|
| 00:31:17 |
Unidentified Speaker, -
AND THAT MIGHT BE THE S & L CRISIS IT, MIGHT BE ENRON, IT MIGHT
|
| 00:31:23 |
Unidentified Speaker, -
BE SUBPRIME OR FINANCIAL TSUNAMI, INSERT CRISIS HERE. IN THE SECOND SCENE, YOU HAVE EXECUTIVES EXECUTIVES HOLED UP IN COLLATERAL AND SOMEBODY IS UP ON...
|
| 00:37:12 |
Unidentified Speaker, -
INVESTIGATIONS. THESE ARE NOT INVESTIGATIONS THAT ARE MADE THROUGH BREAKING DOWN THE DOOR AND SEIZING THE EVIDENCE. THEY ARE INVARIABLY FOLLOWING...
|
| 00:38:36 |
Unidentified Speaker, -
FIND OUT WHO'S RESPONSIBLE AND FOR WHAT AND BRING THE CASES. AND AGAIN, THE DISTINCTION BETWEEN A PARTICULAR COMPANY AND ITS FAILURE AND REEXAMINING...
|
| 00:41:00 |
Unidentified Speaker, -
ABROAD, AND THE CONSEQUENCES HERE. IT IS TRULY INTERNATIONAL. IT IS POSSIBLE THAT WE COULD SEE LAWSUITS START FROM FOREIGN COUNTRIES AND GOVERNMENTS TAKING...
|
| 00:41:40 |
Unidentified Speaker, -
EXPANSIVE USE OF U.S. LAW IN
|
| 00:41:42 |
Unidentified Speaker, -
OUR COURTS, AND YOU CAN IMAGINE THE HURLY BURLY GOING ON IN THE RUSSIAN COURTS. DO YOU WANT TO ADD ANYTHING AT THIS POINT? >> IT JUST GOES TO SHOW YOU...
|
| 00:42:14 |
Unidentified Speaker, -
HAPPENED OVERSEAS AND TRYING TO CRIMINALIZE IT HERE, NOT CONTENT WITH CRIMINALIZING BEHAVIOR IN THE UNITED STATES, AND GIVEN HOW INTERLOCKED OUR ECONOMIES...
|
| 00:42:56 |
Unidentified Speaker, -
BUBBLE BURST. BILL, DO YOU HAVE ANY THOUGHTS? >> YEAH, I MEAN, LOOK, THE REMARKABLE THING ABOUT SARBANES OXLEY IS IT WAS -- SARBANES-OXLEY IS IT WAS...
|
| 00:43:20 |
Unidentified Speaker, -
2001. BILL POWERS ISSUED HIS REPORT FOR THE SPECIAL COMMITTEE OF THE BOARD ON FEBRUARY THE FIRST OR SECOND, WORLDCOM ANNOUNCED IN JUNE THE BEGINNING...
|
| 00:46:25 |
Unidentified Speaker, -
THE REGULATORY STATUTE WHICH
|
| 00:46:27 |
Unidentified Speaker, -
IN ITS FIRST YEAR ACTUALLY REDUCED PERSONAL INCOME. YOU CAN SEE, MAYBE WE FULLY PRICED IN SARBANES-OXLEY NOW, IT'S ALL TOGETHER POSSIBLE, BUT WE HAVE...
|
| 00:47:50 |
Unidentified Speaker, -
COMPANIES. BILL MAY BE RIGHT AND WE CAN CERTAINLY DEBATE WHETHER SOME OF THOSE REGULATIONS WERE GOOD IDEAS OR BAD IDEAS, BUT I APPLAUD THE EFFORT OF...
|
| 00:50:35 |
Unidentified Speaker, -
OUT WITH REGARD TO THE VENERABLE ATTORNEY-CLIENT PRIVILEGE AND THE RIGHT TO COUNSEL ON THE PART OF DEFENDANTS. I THINK THAT PLAYS INTO THIS WHOLE KIND...
|
| 00:51:08 |
Unidentified Speaker, -
ORIGINAL ITERATION WAS THAT YOU WOULDN'T GET PUNISHED FOR NOT WAIVING THE PRIVILEGE BUT YOU GET CREDIT. IF YOU'VE MADE MISTAKES, YOU SHOULD COME, YOU...
|
| 00:54:30 |
Unidentified Speaker, -
ANY OF YOU THAT WANT TO SHARE ANY INSIGHTS YOU MAY HAVE, OR QUESTIONS THAT YOU HAVE WITH US, IF YOU'LL JUST IDENTIFY YOURSELF TO THE MAN -- THE YOUNG...
|
| 00:55:09 |
Unidentified Speaker, -
ELECTION BUT HOPE SPRINGS ETERNAL. >> SO IT'S STILL STALLED IN THE SENATE, AND IS IT STRONG ENOUGH IN YOUR VIEW TO FIX THE PROBLEM? >> LET'S WAIT AND...
|
| 00:55:17 |
Unidentified Speaker, -
LOOKS LIKE, I GUESS. I THINK IT IS STRONG ENOUGH, BECAUSE IT OPERATES ACROWS THE BOARD THE CHANGES THAT BILL MCLUCAS REFERRED TO THAT HAVE BEEN MADE...
|
| 00:55:32 |
Unidentified Speaker, -
TO ANY FEDERAL INVESTIGATION. YES, SIR. >> BOBBY
|
| 00:55:36 |
Unidentified Speaker, -
BASSER, HOUSE JUDICIARY STAFF. I'M CONFUSED AS TO THE GIST OF THE CONCERNS EXPRESSED. I CAN UNDERSTAND THAT YOU'RE SUGGESTING WE SHOULDN'T ADD TO THE...
|
| 00:55:57 |
Unidentified Speaker, -
CRIMINAL LAW. AN EASY RESPONSE IS IF YOU'RE INNOCENT, YOUR INNOCENCE WILL BE MAINTAINED, BUT I CAN UNDERSTAND CERTAINLY YOU WOULDN'T WANT SOMEONE...
|
| 00:57:34 |
Unidentified Speaker, -
CONDUCT WILL OF. -- WILLFUL. IN THESE SITUATIONS WHERE YOU HAVE A MASSIVE FAILURE OR A MASSIVE FALLOUT IN WHAT NO DOUBT CAN BE CHARACTERIZED AS WIDESPREAD...
|
| 00:59:17 |
Unidentified Speaker, -
GREAT COMPANY AND HERE ARE ALL THESE WONDERFUL THINGS ABOUT HIS COMPANY AND WHY INVESTORS OUGHT TO BE HAPPY, AND CONTINUE TO INVEST IN HIS COMPANY,...
|
| 01:01:46 |
Unidentified Speaker, -
BACK. AS A TRAFFIC COP, IT'S MY OPPORTUNITY TO KEEP THIS WITHIN BOUNDS AND WE'VE REACHED THE OUTER BOUNDS OF THE TIME AVAILABLE AND I WANT TO THANK...
|
| 01:02:25 |
Unidentified Speaker, -
CONVERSATIONS] >> >>
|
| 01:02:35 |
Unidentified Speaker, -
|
| 01:02:47 |
Unidentified Speaker, -
NOW
|
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.