Alexander Bolton

Alexander Bolton is a staff writer at The Hill.

Recent Articles

How to Undermine a Law

T he events leading up to the high-profile resignations of Harvey Pitt and William Webster are symptomatic of a broad effort by President Bush, Republicans on Capitol Hill and the business community to undermine a six-month old law designed to prevent corporate fraud and accounting scandals like those that racked American business for the past year. Business lobbyists want to make it easier for banks to give loans to members of their own boards of directors. They also want to make it more difficult to implicate CEOs in potential fraud against their own companies. And they want to exempt multinational companies from having to comply with American accounting standards if those firms' systems already meet European regulations. Bush and his congressional deputies have shown little enthusiasm for toughening accounting and corporate-governance laws even as companies such as Enron and WorldCom collapsed, accounting irregularities shook investor confidence and the stock market plummeted. Just...