"The President’s speech today did not even meet the minimum standard
of leadership on corporate accountability. Instead of supporting the strong
bipartisan reform bill sponsored by Senator Sarbanes, his speech today set the
tone of business as usual.
The President is right that chief executive officers set the ethical direction
and moral tone for their companies. He is right that every CEO should describe
in the company's annual report, prominently and in plain English, details of
his or her compensation package. Now, the President should follow his own advice
and describe, prominently and in plain English, what his Administration will
do to restore confidence in our financial markets. Today’s speech did not
meet that test - he engaged in rhetoric when what this country needs is real
reform."
