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Private Securities Litigation Reform Act Reveals Why Voting Green is the Best Choice for Voters.

Statement by Charlie Pillsbury, Green Party Candidate for Congress, CT-3rd District.  Delivered on June 8, 2001, at the Energy Fair on the New Haven Green.

The Green Party is built upon the foundation of Ten Key Values, which present a framework from which we continue to build an evolving Green Platform that expresses our commitment to creating fundamental and enduring change in our current political, social and economic lives. I would like to highlight three of these key values, as we consider today how to reorder our political, social and economic lives for our future, and the future of our children and their children's children.

The first is ECOLOGICAL WISDOM. Human societies must operate with the understanding that we are part of nature, not separate from nature. We must maintain an ecological balance and live within the ecological and resource limits of our communities and our planet. We support a sustainable society which utilizes resources in such a way that future generations will benefit and not suffer from the practices of our generation.

The second is PERSONAL AND GLOBAL RESPONSIBILITY. We encourage individuals to act to improve their personal well-being and, at the same time, to enhance ecological balance and social harmony. We seek to join with people and organizations around the world to foster peace, economic justice, and the health of the planet.

The third is FUTURE FOCUS. Our actions and policies should be motivated by long-term goals. We seek to protect valuable natural resources, safely disposing of all waste we create, while developing a sustainable economics that does not depend on continual expansion for survival. We must counter-balance the drive for short term profits by assuring that economic development, new technologies, and fiscal policies are responsible to future generations who will inherit the results of our actions.

How do the Republicans and Democrats deal with these issues and what are their values? The Enron scandal offers a number of good examples of how our two major parties contribute to the very serious problems that we Greens are trying to solve for future generations.

Today, I want to shine some light on a relatively unknown part of this story: the Private Securities Litigation Reform Act sponsored by Connecticut’s liberal Democratic Senator Chris Dodd. While this law was supposed to protect society from those greedy trial lawyers, what it really did was limit the liability of auditing firms like Arthur Andersen who sign off on the balance sheets of crooked corporations like Enron. The New Haven Register described the legislation this way: it “stripped stockholders of their rights and gave extraordinary protection to executives who lied and accountants who fudged.” (N.H. Reg., 2/16/02, p.A10).

President Clinton actually vetoed this awful law, but his veto was overridden by both the Senate and the House, including the entire Connecticut Congressional delegation, both Republicans and Democrats.

What’s the story? The Enron scandal is not just about President Bush’s ties to Enron executives; it’s about the ability of special interests to buy politicians from both major parties. The Democrats are trying to pin “Enrongate” on the Republicans and the White House, but the Democrats’ hands are just as dirty. Senator Joe Lieberman, who’s supposed to be leading the investigation into Enrongate, took money from Enron. Both Senator Dodd and Rep. Rosa DeLauro received campaign contributions from Enron’s auditing firm Arthur Andersen, coincidentally at the same time that the so-called Private Securities Litigation Reform Act was being considered and voted for by Dodd, Lieberman and DeLauro.

I started by talking about energy and the environment and Green Party values, and I am ending by talking about money and greed and Green Party values. When it comes to the issues of greed, money and politics, the only political party with any integrity both locally and nationally is the Green Party, because we don‘t accept money from corporate PACs. The Enron story is a great argument for voting Green in the next election.

Vote Pillsbury for Congress in November!

 

Charlie Pillsbury for Congress