Put Your Accounting Where Your Mouth Is

Already the Democrats are whining that President Bush isn’t creating new laws on securities fraud. Tom Daschle is being his usual shrill Lizard King of the Senate, complaining that the Bush administration hasn’t created new laws to flay corporate officials alive.

Excuse me, Tom, but this kind of fraud is already illegal. Making new laws makes little sense, but actively enforcing the laws we have would.

So I have a suggestion. The government can create an independent auditing commission to overlook corporate books if the first target should be the federal government. And for each act of fraud or inadaquite disclosure, the party responsible should be send to jail for the maximum sentence. After all, cleaning house should start at home…

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