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Corporate policy speech today at Northeastern takes aim at corruption
BY DAVID S. BERNSTEIN
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THURSDAY, DECEMBER 11, 2003 -- Senator John Kerry, looking for an issue to put a spark in his campaign, re-launched himself as a populist Thursday morning in an appearance at Northeastern University. With national networks on-hand and a "Corporate Responsibility" backdrop behind him, Kerry blasted "crony capitalism" and "robber baron capitalism," and vowed to fight for the common family. Kerry focused on the recent mutual fund scandal, but also took swings at corporations moving offshore to avoid federal taxes; Worldcom, Enron, and other financial scandals; excessive CEO pay; no-bid contracts in Iraq; and industry influence on administration regulations and legislation. Kerry also made sure to put the blame on George Bush, showing how the administration has rewarded companies like Worldcom and Tyco with hundreds of millions of dollars in new government contracts. He also blasted Bush’s Securities and Exchange Commission for ignoring a Putnam Investments whistleblower. "He has looked the other way while corporate crooks in corner office suites have defrauded everyday investors and destroyed the retirement savings of workers," Kerry said. The steps Kerry laid out to deal with the problems seemed almost an afterthought -- for instance, calling for an end to after-hours market-timed trades, which the SEC already voted to stop. But this speech was not so much about specifics, and more about grabbing the corporate-scandal issue for himself. Kerry is certainly not alone in what he’s saying -- Dean released a list of measures he would take against the mutual funds industry a week ago -- but he may see it as an issue that will help him connect with the working-class families he seems to have been unable to convince so far. With the length of Dean’s New Hampshire lead in recent polls, the Senator certainly needs to try something.
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