/PRNewswire -- The National Commander of The American Legion called on the U.S. Senate to stop the so-called DREAM Act after the bill passed in the House of Representatives, 216-198, yesterday.
"Some people mistakenly believe that the DREAM Act would encourage military service and the pursuit of college education," National Commander Jimmie L. Foster said. "Instead, it rewards illegal behavior. It says to those who are trying to legally enter our country, disregard the law and you will ultimately be rewarded. It might be called the DREAM Act, but it's really an amnesty nightmare."
A resolution passed by The American Legion's National Executive Committee, or board of directors, states, in part, "That The American Legion opposes legislation that would result in the granting of amnesty and legal residency, in any form or by any name, to illegal immigrants currently in the United States."
The nation's largest veterans service organization also opposes granting financial aid or "in-state tuition rates," to those who are here illegally. "The United States has dwindling financial resources, as those in the veterans and military communities are frequently reminded," Foster said. "Why would we want to spend those limited resources on educating people who have no legal right to be in this country? The American Legion has a comprehensive immigration strategy that can be found on our website, www.legion.org. That strategy begins with securing our borders."
Foster encourages members of The American Legion family and other like-minded citizens to call their U.S. senators and urge them to vote "No," on the DREAM Act. The number to the Capitol Switchboard is 877-762-8762.
With a current membership of 2.4-million wartime veterans, The American Legion was founded in 1919 on the four pillars of a strong national security, veterans affairs, Americanism, and youth programs. Legionnaires work for the betterment of their communities through more than 14,000 posts across the nation.
Showing posts with label legal. Show all posts
Showing posts with label legal. Show all posts
Thursday, December 9, 2010
Tuesday, January 19, 2010
Most Americans Support Holding Wall Street and Corporate Wrongdoers More Accountable to Investors by Bolstering Investors' Legal Rights
Most Americans Support Holding Wall Street and Corporate Wrongdoers More Accountable to Investors by Bolstering Investors' Legal Rights, an Opinion Research Corporation Survey Finds
/PRNewswire/ -- Sixty-two percent of Americans believe Wall Street executives were not honest with the public during the recent financial meltdown and 59 percent of Americans do not believe corporate CEOs and financial officers provide accurate information in financial statements. And, most Americans favor additional legal rights for investors that would allow them to seek compensation for loss from any deceptive conduct by Wall Street or corporate officers -- even if it did not involve a public misstatement.
These are among the findings of a national Opinion Research Corporation (ORC) survey of public attitudes toward financial fraud and investor protection. The telephone survey, conducted December 10-13, and sponsored by the National Association of Shareholder and Consumer Attorneys (NASCAT), also found that nearly all Americans feel that those who commit fraud should be held accountable to investors who lose money as a result of the fraudulent behavior. Similarly, nearly all Americans think that those who engage in fraud but do not admit it publicly should still be held accountable to investors.
"The survey findings reveal that the public is very aware that financial and corporate officers have been engaged in conduct that is not just reckless, but that has been deceptive and dishonest before and during the financial meltdown," explained Ira Schochet, Esq., NASCAT's president. "Americans understand that Congress and the Administration must substantially increase accountability in our financial markets in order to protect investors and reduce the likelihood of another systemic crisis."
As reported by Opinion Research Corporation, some of the key findings are explained below:
-- ORC explained to survey respondents that the law allows investors to seek compensation from executives who knowingly make misrepresentations to the public. They were then asked if there was a need for additional legal rights that allow investors to sue for compensation from executives who knowingly engage in any form of deceptive conduct, even if it does not involve a public misstatement. Three-fourths (74%) agree that investors should have these additional rights. One-in-five (21%) do not.
-- Practically every respondent (94%) feels that those who commit fraud should be held accountable to investors who lose money as a result of those fraudulent actions. Only 5% do not think they should be held accountable.
-- Support is also strong for keeping executives accountable to investors when they perpetrate financial fraud even if they do not publicly admit their wrongdoing. Nine-in-ten (90%) support this idea with only 7% saying no.
-- Ninety percent of Americans believe people who participate in financial fraud - such as knowingly engaging in a sham transaction or telling others how to prepare fake financial statements or otherwise deceive investors - should be held accountable to investors. Only 7 percent oppose, while 2 percent had no opinion.
-- And, respondents were asked about the current ability of corporate managers to avoid accountability to shareholders by limiting disclosure of a wrongdoing. When asked, only a quarter (25%) agree that this should happen while 73% disagree.
Findings Support Congressional Action on Anti-Investor Court Decisions
"These findings show overwhelming public support for Congress to restore liability to investors for those who aid and abet fraud and those who can currently escape liability by manipulating public disclosures," NASCAT's Ira Schochet continued. "Congress can accomplish these goals by rolling back two radical Supreme Court decisions (Central Bank in 1994 and Stoneridge in 2008), which eliminated private liability for aiding and abetting securities fraud; and, clarifying another Court decision (Dura in 2005), which inadvertently empowered some conservative lower courts to throw out valid investor fraud claims whenever sophisticated executives and their professional advisers disguise the impact of wrongdoing by manipulating the timing and content of news releases."
Investor Demographics and Survey Methodology
About half of American adults own stock and half do not. A typical owner is older, wealthier and better educated than someone who does not own stock. Stock owners are just as likely to have the investment as a result of an employer plan as to own it on their own without any employer involvement.
These findings are from a telephone survey conducted of 1,017 adults comprising 509 men and 508 women. Interviewing for this survey was completed during the period December 10-13, 2009. The results have a margin of error of plus or minus three percentage points among the total sample. Opinion Research Corporation, based in Princeton, NJ, conducted the fieldwork.
The National Association of Shareholder and Consumer Law Attorneys is a nonprofit organization comprised of about 100 law firms representing consumers and investors - including pension funds and individuals - in cases of securities fraud and other forms of "white collar" wrongdoing and criminal activity.
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www.politicalpotluck.com
Political News You Can Use
/PRNewswire/ -- Sixty-two percent of Americans believe Wall Street executives were not honest with the public during the recent financial meltdown and 59 percent of Americans do not believe corporate CEOs and financial officers provide accurate information in financial statements. And, most Americans favor additional legal rights for investors that would allow them to seek compensation for loss from any deceptive conduct by Wall Street or corporate officers -- even if it did not involve a public misstatement.
These are among the findings of a national Opinion Research Corporation (ORC) survey of public attitudes toward financial fraud and investor protection. The telephone survey, conducted December 10-13, and sponsored by the National Association of Shareholder and Consumer Attorneys (NASCAT), also found that nearly all Americans feel that those who commit fraud should be held accountable to investors who lose money as a result of the fraudulent behavior. Similarly, nearly all Americans think that those who engage in fraud but do not admit it publicly should still be held accountable to investors.
"The survey findings reveal that the public is very aware that financial and corporate officers have been engaged in conduct that is not just reckless, but that has been deceptive and dishonest before and during the financial meltdown," explained Ira Schochet, Esq., NASCAT's president. "Americans understand that Congress and the Administration must substantially increase accountability in our financial markets in order to protect investors and reduce the likelihood of another systemic crisis."
As reported by Opinion Research Corporation, some of the key findings are explained below:
-- ORC explained to survey respondents that the law allows investors to seek compensation from executives who knowingly make misrepresentations to the public. They were then asked if there was a need for additional legal rights that allow investors to sue for compensation from executives who knowingly engage in any form of deceptive conduct, even if it does not involve a public misstatement. Three-fourths (74%) agree that investors should have these additional rights. One-in-five (21%) do not.
-- Practically every respondent (94%) feels that those who commit fraud should be held accountable to investors who lose money as a result of those fraudulent actions. Only 5% do not think they should be held accountable.
-- Support is also strong for keeping executives accountable to investors when they perpetrate financial fraud even if they do not publicly admit their wrongdoing. Nine-in-ten (90%) support this idea with only 7% saying no.
-- Ninety percent of Americans believe people who participate in financial fraud - such as knowingly engaging in a sham transaction or telling others how to prepare fake financial statements or otherwise deceive investors - should be held accountable to investors. Only 7 percent oppose, while 2 percent had no opinion.
-- And, respondents were asked about the current ability of corporate managers to avoid accountability to shareholders by limiting disclosure of a wrongdoing. When asked, only a quarter (25%) agree that this should happen while 73% disagree.
Findings Support Congressional Action on Anti-Investor Court Decisions
"These findings show overwhelming public support for Congress to restore liability to investors for those who aid and abet fraud and those who can currently escape liability by manipulating public disclosures," NASCAT's Ira Schochet continued. "Congress can accomplish these goals by rolling back two radical Supreme Court decisions (Central Bank in 1994 and Stoneridge in 2008), which eliminated private liability for aiding and abetting securities fraud; and, clarifying another Court decision (Dura in 2005), which inadvertently empowered some conservative lower courts to throw out valid investor fraud claims whenever sophisticated executives and their professional advisers disguise the impact of wrongdoing by manipulating the timing and content of news releases."
Investor Demographics and Survey Methodology
About half of American adults own stock and half do not. A typical owner is older, wealthier and better educated than someone who does not own stock. Stock owners are just as likely to have the investment as a result of an employer plan as to own it on their own without any employer involvement.
These findings are from a telephone survey conducted of 1,017 adults comprising 509 men and 508 women. Interviewing for this survey was completed during the period December 10-13, 2009. The results have a margin of error of plus or minus three percentage points among the total sample. Opinion Research Corporation, based in Princeton, NJ, conducted the fieldwork.
The National Association of Shareholder and Consumer Law Attorneys is a nonprofit organization comprised of about 100 law firms representing consumers and investors - including pension funds and individuals - in cases of securities fraud and other forms of "white collar" wrongdoing and criminal activity.
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www.politicalpotluck.com
Political News You Can Use
Thursday, December 31, 2009
Attorney General Corbett urges Congress to Strike Nebraska Provision from Health Care Legislation or Face Potential Legal Challenge
/PRNewswire/ -- Attorney General Tom Corbett has joined 11 of his fellow attorneys general urging the leaders of Congress to delete the Nebraska provision from the pending federal health care legislation. The provision grants Nebraska a permanent exemption from paying Medicaid expenses that all other states, including Pennsylvania, are required to pay.
Corbett and his colleagues sent a letter to House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid urging them to remove the Nebraska provision from the health-care overhaul bill or face legal action.
In the letter Corbett said, "The provision violates the most basic and universally held notions of fairness, and is inconsistent with protections against arbitrary legislation afforded by the Constitution."
Corbett, who last week began conducting a legal analysis of the constitutionality of the Nebraska amendment in the health care legislation, said he believes the provision is constitutionally flawed.
Corbett said that Nebraska Senator Ben Nelson secured this special provision for Nebraska in exchange for his support of the Patient Protection Affordable Care Act.
"The result of the Nebraska provision could have dire financial consequences for Pennsylvania taxpayers, forcing them to help offset the cost of Nebraska's Medicaid recipients," Corbett said. "The issue of equity and tax fairness should not be ignored, whether it is at the local, state or federal level."
Corbett noted that Medicaid expenses for Pennsylvania already total approximately $15 billion per year.
Corbett said he will continue to work with his colleagues across the country to explore all legal options challenging this provision if it is signed into law.
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www.politicalpotluck.com
Political News You Can Use
Corbett and his colleagues sent a letter to House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid urging them to remove the Nebraska provision from the health-care overhaul bill or face legal action.
In the letter Corbett said, "The provision violates the most basic and universally held notions of fairness, and is inconsistent with protections against arbitrary legislation afforded by the Constitution."
Corbett, who last week began conducting a legal analysis of the constitutionality of the Nebraska amendment in the health care legislation, said he believes the provision is constitutionally flawed.
Corbett said that Nebraska Senator Ben Nelson secured this special provision for Nebraska in exchange for his support of the Patient Protection Affordable Care Act.
"The result of the Nebraska provision could have dire financial consequences for Pennsylvania taxpayers, forcing them to help offset the cost of Nebraska's Medicaid recipients," Corbett said. "The issue of equity and tax fairness should not be ignored, whether it is at the local, state or federal level."
Corbett noted that Medicaid expenses for Pennsylvania already total approximately $15 billion per year.
Corbett said he will continue to work with his colleagues across the country to explore all legal options challenging this provision if it is signed into law.
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www.politicalpotluck.com
Political News You Can Use
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