NATION : Senators Split Over RICO Reform
WASHINGTON — A Senate bid to curb the recent spate of civil lawsuits brought under a federal racketeering law quickly stalled today when Senate Judiciary Committee members deadlocked over a proposed bill to reform the legislation.
The 1970 Racketeer Influenced, Corrupt Organizations Act, or RICO, was originally intended as a government weapon against organized crime.
However, in the last decade it has been increasingly used in civil disputes against corporations.
Sen. Dennis DeConcini (D-Ariz.) said it was apparent to him that legislation he was sponsoring would be held up by objections from fellow Democrat Howard M. Metzenbaum of Ohio. “I’m willing to reform RICO, not to gut it,” Metzenbaum responded.
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