Chris-crossed adventures in Washington

Paul Clinton

It has been a busy, and momentous, week for Chris Cox -- one

capped Wednesday by his lead role in a compromise plan expected to

bring about sweeping corporate reform.

On that day, Newport Beach’s leading-light congressman and other

high-ranking legislators put the final touches on a bill that would

rewrite the rules for corporate accounting and governance.

Paired with Rep. Michael Oxley (R-Ohio), Cox worked closely to

bridge the gap between Senate and House versions of the Public

Company Accounting Reform and Investor Protection Act. The bill,

proposed by Sen. Paul Sarbanes (D-Maryland), passed the Senate 97 to

0 last week.

The final version of the bill is expected to be approved by the

House and Senate today. Bush has said he would sign it soon

thereafter.

With the bill’s passage, tougher penalties could be slapped on

executives who shred documents and stricter supervision of company

auditors. The bill would also create an independent panel overseen by

the Securities and Exchange Commission to monitor accounting

practices.

“Fraud and unfair dealing are the enemies of the free enterprise

system, and as we can see from the turmoil in our markets, our

country is paying a very high price because those in power have

broken faith with their employees and their investors,” Cox said in a

Wednesday statement. “I have no doubt that today, we are enacting

good, tough, strong new rules.”

Today, Treasury Secretary Paul O’Neill is scheduled to speak

before the House Policy Committee, which Cox chairs.

O’Neill has taken flak from Democrats for his fairly low profile

in recent weeks, during a string of corporate scandals that have

caused havoc on Wall Street. At the 9 a.m. hearing, O’Neill will

address current economic conditions.

On July 18, Speaker Dennis Hastert (R-Illinois) appointed Cox to

the conference committee that ironed out the final version of the

bill.

Dana takes a little heat

Enforcing the time limit for speaking at a committee hearing

proved hazardous for Rep. Dana Rohrabacher last week, as a Southern

Democrat suggested he was a racist for cutting off her long-winded

speech.

Rohrabacher stopped Rep. Sheila Jackson Lee (D-Houston) 10 minutes

after she had exceeded her five-minute time limit during a House

Science Committee hearing.

After Surf City’s congressman asked Lee to “be more disciplined in

being able to ask a specific question,” she took offense.

“I’m the only member that you comment on,” Jackson Lee said. “It

may be that I’m the only African American woman sitting here.”

Jackson Lee’s remark came after an angry exchange in which

Rohrabacher, the chairman of the committee, slammed his gavel down

and told the congresswoman she was not recognized and needed to stop

talking.

Stunned by the accusation, Rohrabacher responded: “Ms. Jackson

Lee, that type of charge is beneath you. It’s beneath your dignity.”

The exchange came at a hearing on NASA’s cost-controlling methods

and scientist-retention efforts.

A VP at The Village Crean

Nicaragua’s newest vice president will blow into town today to

speak at a Republican event at The Village Crean.

Jose Rizo Castellon, sworn into power in January, won a narrowly

contested election against former Nicaraguan strongman Daniel Ortega.

Castellon and President Enrique Bolanos, of the Liberal party, halted

Ortega’s third attempt to retake the reins of the country after his

Sandinista party peacefully handed over power in 1990.

Castellon, an eloquent speaker who is fluent in several languages,

will be honored at a private ceremony at the Santa Ana Heights estate

of John Crean, the mobile-home park magnate.

The Republican Party of Orange County is honoring Castellon with

its 2002 Champion of Democracy award.

“His commitment to democracy earns him this award,” Orange County

Party Chairman Tom Fuentes said. “His commitment to improving the

lives of the Nicaraguan people earns him the respect and support of

the voters in his country.”

During their brief tenure in office, Bolanos and Castellon have

battled internal government corruption, worked to raise the standard

of living in the poor Central American nation and endorsed President

Bush’s war on terrorism, a party spokesman said.

Sing, sing a song

John Campbell will do almost anything for friend, political ally

and candidate for governor Bill Simon.

He’ll even sing in public.

Campbell, who represents Newport Beach and Costa Mesa in the 70th

Assembly District, performed as part of a barber-shop quartet at a

Simon fund-raiser on Monday.

Campbell sang “God Bless America” and “The Irish Blessing” at the

Irvine event, which was held at the Strawberry Farms Golf Course.

About 250 people attended the $100-a-plate event.

Campbell, who lives in Irvine, nurtured his musical talents at the

Irvine Presbyterian Church, where he is a member of the choir. Oddly

enough, five other singers joined Campbell in the quartet.