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CNN Live At Daybreak
What's on Tap for D.C. Today?
Aired July 30, 2002 - 06:08 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ANDERSON COOPER, CNN ANCHOR: Joining us now on the phone is our Washington deputy bureau chief, Steve Redisch, with a look at what is going on in Washington this morning.
Good morning -- Steve.
STEVE REDISCH, CNN WASHINGTON DEPUTY BUREAU CHIEF: Good morning, Anderson.
No stories of survival like that for us today here.
COOPER: Well, what's going on at the White House?
REDISCH: We've got President Bush today signing the Corporate Responsibility Bill that passed very quickly through both Houses of Congress, basically to tighten up accounting practices, to establish an oversight board for auditors, and major penalties for those who commit stock fraud.
COOPER: Now, also, the Senate today, I think, is looking into WorldCom, is that right?
REDISCH: WorldCom, Qwest, Global Crossing, the CEOs of those three companies are up before the Senate today as senators ask, how are they going to continue providing service in the face of such financial despair? Bernie Ebbers is one of those people who will be testifying, along with the other CEOs.
COOPER: And there's also, I think, an ethics committee, which is looking into another representative as well.
REDISCH: Senator Bob Torricelli of New Jersey is up before the ethics committee. They may finish their work this week. They are going to meet today. Torricelli is accused of taking gifts from a New Jersey businessman, gifts like Italian suits, a 42-inch television, a cashmere coat, a Rolex watch. This New Jersey businessman, David Chang, is behind bars for illegally giving campaign contributions. Torricelli was cleared of any criminal wrongdoing, but he is still before the ethics committee today.
COOPER: And just so we have his side, Torricelli says that there were no inappropriate gifts, is that right?
REDISCH: He says there were no inappropriate gifts, no gifts, no illegal gifts, simply no gifts.
COOPER: Any news on the train derailment investigation?
REDISCH: The NTSB has started their investigation, as Kathleen Koch mentioned a little while ago. And they'll be out today at the track outside of Washington, checking to see what might have happened. They have got the recorders on board the train that gives them all kinds of data as to the speed, what the engineer was doing, whether he was braking or throttling, basic conditions for the train when it crashed.
COOPER: OK. And also -- I think, finally also, Senator Wellstone is working on some car-related legislation?
REDISCH: Under the hood, so to speak. He is trying to pass legislation that may make it less expensive for you to repair your new cars. New cars have all of these computer systems on board. What led -- what Wellstone wants is the automakers to give up the computer codes so that independent repairmen can fix those cars. Otherwise, you have to take it to the dealer.
COOPER: All right, cool. Steve Redisch thanks very much for joining us this morning.
REDISCH: Talk to you tomorrow.
COOPER: All right.
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