WASHINGTON-President George W. Bush named Michael Powell, chairman of the Federal Communications Commission, to serve on his newly created Corporate Fraud Task Force.
“I gained a heightened appreciation for the vital role investor confidence plays in the successes or failures of companies in the telecom sector, particularly in the critical area of companies obtaining capital to finance operations and technological improvements,” said Powell, commenting on his recent trip to New York.
Bush announced the creation of his task force during a speech on Wall Street, which came in the wake of the WorldCom Inc. accounting scandal.
