"Some Governments will be timid in the face of terror. And make no mistake; if they do not act, America will," Bush said in his first State of the Union Address to a joint session of Congress. "Our military," he said, "has put the terror training camps of Afghanistan out of business, yet camps still exist in at least a dozen countries. "A terrorist underworld, including groups like Hamas, Hezbollah, Islamic Jihad and Jaish-e-Mohammad, operate in remote jungles and deserts, and hide in the centres of large cities. "My hope is that all nations will heed our call and eliminate the terrorist parasites, who threaten their countries and our own", he said.
Bush praised Pakistan President Pervez Musharraf, who has been the target of intense pressure since the Sept 11 attacks on the US, for cracking down on terror groups.
US firms must be made accountable to workers: Bush
|President George W.Bush said in his Address, that US firms should be made more accountable to workers and shareholders, an allusion to the collapse of Enron. |
"I ask Congress to enact new safeguards for 401(K) and pension plans, because employees who have worked hard and saved all their lives, should not have to risk losing everything if their company fails," he said.
"Through stricter accounting standards and tougher disclosure requirements, corporate America must be made more accountable to employees and shareholders and held to the highest standards of conduct." Enron filed for bankruptcy on December 2 -- the biggest corporate failure in US history -- and is now the subject of multiple investigations, particularly into questionable accounting. Its collapse resulted in more than 4,000 workers losing their jobs, and many more parting with their retirement savings invested in company stock that has become all but worthless.
The energy group admitted in November, it had overstated earnings by nearly $600 million since 1997. It also overstated its equity base by $1.2