Bush declares 'no more easy money' as fraud law signed

HOPING to restore investor confidence, US President George Bush yesterday signed into law the most far-reaching government crackdown on business fraud since the post-Depression era.

“No more easy money for corporate criminals. Just hard time,” Mr Bush said before signing the bill yesterday as politicians from both parties and top administration officials looked on. Conspicuously absent were corporate chief executives.

“Free markets are not a jungle in which only the unscrupulous survive, or a financial free-for-all guided only by greed,” said Mr Bush at a White House signing ceremony carried out with considerable fanfare.