Ridge urges new Homeland Security Department to unify intel
A Cabinet level Homeland Security Department would centralize independent analysis of CIA and FBI data and coordinate a unified federal response to threats. Tom Ridge told Congress the plan keeps CIA FBI and others outside the new department but requires data sharing for rapid action. Republicans and Democrats voiced support while pressing for swift, cost aware implementation.
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SEC backs own plan to tighten oversight of accounting
The SEC endorses a Bush administration proposal for an independent private board to oversee the accounting industry and discipline auditors. The move aims to restore investor confidence amid concerns about public-company financial statements and the accounting profession. The commission opened the plan for 60 days of public comment with a year end target.
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