Bush is serious on cracking down on corporate fraud...

...um, no!

You know the drill...

The Bush administration, through a statement quietly released Tuesday evening and explanations from aides, said it viewed the new law as protecting informants only if they help a congressional committee conducting an investigation. Protections would not apply when evidence is provided to individual lawmakers or aides outside such proceedings, the White House said.

What does this mean?

Good summary by Josh Marshall (again)...

[I]f you know your company's books are getting cooked and you ring up a Senator before the investigation gets underway, then you're vulnerable. But of course it probably would be before the investigation got underway, wouldn't it? That's why you're dropping a dime on them in the first place! To let someone know what's going on so they'll start an investigation!

He's living down to my every expectation!