TREAT THEM LIKE DRUG LORDS

There is something inherently satisfying about Sen. Conrad Burns' proposal
to treat business executives convicted of corrupt financial practices the
same way drug lords are treated - by confiscating their personal assets.

You don't have to be a Democrat or a Republican to resent grossly overpaid
chief executive officers or chief financial officers who profit greatly
from illegal accounting practices which eventually destroy their companies
and severely damage their investors and employees. Corrupt CEOs, like drug
kingpins, cause damage that is both real and widespread.

"Those who would imperil the life savings of their employers and send shock
waves through the American economy should not be allowed to maintain a
lifestyle that was bought by wealth achieve through deceptive accounting
practices," said Burns, who like many Republicans these days is sounding
much like Ralph Nader. "America must never reward deceit."

GOP leaders reading the political tea leaves regarding the November
election have reason to worry. Traditionally, the incumbent president's
party loses congressional seats in mid-term elections. In addition, voters
tend to punish the ruling party when the economy goes south. Now that half
of Americans hold stock, a continuing bear market has the same effect.

Finally, a growing distrust of CEOs isn't particularly good news for an
administration filled with former CEOs who promised to the run the country
like a CEO.

Still, as Burns awaits a reply from U.S. Attorney General John Ashcroft as
to the legality of his "treat 'em like drug lords" proposal, he's hitting
on something that is bound to appeal to many. From the working poor who
sense a touch of inequity in CEO salaries many hundreds of times their own
to business owners who take pride in their ability to meet a payroll,
people know scoundrels when they see them.

Seizing a luxury yacht or a lavish second home may not be as important as
ensuring regulation to prevent these deceptions, but it sure would feel good.