The Nation

The Commission on Federal Ethics Law Reform, which was directed by President Bush to reform and revitalize federal ethical standards, is framing recommendations that would sharply reduce requirements for financial disclosure by government employees, the Washington Post reported. Among the proposals being considered are ones to eliminate requirements to report estimated income from stocks, partnerships and rental properties; gains or losses from sales of such assets, and the size of personal debts over $1,000, sources said. At a meeting Feb. 14, the panel took a preliminary vote to eliminate the need to assign estimated values to a person's financial holdings. One source said that "the public doesn't need to know" details of a person's financial situation, other than the names of holdings worth more than $1,000.

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