After a week of record losses, the stock market bounced part way back, giving investors and worried retirees a frightening roller coaster ride. But news of corporate corruption, which in part triggered the volatility on Wall Street, continues to trickle out. Quest Communications International is another in a growing list of companies admitting that they had overstated their earnings. The telecommunications firm revealed on July 28th that they had improperly accounted for more than $1.1 billion in recent years. After the collapse of Enron, Adelphia, WorldCom, Global Crossing and others, this latest revelation will undoubtedly further shake the confidence of investors and consumers.

Despite Congressional passage of new regulations governing business behavior, many citizens have lost confidence in the major political parties to rein in business corruption - given that both Republicans and Democrats are addicted to large corporate contributions.

In a recent column titled, "The Hog Wallow, Pop Gun Populism Isn't Enough" the Nation magazine's Alexander Cockburn notes how unrestrained corporate greed over the last decade drove many companies into debt while generous stock options fattened the wallets of millionaire CEOs. Between The Lines' Scott Harris spoke with Counterpunch co-editor Alexander Cockburn, who discusses the current travails of crony capitalism and opportunities which may now be open for progressive social movements to influence public policy.

Alexander Cockburn's online publication Counterpunch can be found on the Internet at www.counterpunch.org or call (800) 840-3683