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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 12 4:00 PM EST

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To: Berney who wrote (26450)	9/21/1999 12:33:00 PM
From: Haim R. Branisteanu	Read Replies (1) of 99985

Berney I would like to make it strict and simple. Financial statements submited to the public should obey to the same rules as those submited to Federal Government Agencies. Penalties should be the same, and I would be more than happy to see several CEO, CFO ect. go to jail and any ill recieved compensation from stock option to go back to the shareholders, including of those employees which gained on teh expense of share holder. A criminal is a criminal and it should not differenciate as the system does it now. If I submit to an FDIC insured entity misleading financial statements to raise capital I go to jail for up to 30 years. See this decission of the US Supreme Court on this case bway.net Decision - The principal issue before us is whether materiality of falsehood is an element of the crime of knowingly making a false statement to a federally insured bank, 18 U.S.C. § 1014. We hold that it is not. supct.law.cornell.edu Haim

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