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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who started this subject1/10/2002 9:59:03 PM
From: macavity  Read Replies (4) of 33421
 
R.I.P. Arthur Andersen.

I am reading the news about Arthur Andersen and the Enron documents in absolute disbelief.

This is a massive can of worms.

There is a difference between ignoring the obvious (sloppiness) and destroying the evidence (criminal). If it is proved that they knew (more likely some junior guy was overuled) that anything was awry and that they carried on regardless, then we are going to see something that will blow the Glass-Steigal act out of the water.

The whole concept of chinese walls and independence just cannot be relied upon, especially when things get bubblicious:-

Trading desks, Corporate Actions (IPOs/takeovers)and Equity Research Analysts (Buy/Sell/Holds).
And now,
Auditing and Consultancy.

Its a farce! God help us all if there is another Enron out there.

Arthur Andersen is dead. R.I.P..
Do they have a stock symbol?

-macavity
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