PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: DuckTapeSunroof who wrote (226000)	2/7/2002 10:09:47 PM
From: Zoltan!	Read Replies (2) of 769670

>>Therefore, an administrative waiver to any SINGLE company could not possibly be as serious an issue as a systemic conflict of interest in the entire accounting industry... upon whose numbers all investors depend. What nonsense. What screwy non-logic. Instead of looking at what went wrong, attack "the system". Such obtuse non-thinking is being used by charlatans to spook the markets - they see Enrons everywhere. The remedy is to find out what actually went wrong and to punish the malefactors. That's better than your non-reform reform - the path that lets the guilty off the hook. The problems with Enron were not hypothetical. They were not "of the system". The problems were particular to Enron. They were not conflict of interest problems - they were of a company being granted an exemption around the law - the law that Congress refused to change. That SEC exemption allowed management to enter those partnerships and to hide the debt. That, by all accounts, led to the downfall of Enron. The cure is to punish those at the Clinton SEC that granted the exemption and to put those at Enron in jail - if what they did was illegal - but thanks to the SEC what they did may not have been.

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