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Politics : PRESIDENT GEORGE W. BUSH
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To: Zoltan! who wrote (228864)2/20/2002 10:54:02 AM
From: MSI  Read Replies (1) of 769670
 
Levitt's idea was for accountability, disallowing CPA firms to offer consulting advice.
That would have prevented much of the problems we're seeing.
It's not only offshore accounts at Enron, the bigger picture that Levit attempted to fix is the accounting shenanigangs that include GX and dozens of other co's now bring the market to its knees.
We would still have anonymous offshore accounts
But the audit firms would track their liabilities, rather than lie about it

Had those reforms been implemented we would be seeing a different picture.
Those reforms are now being seriously considered, and will probably be implemented.
No thanks to Congress, tho'. It took a major series of scandals first
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