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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 239.16+2.1%Jan 23 9:30 AM EST
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To: Glenn D. Rudolph who wrote (141364)4/7/2002 11:54:14 AM
From: H James Morris  Read Replies (4) of 164684
 
Sometimes I feel like I'm lonely social crusader, trying my best to clean up Wall Street.
Btw
I do like netguru (NGRU) as a VOIP global speculation play.
I'm outta here.:)
>>Restoring Credibility to Corporate Finance

But beyond short-term difficulties, another stage in the evolution of the corporation may be underway. In the 1920s, Wall Street investment managers organized pools to run up stock prices, attract small investors and then leave them holding the bag as insiders sold out. The securities laws of the 1930s stopped such practices and restored credibility to corporate finance.

In the 1990s, Wall Street investment bankers and corporate managers manipulated initial public offerings to generate huge gains for insiders but massive losses for an investing public that has now grown to include one of every two Americans.

And so now we are embarking on a new era of reform to restore credibility to corporate finance and to provide some relative protection for retirement savings. Reforms won't eliminate greed or change human nature. But regulating corporate behavior, either by the force of law or through shareholder pressure, is imperative for a healthy economy.

"If reforms aren't made, we'll have more scandals in a few years," Millstein says.

"And if reforms are made, we'll still have future scandals but not so frequently."<<

latimes.com
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