MANIPULATION IS RAMPANT --- Can We Stop It? Message Board

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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It?

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To: KMFDM2000 who wrote (33)	5/11/2002 12:17:18 PM
From: Dave Gore	Read Replies (1) of 589

Post-Enron Reforms: What's Real and What's Not - From Business Week Online, Feb. 25, 2002 businessweek.com The prospects for congressional action. PENSION SECURITY -- Employees can sell stock from company matching programs sooner. Count on it. -- Employers can hire outside advisers to guide workers on investing their 401(k) cash. A lock. -- Employees get to elect trustees for 401(k)s and pension plans. Unlikely to pass. CORPORATE ACCOUNTABILITY -- Faster reporting of all insider stock trades. Excellent. Could happen in 2003. -- Suing corporate officers for financial chicanery becomes easier. Dubious. Conservatives oppose. -- Companies must book stock options as an expense. Good. Has bipartisan backing. FINANCIAL DISCLOSURE & TRANSPARENCY -- Closer SEC scrutiny of financial reports. Certain. Commissioners have gotten the message. -- Investors get more company data and faster. Likely. Treasury Dept. will embrace the idea, but the scope of the rules remains vague. -- Crackdown on corporate tax shelters. Dicey. The worst may go, but new mutants will emerge. ACCOUNTING -- New private-sector board to probe accounting failures and discipline auditors. Certain. -- Accountants can't consult for audit clients. Good. Big Five are already splitting the roles. -- Accounting rulemaker FASB overhauled to cut industry and political clout. Iffy. Republicans prefer market-based reforms. POLITICAL REFORM -- Banning soft-money donations to political parties. Some measure likely. But corporate cash will find new roads to politicians' pockets.

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