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Technology Stocks : Intel Corporation (INTC)
INTC 36.08-3.2%Dec 17 3:59 PM EST

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To: tcmay who wrote (166477)6/17/2002 3:40:36 PM
From: GVTucker  Read Replies (1) of 186894
 
tcmay, RE: Arthur Anderson death sentence too harsh.

What you say makes sense in theory, Tim, but in practice it really doesn't matter. No matter whether the verdict was guilty or innocent, Arthur Andersen had already dealt themselves a death penalty.

Practically the only thing that an audit firm can offer is credibility. Enron killed Arthur Andersen's credibility. The market would have punished anyone foolish enough to keep its audit business with Arthur Andersen. For the most part, all of Arthur Andersen's audit clients have already left.

The government didn't give AA the death penalty. The market already had taken care of it.
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