VFD:
Jail time for crooked company officers does nothing to remunerate the common stockholders who end up being zeroed out.
In cases such as Enron, Global Crossing and now WorldCom, where it can be proven that poor accounting practices, intentional deceit and release of bad information misleads investors, ANY subsequent settlements should include making some restitution to the shareholders. If faced with jail time and the fact you can't ace out the shareholders, that should incentivize accountants, auditors, CEO's, CFO's et al, to rethink their current modus opporendi.
Jak |
