SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : The Enron Scandal - Unmoderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Glenn Petersen who wrote (2670)5/27/2003 1:28:37 PM
From: James Calladine  Read Replies (2) of 3602
 
While the proposed activity of the SEC relative to fraud is meritorious, since the most troubling frauds have been those committed by SENIOR MANAGEMENT (who will now be asked to regulate THEMSELVES) it is an an activity roughly analagous to asking the fox (already in charge of the hen house) to make statements saying that he/she has ensured that the hens are fully under control and not doing any funny stuff.

Everybody knows what has to be done:

-- auditors INDEPENDENT of clients
-- options expensed
-- true accounting information (not just rigged numbers so that management can get rich on options based on phony numbers)

But it appears that nobody really wants to do it (with the exception of a VERY few companies related to Buffett.

Namaste!

Jim
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News