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Non-Tech : The ENRON Scandal -- Ignore unavailable to you. Want to Upgrade?

To: PartyTime who wrote (2055)	1/31/2002 11:47:16 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 5185

The problem will not be resolved by mandatory term limits for auditors. In fact, that would have the REVERSE effect. It would be easier for management to pull a fast one on some ingenue than an auditor who had 'been around'. No pun intended. THE PROBLEM IS THAT the and the Imperially minded Republicans (aided I must confess by a few neo socially inclined persons)passed laws that made conflics of interest legal AND MADE ACCOUNTANTS LEGALLY IMMUNE FROM SUIT as well as the brokerage houses and now the Federal Banks immune from the scrutiny of the Private judicial system's glare. Given that background the accounting firms did what they wanted without fear of being caught or saving documents. Just enforce the securities law, you don't need anything else. These laws provide for everything from recision and restitution to non-dischageable judgments. Trust me on this one, this sh!t would stop in 45 seconds. If you look to government to solve these problems, all you will get is Enron and variations on the theme. It will happen again, this time slighly differently, and we then can have more congressional hearings.