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To: Oeconomicus who wrote (9047)	2/4/2002 4:47:59 PM
From: Rob S.	Read Replies (1) \| Respond to of 11568

I saw an article on another financials site that said that the company has already covered Bernie's position. If that's true then investors have one more thing to be pissed off about because that sort of thing should not be done. But there is little recourse for investors but to stomach it. This is, however, part of the deeper problems that have infested the way corporations are run. Transparency in accounting and reporting is only as good as words an deeds of management and the accountants and board of directors who have the job of watching for shareholder's interests from arms length away. Once these checks and balances are compromised, the pandora's box of Enron type shenanigans becomes an unknown possibility. The boards and so-called "independent" accountants are supposed to be ultimately responsible to shareholders not to the managers who hired them (I know the board is elected by shareholders but that is not the way it works out in practical terms). Bailing out Bernie is not shareholders responsibility. When has he bailed any of you out? Doesn't he get paid for the job he signed on for? I say it's time for shareholders to regain their rights and for the brokerage whore houses to spin off their analyst pimps, the accountants to spin off their consulting agencies, and for the boards to become truly independent and responsible to shareholders. Congress will hold a ton of hearings on these issues but will probably rubber stamp flimsy lobbyist drafted "reforms" after the public had tuned the issue out. . . Or we could get a real tsunami of a shattering of International confidence in America's institutions that will make 9/11 look like a nose bleed on the merry-go-round.