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To: Jim Willie CB who wrote (52042)	5/24/2002 3:53:29 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

<<why isnt SEC/Pitt enforcing current rules vs BrokHouses>> Good question...there's probably too much power, influence and corruption (sort of like trying to enforce the rules vs. the Mafia <G>). Here are a few questions for you... Why have we destroyed Andersen BUT failed to really go after the most guilty parties of all --> the top execs that used to run Enron...?? In an interview the other day on CNBC Former Fed Chief Paul Volcker said it is essential for us to hold CEOs accountable for fraudulent activity...he wants MUCH stiffer penalties than we've seen in the past. I couldn't agree more. Last time I checked Kenny Boy, Fastow and Skilling were still in possession of huge fortunes they made ILLEGALLY and they're meeting with teams of lawyers to try to shield their wealth from lawsuits...Something's wrong with this system. Where's the justice for the little guy who got screwed by Enron management...?? Oh well, at least they can't get their reputations back. Maybe if we're lucky they'll have some time to think things over in prison.

To: Jim Willie CB who wrote (52042)	5/24/2002 4:28:48 PM
From: stockman_scott	Respond to of 65232

Pitt: Stand Behind Your Numbers Friday May 24, 3:24 pm Eastern Time WASHINGTON (Reuters) - U.S. regulators next month will consider a rule that would force chief executives to sign off on the accuracy of their financial statements in a bid to hold them more accountable, Securities and Exchange Commission Chairman Harvey Pitt said on Friday. The proposal is part of an effort to improve accounting and restore confidence in corporate America. The SEC is under pressure after the stunning collapse of Enron Corp. (Other OTC:ENRNQ.PK - News) rattled investors' faith in executives and their auditors. "We've attempted to influence corporate behavior by reminding companies and their officers about their responsibilities and discouraging rewarding them for poor stewardship," Pitt said in a speech to the mutual fund industry's trade group, the Investment Company Institute. In his speech, Pitt alluded to the SEC's March charges against John Gallo, the former president and chief operating officer of IGI Inc. (AMEX:IG - News), for allegedly violating antifraud provisions and lying to auditors. The SEC sought to recoup bonuses, options and salaries paid for financial performance it said was a sham. Pitt said on Friday that the SEC will continue to seek similar charges against others.