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To: L. Adam Latham who wrote (167936)	7/10/2002 9:27:57 PM
From: Tenchusatsu	Respond to of 186894

Adam, I guess government is afraid of looking incompetent, so instead they pretend like the current laws are inadequate, then pass new laws. But of course, that's just my WAG. ;-) Tenchusatsu

To: L. Adam Latham who wrote (167936)	7/10/2002 9:30:22 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 186894

L.Adam, The current Politicians need to go too. Even wonder why when one Dems speaks out...the rest run for cover? This payola stuff stinks on both sides of the aisle. I won't say I told anyone so but I've been complaining about it for years here...only to be accused of panicing. We know about Bush, Cheney, McCain etc., all the pork...but just to add perspective to it all look at this one. You hardly hear much about it... newsmax.com "Terry McAuliffe and Corporate Greed This has all the indications of sleaze attributed to Enron, but with this difference. This time there is a questionable political connection that is real. It turns out that Democrat National Chairman Terry McAuliffe made an 18,000 percent profit from Global Crossing, turning a $100,000 stock investment into $18 million. But there's more: McAuliffe took his money off the table just before the corporation went into the tank. Global Crossing employees and small shareholders and pensioners were left holding the bag" ... A lot of that money went to fund Gores campaign...or so I hear. So who is the sucker here? The public of course. Not that they have had their wallets cleaned will they "get it"... Remains to be seen. Jim

To: L. Adam Latham who wrote (167936)	7/11/2002 4:35:49 AM
From: Amy J	Respond to of 186894

Hi Adam, Great post. "The President and Congress aren't helping the DOW either, in my opinion. They're both playing politics and are trying to gather votes for November by yacking about new, tougher Securities laws. The problem is, any new regulations will force companies to hire more lawyers, more accountants, and more consultants to make sure they're following all of the latest rules, and the result will be lower profits. Lower profits = lower stock prices, it's that simple. The current laws are tough enough already - people are simply breaking the law and should be punished. Is it that difficult for the politicians to understand?" Regards, Amy J

To: L. Adam Latham who wrote (167936)	7/11/2002 8:16:51 AM
From: John F. Dowd	Read Replies (2) \| Respond to of 186894

LAL: You are correct to a point. They have got the NAZ down to 96 levels see Big Charts (java mode). But the other usual suspects that you have neglected are those in the financial media. They are looking for all sorts of non events and painting them as criminal. Take the Medco thing for instance. They included copayments in gross revs and then expensed it out. The net result was nada but they made an issue of it even though it was in full compliance with "gap". This witch hunt will be the real death of whatever might be left of a positive market psychology.JFD

To: L. Adam Latham who wrote (167936)	7/12/2002 12:18:14 PM
From: Amy J	Read Replies (1) \| Respond to of 186894

Adam and Thread, "Corporate crooks belong behind bars, Sun chief says" By Therese Poletti Mercury News Sun Microsystems Chief Executive Scott McNealy says the government should send corporate crooks to jail ... ``I'll stand up for mine if they stand up for theirs,'' McNealy said, noting that President Bush, SEC Chairman Harvey Pitt, Attorney General John Ashcroft and Congress should be held accountable for the U.S. budget. The government routinely restates its unemployment numbers, he said. ... McNealy said that when Sun reports its fiscal fourth-quarter earnings next week, the company will make some additional financial disclosures. ``We're going to be very proactive about what we disclose in terms of facts,'' he said. ... McNealy suggested that Congress reform the tax code and the accounting industry streamline its maze of rules and regulations. ... bayarea.com -------------------------------- Some good quotes in there, his points resonate with the comments in your post about sending criminals to jail, rather than creating even more complex rules and regulations. Though I do like the requirement making CEO's sign-off their financials. I wonder if the markets will tank further as CEO's across the industry impose more disclosures on their CFO's. Regards, Amy J