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Technology Stocks : Baidu (BIDU) -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (1577)	9/29/2011 12:36:30 PM
From: manalagi	Read Replies (2) \| Respond to of 2098

NEW YORK (Reuters) - Shares of U.S.-listed Chinese companies fell on Thursday after a top securities regulator said U.S. criminal authorities are investigating accounting irregularities at Chinese companies listed on U.S. stock exchanges. Shares of Chinese search engine Baidu ( BIDU) are down $10.82, or almost 9%, at $110.60 as reports circulate the U.S. Department of Justice is assisting a Securities & Exchange Commission probe of “accounting irregularities” among U.S.-listed Chinese firms. Comments: 1. Should not the SEC monitor any new securities traded under its jurisdiction are in compliance to its regulations? BIDU, SINA and SOHU have been traded on Nasdaq for many years, and only now the SEC is concern that they have accounting irregularities? 2. Should not investment bankers like Goldman Sachs, JP Morgan etc examined their books before doing IPO's or are these clowns more interested in getting fees even for sponsoring shady foreign companies? 3. Especially for BIDU, is this a revenge that it is operating under Chinese censorship, and that GOOG is relegated to a small player in China? It seems that the regulators are trying to push a square peg into a round hole.