After al it's the SEC's JOB and MISSION to ferret out problems like Enron...since when does it become the President's job to interfere in the daily operations of a corporation?
It's obvious the stupid lefties see that as how you run a company...they are living in a world of illusion and painting their moronic ideas on this situation.
The real story here is the failure on the part of the SEC and the collusion between Enron execs and Arthur Anderson. Hopefully the criminal investigation will sort this out. There shouldn't be any Congressional hearings because the politicians will only make matters worse. More knee jerk reacting, unfortunately.
Their is another thread about Kmart's impending bankruptcy. We are having lots of fun with sarcastic remarks about...but how come the President isn't doing anything about it? I have lost value in my stock and he's letting it happen....waaaaah.
It would be better to eliminate the SEC -- they provide a false security, and act much more like the gatekeepers to the circles of power. The way it ends up working is that the within the clubhouse you are safe and enfattened, outside mongrels are left lean and mangy -- and likely to be shot as whims declare.
Contract law and the law of agency is more than adequate protection for stockholders, especially given the well-trained legal wolf-packs we have these days.
Stock market regulation is Fascist.