-Caveat Lector- >From http://cbs.marketwatch.com/news/story.asp?guid=%7BCFA5DE92%2D0357% 2D4DC4%2DBA0F%2DFC36EF7495AC%7D&siteid=mktw
To print: Select File and Then Print in your browser pull-down menus. Back to story Webster resigns from accounting board By CBS.MarketWatch.com Last Update: 2:48 PM ET Nov. 12, 2002 WASHINGTON (CBS.MW) - William Webster resigned Tuesday as chairman of the new accounting oversight board established to restore investor faith in the audits of publicly traded companies, according to published reports. Webster, former CIA and FBI chief, became a controversial selection after it was learned that he headed the audit committee for U.S. Technologies, a failed Internet investment firm that ran into accounting troubles. Webster was named to the new government oversight board by the Securities and Exchange Commission on Oct. 25. His decision to step down follows last week's resignations of Harvey Pitt, chairman of the Securities and Exchange Commission, and Robert Herdman, the SEC's chief accountant. Pitt and Herdman backed Webster for the chairman of the oversight board over John Biggs, the former chairman of teachers' pension fund TIAA-CREF. Who will replace Pitt? The SEC will now have to pick a new chairman for the five-person board, which is scheduled to meet for the first time Wednesday. Biggs is considered the odds-on favorite for the job. Four separate investigations are under way into the selection of Webster. Known as the Public Company Accounting Oversight Board, the watchdog group is the heart of the Sarbanes-Oxley Act, the sweeping business-reform legislation enacted in July after the spate of corporate scandals undermined investor confidence in the U.S. stock market. See the Scandal Sheet. Two weeks ago, the SEC ordered an internal probe into the selection of Webster after word surfaced that Pitt had withheld information about Webster's role as director at U.S. Technologies from the other SEC commissioners and the White House. The small publicly traded company ran into accounting troubles last year. The General Accounting Office, the investigative arm of Congress, is also investigating the selection process. Before he was voted chairman in a 3 to 2 vote, Webster told SEC staff about shareholder lawsuits U.S Technologies was facing over alleged accounting miscues. Webster, a board member who headed U.S. Technologies' audit committee, hasn't been charged with any wrongdoing. � 1997-2002 MarketWatch.com, Inc. All rights reserved. Disclaimer. See our Privacy Policy - updated 6/25/02. CBS and the CBS "eye device" are registered trademarks of CBS Broadcasting, Inc. Intraday data provided by S&P Comstock and subject to terms of use. Historical and current end-of-day data provided by FT Interactive Data. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. SEHK intraday data is provided by S&P Comstock and is at least 60-minutes delayed. All quotes are in local exchange time. ~~~~~~~~~~~~~~~ A<>E<>R + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Forwarded as information only; I don't believe everything I read or send (but that doesn't stop me from considering it; obviously SOMEBODY thinks it's important) + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + In accordance with Title 17 U.S.C. section 107, this material is distributed without charge or profit to those who have expressed a prior interest in receiving this type of information for non-profit research and educational purposes only. + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + "Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut." --- Ernest Hemingway <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http://archive.jab.org/ctrl@;listserv.aol.com/ <A HREF="http://archive.jab.org/ctrl@;listserv.aol.com/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
