Another coop, another fox. But hey, there's an election on in the U.S. and the accounting fraud story has no legs. The stock market boomed in October. If we have to learn these lessons over and over, we will have to do so every six months or maybe every seven seconds -- the reputed memory span of a goldfish:
Audit Overseer Cited Problems in Previous Post By STEPHEN LABATON WASHINGTON, Oct. 30 - Shortly before William H. Webster was appointed to head a new board overseeing the accounting profession by the Securities and Exchange Commission last Friday, he told the commission's chairman, Harvey L. Pitt, that he had until recently headed the auditing committee of a company that was facing fraud accusations, Mr. Webster recounted today. Mr. Pitt chose not to tell the other four commissioners who voted on Mr. Webster's nomination that day, according to S.E.C. officials. White House officials said they, too, were not informed about the details of Mr. Webster's work for the company... http://www.nytimes.com/2002/10/31/business/31ACCO.html?todaysheadlines Arthur Cordell wrote, > The fox guarding the chicken coop and setting the rules and everyone hailed > deregulation of financial institutions. We seem to have to learn these > lessons over and over. > > arthur
