U.S. Business Counters Some Reforms

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=ec6cf304e53a3e69&cat=3a8a80d6f705f8cc

U.S. Business Counters Some Reforms
By Kevin Drawbaugh

WASHINGTON (Reuters) - Sensing public outrage over business corruption in America is waning, some in the corporate community are seizing on the shift in mood to try to roll back reforms, say top U.S. officials and academics.

"There's clearly a rearguard action going on," said Maryland Democratic Sen. Paul Sarbanes in an interview three years after the Enron debacle that led to his co-authoring of landmark corporate governance and accounting reforms in 2002.




Business scandals are now daily fare for Americans, from the prison sentencing on Friday of a former top Boeing Co. executive to revelations of abusive trading in the mutual fund industry and the continuing trial of the former chief executive officer of WorldCom Inc.

Public concern about white-collar wrongdoing and dissatisfaction over soaring executive pay is being tempered by stock market gains and official assurances that reforms are taking hold.

more...

Enron was the biggest financial disaster and Sarbanes Oxley was to protect from it happening again and the Republicans are out to destroy it!!!

Problem is how can investors trust a company!!!

[Trillo]

1. How can investors trust a company?

I don't think they can. It's hard enough trusting people. How many people do you really trust? I can count my answer to that question on the fingers of one hand. Placing the ONLY concern of corporations into the equation--money--probably skews that small number even lower.

Corporations through the years have undermined our whole system of representative government and turned it into a pay-to-play system, and I don't believe that damage can be undone. Our government was supposed to be about "we the people," not a special interest few.

Why would any person trust any corporation after the actions of their "peers" through the years?

[DeepModem Mom]

2. So much, like this, goes on under the radar...

without consequence, or even notice.