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Stolen Thunder: Enron – Repeating The Basics

Stolen Thunder: Enron – Repeating The Basics

by Rick Turoczy on July 7, 2006

But I was going to answer the claim that Lay lined his pockets, and that Enron is why we have Sarbanes-Oxley. Well, last question first. A lot of people forget Arthur Andersen’s role in the Enron collapse–if AA has just done it’s job, the financial reports would have made the conditions clear long before the company collapsed. And let’s not forget Worldcom or Adelphia, Xerox or Tyco; frankly there was a great need for better reports. And as annoying as it is to meet Sox standards, it does what it is supposed to do; gives investors and the public a clearer look at what is going on in major corporations, sp folks can have better confidence in those companies. And while some companies would rather leave the country than meet those standards, to my mind that speaks to the level of stability and transparency those companies maintain–I’d just as soon not invest there anyway, thanks.

Stolen Thunder: Enron – Repeating The Basics

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