March 2011

You are browsing the archive for March 2011.

When Rich People Do Stupid Things

But to quote Buffett again, who once ridiculed a different group of defunct financiers: “To make money they didn’t have and didn’t need, they risked what they did have and did need. And that’s foolish. It is just plain foolish. If you risk something that is important to you for something that is unimportant to [...]

Moral for CEOs Is Choose Your Fraud Carefully

As long as the SEC clings to the position that there were no errors in those companies’ financial statements, it can’t allege there was anything wrong with the firms’ audits. That helps shield the auditors from potentially crippling liability in private securities litigation. It also limits the SEC’s ability to accuse any of the companies’ [...]

Why Wall Street Reform May Already Be Dead – CBS MoneyWatch.com

Could the SEC be managed better? Yes — any organization can. Can the SEC do “more with less,” as budget cutters love to say? No. Plenty of Americans had their personal budgets cut in this past recession. Ask them if they’re doing “more with less.” Read more

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