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It's not just the bankers

By NickNielsen ·
Sentence was passed today on the former general counsel and secretary of Monster Worldwide. He had pleaded guilty to securities fraud and conspiracy to commit securities fraud, admitting that he illegally backdated millions of dollars in employee stock option grants. He participated in a scheme to backdate stock options from 1996 (when Monster went public) through 2003.

http://www.thestate.com/2010/03/02/1183050/internet-job-site-execs-cooperation.html

The story points out: At least 135 U.S. companies have disclosed internal inquiries or government investigations, and at least 39 executives and board directors at 19 companies have been fired or have resigned.

Given the extent of the problem, can somebody please provide a logical explanation of how reducing regulation that would prevent this type of abuse is a good thing?

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I believe we have forgotten

by jfuller05 In reply to the only problem with the ...

that the government works for us.

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More like

by TonytheTiger In reply to I believe we have forgott ...

THEY'VE forgotten!

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Exactly

by jck In reply to More like

And, we've made one of two mistakes:

Either letting them get by with stupid stuff

or

Demanding stupid selfish things


Either way, we should just send blue collar people up there to run the country.

I don't think tax write-offs for things like building on a 2000 square foot sunroom on your 8000 square foot home as a "home improvement" would happen as much as they do now.

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No logical explanation here

by AV . In reply to It's not just the bankers

Lack of regulation got us where we are today. That, and a lack of morals and integrity. Can't regulate that.

AV

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