Monday, April 23, 2012

A Random Act of Journalism: The Case Against Lehman Brothers

The questions are simple: where is the bite in Sarbanes-Oxley? Why has the SEC not prosecuted those officers who certified the financial statements? Does the law mean nothing anymore? Someone needs to be made an example of to send the message to those companies who survived the financial crisis that this behavior will have personal consequences to those who engage in it. It just won't mean the bankruptcy of a firm and a total loss for shareholders, but jail time for the officers who engaged in the fraud.

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