they were so guilty that i was kinda hoping they would get off for some reason. oh well.

 

they will never get more than 9 years apeice- if they do i would be very suprised. the reason i say this is because of the Tyco case and others; no one ever seems to be sentenced to more than 8 and 1/3 years (yes, they may get 8 and 1/3 years to 25 or life, but will they ever serve more than the minimum? NO. will they get out even earlier for good behavoir? YES.

Edited May 26, 200619 yr by samclemens

As I started seeing what was happening (restating earnings for the three years prior to me being there due to a write off of receivables (ahem, no real basis for billed revenue) was my first clue) I was out of there PDQ. There were other "incidents".

No, the next one.

Funny that this comes out about the same time as the Enron verdicts. One step forward, two steps back.

 

http://www.businessweek.com/bwdaily/dnflas...opStories_ssi_5

 

President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.

 

Unbeknownst to almost all of Washington and the financial world, Bush and every other President since Jimmy Carter have had the authority to exempt companies working on certain top-secret defense projects from portions of the 1934 Securities Exchange Act. Administration officials told BusinessWeek that they believe this is the first time a President has ever delegated the authority to someone outside the Oval Office. It couldn't be immediately determined whether any company has received a waiver under this provision.

 

The timing of Bush's move is intriguing. On the same day the President signed the memo, Porter Goss resigned as director of the Central Intelligence Agency amid criticism of ineffectiveness and poor morale at the agency. Only six days later, on May 11, USA Today reported that the National Security Agency had obtained millions of calling records of ordinary citizens provided by three major U.S. phone companies. Negroponte oversees both the CIA and NSA in his role as the administration's top intelligence official.

 

....

 

William McLucas, the Securities & Exchange Commission's former enforcement chief, suggested that the ability to conceal financial information in the name of national security could lead some companies "to play fast and loose with their numbers." McLucas, a partner at the law firm Wilmer Cutler Pickering Hale & Dorr in Washington, added: "It could be that you have a bunch of books and records out there that no one knows about."

they were so guilty that i was kinda hoping they would get off for some reason. oh well.

 

they will never get more than 9 years apeice- if they do i would be very suprised. the reason i say this is because of the Tyco case and others; no one ever seems to be sentenced to more than 8 and 1/3 years (yes, they may get 8 and 1/3 years to 25 or life, but will they ever serve more than the minimum? NO. will they get out even earlier for good behavoir? YES.

 

 

I was listening to the news last night and they said the minimum that Lay and Skilling could get is 20 years. Thats before they're even eligible for parole.

 

They're f***ed.

Both figuratively and literally.

Funny that this comes out about the same time as the Enron verdicts. One step forward, two steps back.

 

http://www.businessweek.com/bwdaily/dnflas...opStories_ssi_5

 

I don't have a problem with Bush officially delegating this as long as he's willing to accept responsibility as well. You can delegate authority, you cannot delegate responsibility. It will also be public record which companies are exempted, and I am certain there will be some excellent digging by the liberal media, which should go a long ways to protect our interests.

Funny, what a joke...these guys will do 2 years max. at least for Kenneth Lay anywway. A Bush Pardon is a certainty........

Funny, what a joke...these guys will do 2 years max. at least for Kenneth Lay anywway. A Bush Pardon is a certainty........

Just f***ing stop it, mmmmmmmmmmmmmmmmmkay?

Just f***ing stop it, mmmmmmmmmmmmmmmmmkay?

 

 

Wow..you guys allow swearing in here..excellent

Edited May 30, 200619 yr by IggyD

So why did you join December 11, and just now start posting?

So why did you join December 11, and just now start posting?

 

I have a few posts in the Sox area, but mostly lerk around and read.....Most of my Sox dialogue is in WSI...I must say I do like the layout of this forum more.

 

I had never seen this area until recently

ok, just wondering.