Wednesday, October 29, 2008
Lessons Learned From Enron: Zip, Zero, Nada, Wall Street Journal Says is an interesting Oct. 29, 2008 ABA Blog article which discusses the current financial crisis and the need for regulation. The point of the article is that executives cannot be given carte blanche. As the article states:
"Today's financial crisis has shown what a real debacle looks like. And it has made clear that executives' duties to public companies have, if anything, been loosened, not reinforced," the newspaper writes. "What is worse, the post-Enron crackdown appears not only to have failed to stop flagrant corporate risk-taking, but to have lulled Washington to sleep."
Mitchell H. Rubinstein