2007-07-21 15:00:19 · 5 answers · asked by Eric Inri 6 in Politics & Government ➔ Elections
That is like asking police officers to prevent bank robberies. Californians should have known their electricity bills were going out of site because of corruption somewhere. Ever since Ivan Boesky's junk bonds, exotic investments such as hedge funds which loan investors' money to low credit rating customers lose billions. John Edwards was paid $500,000 by a hedge fund and he said he did not understand how they operate. He is a lawyer? Bear Sterns has two multi-billion dollar hedge funds which they themselves admit are worthless. Who has the billions now? It did not evaporate. What did John Edwards do with his $500,000? Auditors are the first line against corporate fraud, but they choose not to bite the hand that feeds them. When I received my degree in accounting in 1980, everybody wanted a job with ANY big eight accounting firm. Several of those are out of existence now. How can politicians force ethics on businesses when they will not do anything about lobbyists in Washington or ethics in government. Congress is supposed to legislate laws, not the prez. Laws were not made to be broken, or were they?
2007-07-26 05:50:14 · answer #1 · answered by specialmousepotato 3 · 1⤊ 0⤋
You know it is interesting that we all know about the fraud of ENRON & Global Crossing, but never think about why they did it. If the individuals didn't personally inrich themselves would we still be as angery?
The problem they both ran into was they put in infrastructure where there wasn't available paying demand. They were in effect attempting to hide that fact. It appears they felt if they hid it long enough they would have saved their company & the investors. They were attempting to be the ISP to the 3rd world. Would the World Wide Web be the same without their poor investment thinking?
The Web now puts the White Collar worker in the same boat as the Blue Collar worker has been in for decades.
2007-07-21 22:12:21 · answer #2 · answered by viablerenewables 7 · 0⤊ 1⤋
It would be nice to think that anyone could write a law that someone else wouldn't try to break, but the nature of fraud already says that its illegal. No candidate from any party can keep anyone honest who doesn't want to be. All you can do is make sure they go to jail and lose whatever they bought with their ill gotten gains.
2007-07-21 22:06:41 · answer #3 · answered by justa 7 · 2⤊ 0⤋
Couldn't. People expect the President to do too much. Obviously many people do not know what the powers of the President really are. The President does not make laws.
2007-07-21 22:07:04 · answer #4 · answered by Charles C 7 · 2⤊ 0⤋
None of them would do anything until forced to - to much money coming from these corporations!
2007-07-21 22:06:27 · answer #5 · answered by jrd 3 · 0⤊ 0⤋