Capitalism and Financial Scandal
July 23, 2002 -- The recent furor over accusations of insider trading by high-profile shareholders of ImClone Systems has been touted as yet another example of corporate fraud, heralded by the collapse of Enron in December last year. These allegations led to the arrest of ImClone’s ex-CEO Sam Waksal and have shrouded Martha Stewart’s activities in doubt. They have also elicited the usual demand for stricter government regulation of corporate functioning. It is another rallying point for the voices that routinely decry big business and capitalism and clamor for the government’s protection from them. President Bush has already acquiesced to such demands for action and has promised steps to strengthen the Securities and Exchange Commission. There is also talk of creating an accounting industry Oversight Board (effectively expanding government regulation of the accounting industry).
Mar 16, 2010
|
3分
.webp)
.svg){kind=small}
