Comments on: Sarbanes-Oxley’s lost promise: Why CEOs haven’t been prosecuted http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/ On the Case Fri, 15 Jul 2016 20:42:45 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: breezinthru http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-2330 Sun, 23 Mar 2014 02:19:41 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-2330 The reason that laws have little influence on CEO’s is that the laws are enforced by the SEC.

If similar laws were enforced through the DOJ under RICO resulting in massive losses of accumulated personal wealth and lengthy prison sentences for CEO’s and anyone else who knowingly participated in the crime, we would see a paradigm shift in corporate behavior.

The SEC is a sham.

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By: RussRamey6 http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-1316 Thu, 02 Aug 2012 12:36:56 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-1316 Increased burden with predictable bureaucratic results, who would have imagined? You cannot legislate integrity. Especially by Congressional or Executive branch diktat. It’s starts with the nation’s leadership, which has been sorely lacking in any effort to police itslef…much less the dynamics of a free market.

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By: Art_In_Seattle http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-1314 Tue, 31 Jul 2012 17:00:41 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-1314 Perhaps the worst of all is that the CEO’s and other top corporate officials have essentially been mandated to put in place layers upon layers of “subcertification” and recordkeeping below their level. Since large-scale fraud is evidently still going on, this means the bigwigs have delegated all the dirty work to underlings, and sit in their ivory towers doing EVEN LESS to “earn” their giant salaries, bonuses and other compensation.

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By: susette http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-1311 Tue, 31 Jul 2012 14:49:23 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-1311 So it looks to me like public shareholders have no real protection against fraud. Why would anyone want to invest? Stupid!

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By: QuietThinker http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-1310 Tue, 31 Jul 2012 12:39:53 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-1310 One doesn’t become CEO without learning to CYA. Everyone makes mistakes, but to ascend the corporate ladder one must become adept at letting someone else take the fall. Look at Jamie Dimon letting Ina Drew and a few others take the fall for his gambling with other peoples money (OPM) and losing. Of course, these folks knew they might become the scapegoats for Dimon if things went wrong, but they themselves got tens of millions and their own chance to climb the ladder if the bets won. The subcertification defense fits this mode of operation perfectly.

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By: borisjimbo http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-1306 Tue, 31 Jul 2012 00:10:45 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-1306 Uhhh, because A: the Repos watered down Sarbanes-Oxley to the point of toothlessness, and B: the Repo House has defunded any SEC law enforcement?

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By: zhmileskendig http://blogs.reuters.com/alison-frankel/2012/07/27/sarbanes-oxleys-lost-promise-why-ceos-havent-been-prosecuted/#comment-1305 Mon, 30 Jul 2012 17:48:07 +0000 http://blogs.reuters.com/alison-frankel/?p=1313#comment-1305 CEO’s haven’t been prosecuted because CEO’s enjoy immunity from prosecution, provided they employ the right lawyers/firms. The rest is theft of valuable O2.

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