Comments on: Sarbanes-Oxley’s lost promise: Why CEOs haven’t been prosecuted

By: RussRamey6

RussRamey6 — Thu, 02 Aug 2012 12:36:56 +0000

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.

By: Art_In_Seattle

Art_In_Seattle — Tue, 31 Jul 2012 17:00:41 +0000

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.

By: susette

susette — Tue, 31 Jul 2012 14:49:23 +0000

So it looks to me like public shareholders have no real protection against fraud. Why would anyone want to invest? Stupid!

By: QuietThinker

QuietThinker — Tue, 31 Jul 2012 12:39:53 +0000

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.

By: borisjimbo

borisjimbo — Tue, 31 Jul 2012 00:10:45 +0000

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?

By: zhmileskendig

zhmileskendig — Mon, 30 Jul 2012 17:48:07 +0000

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.