GAAP? What a joke. SOX? It was nothing more than an attempt to make it appear that we were serious about fraud....in publicly traded companies. It changed nothing. In fact, the most extensive fraud in history was occurred after the legislation was in place.

How many times have we heard, "We need stricter rules....closer monitoring..."? No, we need to prosecute the "creative" accounting practices of corporations that rely on investor funds to cashflow their business.

These conmen (and women) with their spreadsheets and creative financing initiatives should be exposed for what they are. They are the disinformational spin doctors for the executive board.


http://finance.yahoo.com/banking-budgeti...