It may not change anything in the long run, but in the short term,
people are at least getting smacked with some surprisingly hefty
penalties. I'll be surprised if Lay doesn't go down for
something. He's got lots of political buddies, but there are
also a lot of pissed off DOJ lawyers looking for scalps. In a lot
of these coporate fraud cases, they're taking their time rolling
the underlings so that when they eventually work up to charging the
Big Boss, they can flatten them.
And it remains to be seen, again, how well it'll do for long-term
change, but the Sarbanes-Oxley accountability rules are scaring the
shit out of big companies. They're aimed at making the high-paid
execs -- at minimum, the CEO & CFO -- accountable for the
operations. (I cover some of this stuff for a tech newswire. I'm
really curious to see how well the current accountability kick does
at shaping lasting reforms.)
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