“I don’t think the SEC’s culture is one that will make this effective one iota,” said Sherron Watkins, a one-time vice president at Enron, referring to expanded protections for whistleblowers included in the Dodd-Frank financial reform law. If she was in the same situation today as 10 years ago, when Watkins approached government authorities about accounting fraud at Enron, she would probably instead take her information to an organization like WikiLeaks, Watkins said. [Paper Trail]
Related Posts
Accounting = Weapons of Mass Destruction
- Caleb Newquist
- July 20, 2010
“Accounting is the CEO’s “weapon of choice” that transforms the perverse incentive into what economists, regulators, and criminologists agree is a “sure thing” in crises (means).”
~ William K. Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City.
Congress: Come Hell, High Water or Spiteful Democrats, We’ll Patch the AMT in the Lame Duck Session
- Caleb Newquist
- November 10, 2010
“We plan to do everything possible to enact AMT relief legislation in a form mutually agreeable to the Congress and the president. We urge the Internal Revenue Service to take all steps necessary to plan for changes that would be made by the legislation.”
~ One of those “letters” that legislators write to bureaucrats as a form of grandstanding. This particular letter was from Max Baucus, Chuck Grassley, Sandy Levin and Dave Camp to Doug Shulman
Florida Governor Is Not Impressed with Deloitte’s Handiwork
- Jason Bramwell
- April 28, 2020
“It was designed with all these different things, basically to fail, I think. This thing […]
