Monday, May 29, 2006

Lewis Carroll And The Wall Street Journal


On May 20, 2006, a Wall Street Journal editorial reflected on the government's post-Enron regulatory activities:

"One conclusion is how exceptional those scandals have turned out to be. Far from revealing some larger cultural rot, the corruption was serious but limited to a handful of companies. Prosecutors and regulators used the political opening created by the Enron collapse to hunt for malfeasance far and wide, but the news is how little they found."

On May 27, the newspaper commented on the illegal practice of backdating stock option grants to build in or increase profits for senior executives:

"The number of companies doing this isn't clear, though the SEC is investigating at least 20 and prosecutors have launched criminal probes into a half-dozen...."

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