Whether you are for Barack Obama or John McCain, anybody who cares about corporate crime has cause to rejoice come January 20. On that day, the worst SEC in recent history begins to be phased out, with the new commander in chief naming a new SEC chairman to replace the wretched Christopher Cox.
A good example of the SEC’s failures can be found in a company I’ve written about a lot, an Internet retailer named Overstock.com, led by a wild-eyed character named Patrick Byrne. Last week the company had its quarterly analyst conference call, and– as usual — it demonstrated why a new, strong SEC is desperately needed to curb dishonest, double-talking CEOs. Read on…
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