The crooks are running the reformatory

Looks like the US Securities and Exchange Commission has been taking lessons – not to mention instructions - from the skeevier depths of its clientele:

The Securities and Exchange Commission, in a move announced late on the last business day before Christmas [emphasis added], reversed a decision it had made in July and adopted a rule that would allow many companies to report significantly lower total compensation for top executives.
S.E.C. Changes Reporting Rule on Bosses’ Pay
By Floyd Norris
The New York Times Dec. 27 2006

At this point, I believe I’m entitled to an I-told-you-so:

Cox is Harvey Pitt redux. He’s not going to be so dumb as to promise a “kinder, gentler” SEC. Rather, he will deliver one to his friends in the same way the Bush administration delivered the Iraq war: by curve-fitting convenient facts to a predetermined agenda, and displaying near-total contempt for the whole truth. It's going to work out just as well for investors. NakedShorts Aug. 1 2005

The Investor’s Advocate.

Comments

[Team Fortress 2]

this blog is cool!! regarding with the SEC, that was a good move!

[Bill Mann]

That really, truly would be unbelievable IF you believe that the SEC is beholden to investors.

Given that we're in the midst of a stink over hundreds of companies backdating and falsifying options grants to hide pay for these same executives, the last thread of shame at the SEC has just been severed.

Really enjoy your blog.
Bill Mann