"The Mindset of an AIG Executive" - a resignation letter and its rhetorical smackdown

[harborlady]

A good read for non partisan insight on the subject. Please note when this report was authored in context of Enron shennanigans, while toxic securities were starting to spin out faster and faster under everyones noses.
GAO-03-419SP GAO Forum on Governance and Accountability: Challenges to Restore Public Confidence in U.S. Corporate Governance a (http://74.125.93.104/search?q=cache:YxJnAaw-bZwJ:www.gao.gov/new.items/d03419sp.pdf+GAO+SEC+accountability&cd=2&hl=en&ct= clnk&gl=us&client=safari#28 - broken link)
Section of restoring public confidence:

Participants raised questions about whether the SEC should reconsider the amount and targeting of its civil sanctions and more frequently use other types of remedies, such as criminal sanctions, to hold people accountable for wrongdoing. In that respect, participants noted that the SEC should be effectively using the option of referring cases when appropriate to the Department of Justice for investigation for possible violation of criminal statues. Participants questioned how well that process was working.

recomended adendum to Sarbanes-Oxley act:

the SEC and the PCAOB should explore integrating their activities to get the new enforcement mechanisms in place to determine how well they may address some of the issues discussed.

[jimj]

Originally Posted by TristansMommy

Looking at the previous two posts.. I have to say that one of the reasons (there were many, but this is one of them) that I liked Obama so much is that the vast majority of his contributions came from the grass roots... regular average Joe Citizens. I even, for the first time, donated some.. not very much at all mind you.. I mean really it was like $5..LOL.. but I did.

I agree with Harborlady and wholeheartedly.

Except you'd be incorrect. From the Washington Post:
But those with wealth and power also have played a critical role in creating Obama's record-breaking fundraising machine, and their generosity has earned them a prominent voice in shaping his campaign. Seventy-nine "bundlers," five of them billionaires, have tapped their personal networks to raise at least $200,000 each. They have helped the campaign recruit more than 27,000 donors to write checks for $2,300, the maximum allowed. Donors who have given more than $200 account for about half of Obama's total haul, which stands at nearly $240 million.

Who do you think is going to have a voice? Joe shmoe who gave $200 or the guys who tossed millions?
Take the SEIU and their $30 million donation or that they caused more than 3 times that to be raised.
I can understand you supporting Obama but at least be honest about who he owes his success to.