GREAT, NOW LET'S SEE THEM DO HARD TIME :

THE SYSTEM WORKS (RALPH PETERS, June 28, 2002, NY Post)

ENRON, WorldCom and Martha Stewart just proved that America's financial and accounting systems work. Despite the monstrous cheating and mad-dog greed, the good news about all the scandals we are suffering is that the bad guys--and gals--got caught.

Behind the appalled headlines, the deeper message is that the United States isn't India, or China, or Brazil--or even France.

In any of those countries, well-connected corporate scoundrels would have been shielded by the system. Hell, in plenty of countries, the scoundrels are the system.

Here, in the world's largest economy, unscrupulous CEOs and CFOs have nearly unlimited opportunities to cheat investors, banks and their own employees. But they get caught in the end.

As Samuel Johnson said : The prospect of hanging wonderfully concentrates the mind. Send a few of these CFOs, CEOs, and accountants to SuperMax and these corporate ledgers will straighten themselves out damn quickly. Posted by Orrin Judd at June 28, 2002 8:30 AM