Thursday, January 29, 2009

Public Enemy No.1: Mr Richard Fuld

I can't help but feel disgusted with his antic. Where is the corporate social responsibility? Somewhere in the system, definitely something is seriously wrong, that is, if the financial regulators or the investors ever let him off the hook. It made SOX look rather primitive, if I may say so.

On another note, here is one piece of news for future accounting students: like in the post-Enron period, the aftermath of such scandals would also mean more study notes under the US's rules based jurisdiction. As if we need another reason to crown him our "Public Enemy No.1". Though there will be one group of people rubbing their palms gleefully: of course, the accountants! For a new act passed by the congress will entail a bloom in the compliance consultancy industry.

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