Exactly 10 years ago today, the Enron Corporation filed for bankruptcy after it was revealed that it had blatantly falsified its earnings statements for many years. Although most of the accounting irregularities that caused its collapse were already illegal, Congress overreacted and passed Sarbanes–Oxley, a massive and deeply flawed accounting …
In his weekly radio and Internet address this past Saturday, President Barack Obama predicted that his agenda would draw attack from “special interests and lobbyists” on several fronts. If by “attack” he meant “support” than Obama is 100% correct. The Center for Public Integrity released a study last week reporting …
The $700 billion that Treasury Secretary Hank Paulson is requesting from Congress to restore liquidity in the financial markets is a breathtaking sum of money. But it is also important to remember Paulson has already committed $200 billion to recapitalize Fannie Mae and Freddie Mac. The size of their bailout …
