[email protected] (Rick Fochtman) writes: > Unfortunately, averice (greed) is not a property limited to the middle > class. Bernie Madoff is a prime example of how greed engenders more greed. > > I submit that when the oppurtunity is presented, the temptation can be > overwhelming, even to the best of us. It takes a hard man indeed to > resist ALL temptations, no matter how momentous or trivial.
in congressional hearings into Madoff, the person, that had tried (unsuccesfully) for a decade to get the SEC to do something about Madoff, testified that while new regulations may be necessary, it is much more important to have transparency and visibility ... somewhat related to my prior post about being asked by NSCC to look at improving the integrity of trading transactions: http://www.garlic.com/~lynn/2010q.html#44 Programmer Charged with thieft (maybe off topic) note that sarbanes-oxley, in the wake of enron ... specified increase in audits of financial statements of public companies (and oversight by SEC) ... possibly because GAO didn't think SEC was doing anything ... they started looking at such financial statements and found uptick in fraudulent filings ... even after SOX ... recent post with (GAO) references http://www.garlic.com/~lynn/2010q.html#31 Ernst & Young sued for fraud over Lehman references about ENRON (leading up to SOX) with to Time article about people responsible for recent financial mess (and ENRON mess) http://www.garlic.com/~lynn/2010l.html#38 Who is Really to Blame for the Financial Crisis? there were also fall2008 congressional hearings into pivotal role played by rating agencies in the financial mess ... recent reference http://www.garlic.com/~lynn/2010q.html#40 Ernst & Young sued for fraud over Lehman at the time, there were comments that the rating agencies could blackmail the federal gov to avoid punitive action with the threat of downgrading the govs. credit rating. note that SOX also had item having SEC look into the rating agencies ... but there was nothing except a SEC report reference to in the post on blame for financial crisis. The "blame" post also mentions that early 2009, I was asked to take the recently scanned Pecora hearings (senate hearings into the Great Depression), html'ize them with heavy indexes ... as well as URLs between what happened then and what happened this time (apparently some expectation that the new congress might have an appetite for doing something similar). After putting quite a bit of effort into it, I got a call that nobody was really interested after all. with respect to greed and temptation ... recent post referencing 30yr old legal action regarding industrial espionage and theft of (DASD) trade secrets: http://www.garlic.com/~lynn/2010q.html#25 Economic espionage discussed slightly related post getting to playing computer security sidekick to new CSO (one time had been head of presidential detail, long ago and far away): http://www.garlic.com/~lynn/2010q.html#3a The Great Cyberheist similar post in (linkedin) IBM Alumni thread: http://www.garlic.com/~lynn/2010q.htmL#8 Plug Your Data Leaks from the inside -- virtualization experience starting Jan1968, online at home since Mar1970 ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: GET IBM-MAIN INFO Search the archives at http://bama.ua.edu/archives/ibm-main.html
