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A 'Witch Hunt' in Silicon Valley
garzpacho writes "BusinessWeek Online has an interview with Daniel Warmenhoven (CEO of Network Appliances), who joins a growing list of technology executives in saying that the government's search for backdated options among tech companies is going too far: 'It's become a witch hunt. I think the government is looking to find some egregious examples [of wrongdoing] and to publicly hang people for them. That's fine. But where does it stop? I'm not saying the past practices were all good. But I thought the SEC's role was to build investor confidence. What they're doing right now is destroying it, and I don't see the purpose. They're penalizing today's shareholders for events that occurred five years ago. But who is this protecting, exactly? With Enron, every shareholder in the company lost money. The same with Qwest, and with MCI-Worldcom. But I don't know who the injured party is here.'"
Trillion dollar bet
http://www.pbs.org/wgbh/nova/transcripts/2704stoc
What did teh winners do with some of the money? Dot come boom and bust, easy come easy go.
What of the losers like worldcom and enron, to only name two?
What does mother nature and father physics say about it?
9/11
is such wrongful world economic manipulation worth punishing?
the best way to address terrorism is to deal wioth the cause, not the symptoms.
and to remove the ignorant politicians and war mongers.