Comments on: Live blogging Mary Schapiro speech at SABEW

By: Tracie from Ohio

Tracie from Ohio — Tue, 28 Apr 2009 17:13:40 +0000

This made me think of a very informative site by Errold F. Moody. In his daily commentaries, he has made some very critical comments about Shapiro, and basically, the whole SEC. I was wondering if you’ve heard of him?

BTW, I can’t express enough how vital your work is for those of us “chum” (financial virgins) forced to swim in shark-infested (expert salesmen) waters. Honestly, I’m disgusted to realize that the stock market is really just a rigged game; it is not the great panacea for retirement as the pushers of 401k’s over traditional pensions told us.

By: Michelle Leder

Michelle Leder — Mon, 27 Apr 2009 22:30:56 +0000

That’s funny! And maybe even a little bit true. But putting on my serious hat for a moment, I do think Jon Weil’s question is a serious one: why hasn’t there been an accounting fraud case since Cardinal Health over two years ago? Was there really a belief at the SEC that every company’s numbers since then have been pure as the driven snow?

By: 1shotrising

1shotrising — Mon, 27 Apr 2009 20:58:22 +0000

Schapiro says she knows she has to prove this and that it is a high priority.

I’m not economist, but shouldn’t we wait until the banking industry has found another means to generate revenue before we eliminate accounting fraud.