Response to May California CPA article, "from where he sits" - Speak Out! - Letter to the Editor

Blaming the Enron scandal on inadequate accounting standards is like blaming 9/11 on bad airport security--neither is the real issue. What occurred was the circumvention of systems based on longstanding beliefs that had never been questioned. Let me suggest that what really needs to be examined is something much broader, i.e. Is the best business model one where cash dividends are discouraged by having a corporate level income tax, and investors are expected to get their entire return from increases in the price of the stock?

Congressman Brad Sherman believes that "the only thing that will save us" is yet more rules and regulations. I can only recall this quote, "thinking is hard work, that's why politicians do so little of it."

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