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I Know Nothing!

By Montag | Related entries in General Politics, Money

Well, the incompetent fool defense didn’t work for Bernie Ebbers at WorldCom; but, HealthSouth CEO Richard Scrushy, indicted for corporate fraud used the defense successfully. One of the prosecutors called it “the Sergeant Schultz defense.” I like that.

Scrushy was the first to be indicted under the Sarbanes-Oxley Bill (aka: Public Company Accounting Reform and Investor Protection Act.)

“This law says to every American: there will not be a different ethical standard for corporate America than the standard that applies to everyone else.” –George Bush at the signing of Sarbanes-Oxley (aka: Public Company Accounting Reform and Investor Protection Act)

In a commentary at Reason.com, Christopher Preble says –

Scrushy was acquitted in part becase the court held to a higher threshold of culpability than the law actually demanded.

– and asks the tough question: “How would the president hold up under his own rules?”

Reason: George W. Bush, CEO

This entry was posted on Monday, July 18th, 2005 and is filed under General Politics, Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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