President Bush has blasted
CEOs and auditors who cook the books of major companies. He’s also rolling out a plan in which those who abuse shareholder trust will be prevented from ever serving on corporate boards.
This may be a rather harsh punishment, but given the kind of abject abuse of power and fraud that has occurred in the past year, it should send the right message. Hopefully these reforms will make it clear that CEOs, CFOs, and auditors cannot get by with the kind of financial shenanigans like the ones at Enron and WorldCom.