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February 2, 2023

Footnotes: Mean Regulators and Other Things That Suck | 07.17.12

Does Not Compute: PFG Head Says Spent Stolen Client Money To Comply With Regulator Demands "The note and the statement, which a person familiar with the situation said were left by Peregrine Chief Executive Russell Wasendorf Sr., blames the fraud on "mean spirited" regulators that dogged his firm, saying they were looking to put firms out of business rather than protect commodities investors. [ZH]

PFGBest: Another Fraud, Another Example Of Weak Auditors and Weak Regulatory Oversight [RTA]

Study: High-end tax increases would cost 700K jobs, reduce wages [The Hill]

Why going public sucks: it’s not governance issues It’s directors’ job to care deeply about governance, rather than to dismiss serious concerns from legislators, regulators, and shareholders as “bizarre governance things”. And for all that companies love to bellyache about the costs of Sarbox compliance, the fact is that if you’re looking to governance issues as a reason why it sucks to be public, you’re looking in entirely the wrong place. [Felix Salmon]

Texas Gov. Rick Perry calls on former GOP rival Mitt Romney to release income tax returns [AP]

 

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