Dear Prof. Albrecht:
Sarbanes-Oxley promised big fines and jail time for executives who signed false financial statements.
But so far there have been no prosecutions.
How about Fannie Mae, Freddie Mae, AIG, Lehman Brothers, Bear Stearns, Countrywide, Merrill Lynch, etc.?
Attorney General Holder needs to start prosecuting ASAP.
I agree. A law with no enforcement is no law at all.
CEOs who sign erroneous financial statements should be prosecuted, judged guilty, and given the bum’s rush to jail.
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