Corporate Accountability is HARD WORK!
That should be the title of Bernard's new offering today. Basically he's saying those poor, poor, mom-pop, family-owned barely-scraping-by multimillion-dollarpublicly traded corporations are complaining about the new "complexities" of the Sarbanes-Oxley law that was passed on the wake of the Enron/Worldcom/Tyco scandals. Actually a few of them are since he admitted that only 20 percent of them considered skirting the law and making their public companies private. And apparently only 316 out of 15,000 public companies went private in 2002, or two percent, which is pretty much the same percentage that went private the previous year. If there is a big exodus from Wall Street because of the bill, I'm not seeing it.
So is this how the cons stick up for the little guys, especially those who were shit out of luck because of the corporate scandals, only to see their bosses carrying golden parachutes? Does carrying water for the fat-cats improve their street cred with the regular folks? If the effective federal corporate tax rate is 17 percent while the rest of us pay 23 percent, is it too much to ask for the corporate fat cats to actually fill out more forms to make sure they are not screwing with us? Apparently it is for out-of-touch conservatives like Darren Bernard.