Corporation Fraud

I guess it took another tragedy besides September 11, 2001 for the country and the President of the United States George W. Bush to realize that Big corporations and their super-rich executives are out of control and that we needed to take the bull by its horns and the President signed the Sarbenes-Oxley Act of 2002, which is a law that will act against those who have shaken confidence in our markets, using the full authority of government to expose corruption, punish wrongdoers and defend the rights and interests of Americans and investors. The tragedy and the wake-up (like we needed another after 9/11) was in November 2001, the Enron Corporation, one of the largest electricity and natural gas traders, announced a 618 million third-quarter loss, Enron admitted to overstating its earnings by 567 million since 1997. This of course led to filing for chapter 11-bankruptcy protection then the announcement of 4,000 employee layoffs. Along side the biggest bankruptcy in US history was the shocking $ 1 billion in lost pension funds to those employee's laid off. Enron is not the only bad pea in the pot there is also Tyco, WorldCom, Qwest Communications, Global Crossing Ltd, and who could forget the stock happy selling of Martha Stewart. Why with everything else going on in our country today that our President needs to be a stronger nations corporate cop. How many more millions of working Americans need to be robbed of their retirement securities by malfeasance while corporate executives continue to enjoy golden parachutes when they perform poorly and get fat bonuses when they lay off massive numbers of workers.

With all of the distrust and dishonestly going on in corporate America this is what raises price's of the product and which loses interest with consumers and results in loss of jobs for middle class people. And finally I think with a stronger government oversight this will eliminate multiple high-ranking chiefs of staff per large corporations because this will cut the payroll and put the power back into the shareholders.

Corporation fraud is just as bad as Terrorism invading our country, but it's worse because the Chairmen's of the boards are Americans like you and I, but