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The Andersen collapse and its side effects

Miles Seeley finds consolation in an odious comparison: "Not to be too Pollyanna-ish, but we have seen similar scandals and breaches of trust. There will be a big outcry, new laws will be written, new regulations promulgated, and many lawsuits filed. Our system will be tweaked, as they say, and we will press on. I have lived in many countries and studied more, and there is still no place like the United States, with all its flaws. In the Enron/Andersen case, I do hope some high officials will land in jail (that always slows down the predators for awhile) and seizure of assets that can be used to re-finance the retirement packages of the employees. In short, it is a major scandal that harmed many people, but it does not invalidate the system under which we live, work, save, and invest".

My comment: The world is wondering. At least we must invent a better rat-trap.

Ronald Hilton - 3/29/02