my view on ceo corruption

to deny that there has been a lot of ceo corruption in publicly traded companies is foolish. pick up the wsj, watch cnbc, the nightly news, etc. and youll see that there are a lot of problems out there with ceos. lets talk about martha stewart first. ok you guys say its ridiculous that her company loses 20% in market value. why is it ridiculous when it looks like she is as guilty as sin? the amount of money involved is small to her but it goes to her ethics. if shes willing to break the law for small bucks, why should she have any problems scamming stock holders of her company for big bucks? she hasnt had her day in court so weell see. but if you guys cant see that investing in her company all of a sudden got riskier which means the price of the stock goes south i would have to say that you dont have a grasp on how detrimental these scandels are. did you guys see the news on WCOM tonight? a 4 billion dollar accounting error was found (im bein polite by sayin accountin error) and the CFO was fired. the company lost 70+% of its value in after hours trading today. WCOM also announced a layoff of 17,000 employees this evening which is 20% of their work force. WCOM also nixed plans to spend $2.1 billion on capital equipment. this thing is starting to hurt the economy and i think there is a lot of other shoes to drop. WCOM was fixin to get some sort of loan to keep them solvent for awhile but now that looks like its goin to fall through. here comes chapter 11 for WCOM. the ceo of WCOM quit a short time ago a very wealthy man. what investors are seein today is that a lot of these ceos got rich by shall we say bein less than candid with their stock holders. arthur anderson was the WCOM auditor when the error was made. guess who enrons auditor was? are we beginnin to see a pattern here.? Q is also in a world of hurt, their ceo was ousted last week as he became a very rich man. i'll give you one guess as to who Q's auditor was until the enron fiasco. during the late 90's how many ceos were spinning the rosiest of projections goin forward for their companies while they were sellin their stock like crazy. yeah i know its legal, in public domain, and also is probably ethical but what investors see is that the ceos got rich for runnin companies that quite frankly aint doin all theat well hey investors were stupid during the late 90s but it is my opinion that wall street and corporate management have to bare a lot of the responsibility. investors were gullible and greedy and they got taken for a ride. id bet a whole lot of money that WCOM isnt the last scandel were goin to read about. investors right now are vary wary and they are goin to have to be compensated appropriatly for taken on the risk of ownin stocks. theres been a major change in investor sentiment and that change is for the better i think. ive posted about it before so i wont repeat myself.